Insider Selling: Thomas F. Darden Sells 10,000 Shares of Quicksilver Resources Stock (KWK)
Quicksilver Resources (NYSE:KWK) Director Thomas F. Darden sold 10,000 shares of the company’s stock on the open market in a transaction dated Monday, June 2nd. The stock was sold at an average price of $2.36, for a total transaction of $23,600.00. Following the sale, the director now directly owns 5,550,704 shares in the company, valued at approximately $13,099,661. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Quicksilver Resources (NYSE:KWK) traded down 0.40% on Friday, hitting $2.49. The stock had a trading volume of 224,884 shares. Quicksilver Resources has a 1-year low of $1.44 and a 1-year high of $3.67. The stock has a 50-day moving average of $2.75 and a 200-day moving average of $2.91. The company has a market cap of $432.1 million and a P/E ratio of 2.72. Quicksilver Resources also was the recipient of a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 38,421,265 shares, a decline of 11.3% from the April 30th total of 43,338,312 shares. Based on an average daily trading volume, of 3,782,658 shares, the days-to-cover ratio is currently 10.2 days. Approximately 30.7% of the shares of the stock are sold short.
Quicksilver Resources (NYSE:KWK) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by $0.02. The company had revenue of $91.79 million for the quarter, compared to the consensus estimate of $105.26 million. During the same quarter in the previous year, the company posted ($0.04) earnings per share. The company’s revenue for the quarter was up NaN% on a year-over-year basis. Analysts expect that Quicksilver Resources will post $-0.30 EPS for the current fiscal year.
A number of research firms have recently commented on KWK. Analysts at Zacks reiterated a “neutral” rating on shares of Quicksilver Resources in a research note on Wednesday, May 7th. They now have a $3.00 price target on the stock. Analysts at Cowen and Company raised their price target on shares of Quicksilver Resources from $1.50 to $3.00 in a research note on Friday, March 28th.
Quicksilver Resources Inc (NYSE:KWK) is an independent oil and gas company engaged primarily in the acquisition, exploration, development and production of onshore oil and gas in North America.
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