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Magnum Hunter Resources Corp (NYSE:MHR) traded down 5.9% on Tuesday after an insider sold shares in the company, Analyst Ratings Network.com reports. The company traded as low as $8.31 and last traded at $8.32, with a volume of 3,737,954 shares. The stock had previously closed at $8.84.

Specifically, SVP Donald L. Kirkendall sold 100,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $8.34, for a total transaction of $834,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

A number of analysts have recently weighed in on MHR shares. Analysts at Stifel upgraded shares of Magnum Hunter Resources Corp from a “hold” rating to a “buy” rating in a research note on Monday, June 2nd. They now have a $11.00 price target on the stock. Separately, analysts at Stifel Nicolaus upgraded shares of Magnum Hunter Resources Corp from a “hold” rating to a “buy” rating in a research note on Monday, June 2nd. They now have a $11.00 price target on the stock. Finally, analysts at Credit Suisse initiated coverage on shares of Magnum Hunter Resources Corp in a research note on Wednesday, May 28th. They set an “outperform” rating and a $9.00 price target on the stock. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $8.66.

The stock’s 50-day moving average is $7.88 and its 200-day moving average is $7.84. The company’s market cap is $1.473 billion.

Magnum Hunter Resources Corp (NYSE:MHR) last announced its earnings results on Friday, May 9th. The company reported ($0.15) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.16) by $0.01. The company had revenue of $70.20 million for the quarter, compared to the consensus estimate of $96.43 million. During the same quarter last year, the company posted ($0.06) earnings per share. Magnum Hunter Resources Corp’s revenue was up 98.2% compared to the same quarter last year. On average, analysts predict that Magnum Hunter Resources Corp will post $-0.65 earnings per share for the current fiscal year.

Magnum Hunter Resources Corporation (NYSE:MHR) is an independent oil and gas company engaged in the exploration for and the exploitation, acquisition, development and production of crude oil, natural gas and natural gas liquids, primarily in the states of West Virginia, Ohio, Texas, Kentucky and North Dakota and in Saskatchewan, Canada.

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