Zacks Reiterates Neutral Rating for Quicksilver Resources (KWK)
Quicksilver Resources (NYSE:KWK)‘s stock had its “neutral” rating reiterated by Zacks in a report released on Tuesday. They currently have a $3.00 target price on the stock. Zacks‘s target price points to a potential upside of 8.70% from the company’s current price.
Zacks’ analyst wrote, “Quicksilver Resources Inc. recorded wider than expected loss in the first quarter of 2014. The wider loss was attributable to production decline resulting from lower drilling and completion activities. In the long run, combination of Quicksilver Resources’ successful cost-abatement initiatives and higher production from its key assets could improve its margin. The company’s majority of future investments will be directed towards drilling activities in the prime resource plays of Barnett and Horseshoe Canyon. In addition, the proceeds from the divestiture of the Colorado assets to Southwestern Energy will strengthen its liquidity position and help lower its debt burden. However, government regulations and over-reliance on third parties to market the products might deter the aforementioned positives. We thus retain our Neutral recommendation.”
Separately, 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 (NYSE:KWK) traded down 4.71% during mid-day trading on Tuesday, hitting $2.63. 2,686,191 shares of the company’s stock traded hands. Quicksilver Resources has a 1-year low of $1.44 and a 1-year high of $3.67. The stock’s 50-day moving average is $2.56 and its 200-day moving average is $2.89. The company has a market cap of $456.4 million and a P/E ratio of 3.00.
Quicksilver Resources (NYSE:KWK) last released its earnings data on Tuesday, May 6th. The company reported ($0.08) EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted ($0.04) earnings per share. The company’s quarterly revenue was up NaN% on a year-over-year basis. Analysts expect that Quicksilver Resources will post $-0.28 EPS for the current fiscal year.
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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