Insider Buying: Joe L. Mcclaugherty Purchases 5,000 Shares of Magnum Hunter Resources Corp Stock (MHR)
Magnum Hunter Resources Corp (NYSE:MHR) Director Joe L. Mcclaugherty bought 5,000 shares of the company’s stock in a transaction dated Monday, July 7th. The stock was purchased at an average price of $7.91 per share, for a total transaction of $39,550.00. Following the purchase, the director now directly owns 956,921 shares of the company’s stock, valued at approximately $7,569,245. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
MHR has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Magnum Hunter Resources Corp from a “neutral” rating to an “outperform” rating in a research note on Thursday. They now have a $9.40 price target on the stock. Separately, analysts at GMP Securities initiated coverage on shares of Magnum Hunter Resources Corp in a research note on Tuesday, June 24th. They set a “buy” rating and a $11.00 price target on the stock. Finally, analysts at Topeka Capital Markets raised their price target on shares of Magnum Hunter Resources Corp from $11.00 to $12.00 in a research note on Monday, June 23rd. They now have a “buy” rating on the stock. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $8.83.
Shares of Magnum Hunter Resources Corp (NYSE:MHR) traded down 3.93% on Monday, hitting $7.82. 2,656,639 shares of the company’s stock traded hands. Magnum Hunter Resources Corp has a 52 week low of $3.67 and a 52 week high of $9.27. The stock’s 50-day moving average is $8.04 and its 200-day moving average is $8.04. The company’s market cap is $1.380 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 $-0.67 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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