Magnum Hunter Resources Corp Receives Consensus Rating of “Buy” from Brokerages (NYSE:MHR)
Shares of Magnum Hunter Resources Corp (NYSE:MHR) have received an average recommendation of “Buy” from the seventeen ratings firms that are presently covering the stock, Stock Ratings News reports. Four equities research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $9.22.
Magnum Hunter Resources Corp (NYSE:MHR) traded down 1.38% during mid-day trading on Monday, hitting $7.17. The stock had a trading volume of 416,933 shares. Magnum Hunter Resources Corp has a 52 week low of $3.70 and a 52 week high of $9.27. The stock has a 50-day moving average of $8.05 and a 200-day moving average of $8.0. The company’s market cap is $1.265 billion.
Magnum Hunter Resources Corp (NYSE:MHR) last posted its quarterly earnings results on Friday, May 9th. The company reported ($0.15) EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted ($0.06) earnings per share. The company’s quarterly revenue was up 98.2% on a year-over-year basis. Analysts expect that Magnum Hunter Resources Corp will post $-0.63 EPS for the current fiscal year.
In other Magnum Hunter Resources Corp news, Director Joe L. Mcclaugherty bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 7th. The shares were purchased at an average price of $7.91 per share, with a total value of $39,550.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on MHR shares. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Magnum Hunter Resources Corp in a research note on Friday. They now have a $10.00 price target on the stock, up previously from $9.00. Separately, analysts at Zacks upgraded shares of Magnum Hunter Resources Corp from a “neutral” rating to an “outperform” rating in a research note on Thursday, July 3rd. They now have a $9.40 price target on the stock. Finally, 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.
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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