Zacks Downgrades Magnum Hunter Resources Corp to Neutral (MHR)
Magnum Hunter Resources Corp (NYSE:MHR) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a note issued to investors on Friday. They currently have a $8.30 target price on the stock. Zacks‘s price objective points to a potential upside of 30.30% from the company’s current price.
A number of other firms have also recently commented on MHR. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Magnum Hunter Resources Corp in a research note on Friday, July 18th. They now have a $10.00 price target on the stock, up previously from $9.00. 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. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $9.15.
Magnum Hunter Resources Corp (NYSE:MHR) opened at 6.37 on Friday. Magnum Hunter Resources Corp has a one year low of $3.86 and a one year high of $9.27. The stock’s 50-day moving average is $7.64 and its 200-day moving average is $8.00. The company’s market cap is $1.124 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 $-0.62 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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