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Magnum Hunter Resources Corp (NYSE:MHR) dropped 4.3% during trading on Tuesday after an insider sold shares in the company, reports. The company traded as low as $6.03 and last traded at $6.05, with a volume of 1,900,828 shares. The stock had previously closed at $6.32.

Specifically, EVP Hershal C. Ferguson III sold 5,400 shares of Magnum Hunter Resources Corp stock on the open market in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $6.40, for a total value of $34,560.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

A number of research firms have recently commented on MHR. Analysts at Zacks downgraded shares of Magnum Hunter Resources Corp from an “outperform” rating to a “neutral” rating in a research note on Friday. They now have a $8.30 price target on the stock. Separately, 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. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $9.15.

The stock’s 50-day moving average is $7.58 and its 200-day moving average is $7.99. The company’s market cap is $1.067 billion.

Magnum Hunter Resources Corp (NYSE:MHR) last issued its quarterly earnings data 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 $-0.63 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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