Magnum Hunter Resources Corp (MHR) Posts Quarterly Results
Magnum Hunter Resources Corp (NYSE:MHR) announced its earnings results on Friday. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.08, ARN reports. The company had revenue of $132.52 million for the quarter, compared to the consensus estimate of $105.50 million.
A number of analysts have recently weighed in on MHR shares. Analysts at Zacks downgraded shares of Magnum Hunter Resources Corp from an “outperform” rating to a “neutral” rating in a research note on Friday, August 1st. They now have a $8.30 price target on the stock. On the ratings front, 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. 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. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $9.15.
In other Magnum Hunter Resources Corp news, EVP Hershal C. Ferguson III sold 5,400 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $6.40, for a total value of $34,560.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Magnum Hunter Resources Corp (NYSE:MHR) opened at 5.80 on Friday. Magnum Hunter Resources Corp has a 52 week low of $3.86 and a 52 week high of $9.27. The stock has a 50-day moving average of $7.38 and a 200-day moving average of $7.94. The company’s market cap is $1.023 billion.
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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