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Magnum Hunter Resources Corp (NYSE:MHR) shares shot up 6.2% on Friday after the company announced better than expected quarterly earnings, AnalystRatingsNetwork reports. The company traded as high as $6.34 and last traded at $6.16, with a volume of 3,683,790 shares changing hands. The stock had previously closed at $5.80.

The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.08. The company had revenue of $132.52 million for the quarter, compared to the consensus estimate of $105.50 million. During the same quarter in the previous year, the company posted ($0.18) earnings per share. The company’s revenue for the quarter was up 57.7% on a year-over-year basis.

Several analysts have recently commented on the stock. 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. 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. 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 assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $9.15.

In other Magnum Hunter Resources Corp news, EVP Hershal C. Ferguson III unloaded 5,400 shares of Magnum Hunter Resources Corp stock on the open market in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $6.40, for a total transaction of $34,560.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

The stock’s 50-day moving average is $7.38 and its 200-day moving average is $7.94. The company’s market cap is $1.111 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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