Magnum Hunter Resources Corp Receives Average Recommendation of “Buy” from Analysts (NYSE:MHR)
Shares of Magnum Hunter Resources Corp (NYSE:MHR) have been given a consensus rating of “Buy” by the seventeen analysts that are presently covering the company, Analyst Ratings.Net reports. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $9.08.
Shares of Magnum Hunter Resources Corp (NYSE:MHR) traded up 0.59% during mid-day trading on Friday, hitting $6.84. The stock had a trading volume of 653,343 shares. Magnum Hunter Resources Corp has a 52 week low of $4.57 and a 52 week high of $9.27. The stock has a 50-day moving average of $6.70 and a 200-day moving average of $7.76. The company’s market cap is $1.364 billion.
Magnum Hunter Resources Corp (NYSE:MHR) last released its earnings data on Friday, August 8th. The company reported ($0.09) earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.18) earnings per share. Magnum Hunter Resources Corp’s revenue was up 57.7% compared to the same quarter last year. Analysts expect that Magnum Hunter Resources Corp will post $-0.52 EPS for the current fiscal year.
In other Magnum Hunter Resources Corp news, Director James Raleigh Bailes purchased 10,000 shares of Magnum Hunter Resources Corp stock on the open market in a transaction that occurred on Friday, August 15th. The shares were purchased at an average cost of $6.29 per share, for a total transaction of $62,900.00. 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 Imperial Capital cut their price target on shares of Magnum Hunter Resources Corp from $8.00 to $7.00 in a research note on Wednesday, August 13th. They now have an “in-line” rating on the stock. Separately, 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. Finally, 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.
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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