Insider Selling: Quicksilver Resources major shareholder Sells 10,000 Shares of Stock (KWK)
Quicksilver Resources (NYSE:KWK) major shareholder Thomas F. Darden sold 10,000 shares of Quicksilver Resources stock on the open market in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $1.27, for a total value of $12,700.00. Following the completion of the sale, the insider now directly owns 5,486,672 shares in the company, valued at approximately $6,968,073. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Quicksilver Resources (NYSE:KWK) remained flat at $1.24 during trading on Wednesday. 3,460,916 shares of the company’s stock traded hands. Quicksilver Resources has a 1-year low of $1.03 and a 1-year high of $3.67. The stock’s 50-day moving average is $1.55 and its 200-day moving average is $2.45. The company’s market cap is $215.3 million. Quicksilver Resources also was the target of a significant decline in short interest during the month of August. As of August 15th, there was short interest totalling 24,603,766 shares, a decline of 10.7% from the July 31st total of 27,553,572 shares. Based on an average daily trading volume, of 5,315,338 shares, the short-interest ratio is presently 4.6 days. Currently, 19.6% of the company’s shares are sold short.
Quicksilver Resources (NYSE:KWK) last released its earnings data on Tuesday, August 5th. The company reported ($0.07) earnings per share for the quarter, meeting the analysts’ consensus estimate of ($0.07). The company had revenue of $107.00 million for the quarter, compared to the consensus estimate of $107.82 million. During the same quarter last year, the company posted ($0.06) earnings per share. Quicksilver Resources’s revenue was down 9.3% compared to the same quarter last year. Analysts expect that Quicksilver Resources will post $-0.30 EPS for the current fiscal year.
Separately, analysts at Global Hunter Securities downgraded shares of Quicksilver Resources from an “accumulate” rating to a “neutral” rating in a research note on Wednesday, August 6th. They now have a $3.00 price target on the stock, down previously from $5.00.
Quicksilver Resources Inc (NYSE:KWK) is an independent oil and gas company engaged primarily in the acquisition, exploration, development and production of onshore oil and gas in North America.
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