Insider Buying: Jeff Swanson Acquires 1,500 Shares of Magnum Hunter Resources Corp Stock (MHR)
Magnum Hunter Resources Corp (NYSE:MHR) Director Jeff Swanson purchased 1,500 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was purchased at an average price of $6.20 per share, for a total transaction of $9,300.00. Following the purchase, the director now directly owns 136,277 shares in the company, valued at approximately $844,917. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Magnum Hunter Resources Corp (NYSE:MHR) traded down 4.37% on Thursday, hitting $6.13. The stock had a trading volume of 3,671,321 shares. Magnum Hunter Resources Corp has a 52-week low of $5.13 and a 52-week high of $9.27. The stock has a 50-day moving average of $6.61 and a 200-day moving average of $7.72. The company’s market cap is $1.222 billion.
Magnum Hunter Resources Corp (NYSE:MHR) last released its earnings data on Friday, August 8th. The company reported ($0.09) EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted ($0.18) earnings per share. The company’s quarterly revenue was up 57.7% on a year-over-year basis. Analysts expect that Magnum Hunter Resources Corp will post $-0.55 EPS for the current fiscal year.
MHR has been the subject of a number of recent research reports. Analysts at KLR Group initiated coverage on shares of Magnum Hunter Resources Corp in a research note on Tuesday. They set a “hold” rating and a $6.00 price target on the stock. Separately, 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. Finally, 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. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $8.89.
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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