Gastar Exploration Inc (GST) Given a $2.00 Price Target at Canaccord Genuity
Gastar Exploration Inc (NYSEMKT:GST) has been assigned a $2.00 target price by investment analysts at Canaccord Genuity in a research note issued on Monday. The firm currently has a a “buy” rating on the energy company’s stock. Canaccord Genuity’s price target points to a potential upside of 92.31% from the company’s current price.
GST has been the subject of a number of other reports. Imperial Capital reissued a “buy” rating and set a $1.30 price target on shares of Gastar Exploration in a research note on Tuesday, June 21st. Zacks Investment Research raised shares of Gastar Exploration from a “hold” rating to a “buy” rating and set a $1.25 price target for the company in a research note on Tuesday, July 5th. Iberia Capital reissued a “sector perform” rating on shares of Gastar Exploration in a research note on Wednesday, August 10th. Finally, Williams Capital initiated coverage on shares of Gastar Exploration in a research note on Monday, August 29th. They set a “hold” rating and a $1.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. Gastar Exploration currently has a consensus rating of “Hold” and an average target price of $1.71.
Shares of Gastar Exploration (NYSEMKT:GST) traded down 3.85% during mid-day trading on Monday, reaching $1.00. 522,197 shares of the company were exchanged. The firm has a 50-day moving average price of $0.92 and a 200 day moving average price of $1.05. The stock’s market capitalization is $104.01 million. Gastar Exploration has a 12 month low of $0.57 and a 12 month high of $2.21.
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Gastar Exploration (NYSEMKT:GST) last released its quarterly earnings results on Thursday, August 4th. The energy company reported ($0.12) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.11) by $0.01. The business had revenue of $12.20 million for the quarter, compared to analysts’ expectations of $13.75 million. The firm’s quarterly revenue was down 44.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.13) EPS. Equities research analysts anticipate that Gastar Exploration will post ($0.44) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in GST. Oxford Asset Management boosted its position in shares of Gastar Exploration by 77.7% in the second quarter. Oxford Asset Management now owns 149,234 shares of the energy company’s stock valued at $164,000 after buying an additional 65,237 shares during the last quarter. Spark Investment Management LLC acquired a new position in shares of Gastar Exploration during the second quarter valued at approximately $103,000. Bridgeway Capital Management Inc. boosted its position in shares of Gastar Exploration by 31.8% in the second quarter. Bridgeway Capital Management Inc. now owns 414,078 shares of the energy company’s stock valued at $455,000 after buying an additional 100,000 shares during the last quarter. LMR Partners LLP acquired a new position in shares of Gastar Exploration during the second quarter valued at approximately $141,000. Finally, Vanguard Group Inc. boosted its position in shares of Gastar Exploration by 5.0% in the second quarter. Vanguard Group Inc. now owns 2,970,562 shares of the energy company’s stock valued at $3,267,000 after buying an additional 141,706 shares during the last quarter.
Gastar Exploration Company Profile
Gastar Exploration Ltd (Gastar) is an independent energy company engaged in the exploration, development and production of natural gas and oil in the United States. The Company’s principal business activities include the identification, acquisition, and subsequent exploration and development of natural gas and oil properties with an emphasis on unconventional reserves, such as shale resource plays.
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