Gastar Exploration Inc (GST) Rating Increased to Hold at Zacks Investment Research
Gastar Exploration Inc (NYSE:GST) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Gastar Exploration Ltd is an exploration and production company focusing on developing primarily natural gas. Gastar Exploration Ltd is based in Houston, Texas. “
Other analysts have also recently issued reports about the company. Imperial Capital started coverage on Gastar Exploration in a research note on Tuesday, September 19th. They issued an “in-line” rating and a $1.00 price target for the company. Williams Capital set a $1.00 target price on Gastar Exploration and gave the stock a “hold” rating in a research note on Friday, August 4th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Gastar Exploration has a consensus rating of “Hold” and an average target price of $1.40.
Shares of Gastar Exploration (NYSE GST) traded up 2.0567% on Tuesday, hitting $0.7195. 599,787 shares of the company’s stock traded hands. The company’s market cap is $143.57 million. The firm’s 50-day moving average price is $0.73 and its 200 day moving average price is $0.93. Gastar Exploration has a 1-year low of $0.38 and a 1-year high of $2.19.
Gastar Exploration (NYSE:GST) last announced its quarterly earnings results on Thursday, August 3rd. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The firm had revenue of $22.60 million during the quarter, compared to the consensus estimate of $18.78 million. Gastar Exploration’s revenue was up 85.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.12) earnings per share. On average, equities research analysts expect that Gastar Exploration will post ($0.17) earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of GST. Schwab Charles Investment Management Inc. increased its stake in Gastar Exploration by 124.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 540,300 shares of the company’s stock worth $501,000 after purchasing an additional 300,000 shares in the last quarter. Rhumbline Advisers bought a new stake in Gastar Exploration during the 2nd quarter worth approximately $163,000. Bank of New York Mellon Corp increased its stake in Gastar Exploration by 439.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 599,986 shares of the company’s stock worth $555,000 after purchasing an additional 488,849 shares in the last quarter. Deprince Race & Zollo Inc. increased its stake in Gastar Exploration by 9.2% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,011,084 shares of the company’s stock worth $936,000 after purchasing an additional 85,100 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Gastar Exploration by 2.4% during the 2nd quarter. Wells Fargo & Company MN now owns 254,924 shares of the company’s stock worth $236,000 after purchasing an additional 6,000 shares in the last quarter.
About Gastar Exploration
Gastar Exploration Inc, an independent energy company, engages in the exploration, development, and production of oil, condensate, natural gas, and natural gas liquids in the United States. Its principal activities include the identification, acquisition, exploration, and development of oil and natural gas properties on unconventional reserves, such as shale resource plays.
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