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Marketwire (May 7, 2013)
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MHR vs. ETF Alternatives
Company Description
Currently, there's no company description for MHR.
- All
- | Earnings
- | Dividends
- | M&A
- | On the move
- Tuesday, May 7, 12:48 PM Magnum Hunter (MHR +3.3%) announces the acquisition of a new drilling rig for the Utica shale in Ohio, which raises its fleet to five rigs. Unlike traditional drilling rigs which are on rails and only allow limited movement, MHR's T500XD rig has a walking sub-base which lifts the entire rig six inches above the ground allowing it to turn and rotate. MHR also discloses a 15.3% passive stake in Penn Virginia (PVA +2%). 7 Comments [Energy, On the Move]
- Wednesday, April 24, 3:10 PM Magnum Hunter (MHR +16.9%) shares have been pushing higher all day, although the only news is the closing of the previously announced sale of Eagle Ford shale properties to Penn Virginia (PVA) for $401M. The stock actually received a downgrade, to Neutral from Add at CapitalOne; earlier this week, Deutsche Bank cut shares to Hold and chopped its price target in half. 4 Comments [Energy, On the Move]
- Friday, April 19, 10:24 AM Goldman suspends coverage of Magnum Hunter (MHR -6.6%) due to a lack of sufficient visibility into MHR's financials following the dismissal of its auditor and another delay in the filing of its 2012 10-K. UBS downgrades shares to Neutral from Buy and cuts its price target to $3 from $5, saying management provided some clarity on its conference call but only from its perspective. 17 Comments [Energy, On the Move]
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Wednesday, April 17, 5:45 PM
After-hours top gainers, as of 5:15 p.m.: CONE +9%. SLCA +4%. MXIM +4%. LNC +4%. MHR +3%.
After-hours top losers: SCSS -7%. CCK -4%. SNDK -3%. NAVB -3%. EBAY -2%. Comment! [On the Move] - Wednesday, April 17, 2:13 PM Magnum Hunter (MHR -18.6%) is defended by SunTrust after the oil and gas explorer fired its auditor, sending shares plunging, Analyst Neal Dingmann says a major writedown is unlikely, and he believes proven reserves, MHR's credit facility and sales in Eagle Ford will not be affected. SunTrust has a Buy rating on the stock with a $10 price target. 7 Comments [Energy, On the Move]
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Wednesday, April 17, 12:59 PM
Midday top 10 gainers: ACUR +53%. ECTY +16%. PCYG +16%. ALKS +15%. OCZ +15%. OGEN +14%. RECV +12%. CASM +11%. ATLS +11%. CHLN +11%.
Midday top 10 losers: EOPN -26%. CNIT -26%. INWK -25%. MHR -21%. CXW -18%. CRMB -16%. CRUS -16%. EPAX -14%. BMI -14%. EMXX -14%. Comment! [On the Move] - Wednesday, April 17, 9:43 AM Magnum Hunter (MHR -17.7%) plunges at the open after disclosing it dismissed Pricewaterhouse as its auditor. MHR says PwC advised that information had come to its attention that if further investigated may have a material impact on the fairness or reliability of consolidated financial statements. 14 Comments [Energy, On the Move]
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Wednesday, April 17, 9:12 AM
Premarket gainers: VRML +29%. ACUR +26%. OCZ +18%. CUR +9%. ALKS +9%. ABMD +9%. ASML +6%.
Losers: EOPN -29%. INWK -25%. CXW -15%. MHR -12%. ZGNX -11%. TXT -9%. CRUS -7%. VRNG -6%. 1 Comment [On the Move] - Tuesday, April 16, 2:29 PM Two workers injured in an explosion last week at a West Virginia compression station owned by Magnum Hunter (MHR -0.9%) reportedly have died. The flash fire "was fueled by natural gas liquids that ignited in tanks during pipeline pigging operations," MHR had said earlier; the pipeline was shut as a safety precaution, affecting ~2,170 boe/day of production from nearby MHR wells. 2 Comments [Energy]
- Tuesday, April 16, 8:40 AM Magnum Hunter (MHR) +5.4% premarket after issuing its Q1 operational update. Total daily production nears 20K boe/day; MHR says it is not cutting its 2013 production guidance even after losing ~3,200 boe/day later this month due to its Eagle Ford sale. Maintains overall $300M upstream capex budget for the year. Comment! [Energy, On the Move]
- Monday, April 15, 7:00 PM The list of 52-week lows reached today is littered with miners and resource names: ABX, ACI, AG, AKS, ANV, AU, AUQ, AUY, CDE, CLF, CVE, EGO, EXK, EXXI, FCX, FNV, FST, GFI, GG, GOLD, HL, HMY, IAG, IPI, KGC, MHR, MT, MTL, NEM, NFX, NG, NGD, NOG, PAAS, PWE, RGLD, RIC, SA, SAND, SGY, SSRI, SVM, TCK, TGB, TRQ, WLT, WTI, X. 5 Comments [Commodities, Energy]
- Friday, April 12, 1:54 PM Magnum Hunter Resources (MHR -2.5%) begins drilling its first operated well in Ohio's Utica shale, not far from three horizontals drilled by MHR targeting the Marcellus shale to the east. MHR says about half of its 79K-acre net Utica position is in the wet-gas window of the play. 3 Comments [Energy, On the Move]
- Wednesday, April 3, 2:58 PM Recent asset sales (I, II) by Magnum Hunter (MHR +3.9%) and Quicksilver Resources (KWK +2.9%) are just the beginning, as drillers reach a point where their cash flow isn't enough to pay down big debts racked up in the shale land grab. The combined long-term debt for 85 small and midsize U.S. drillers was more than $130B at the end of Q3 2012, according to one estimate. 2 Comments [Energy, On the Move]
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Wednesday, April 3, 9:10 AM
Premarket gainers: CALL +14%. CONN +10%. ZNGA +10%. ASTX +10%. UNXL +9%. AWRE +9%. OMPI +9%. NVAX +9%. ALXA +8%. MHR +7%. NFX +6%.
Losers: MSPD -19%. GPN -7%. 3 Comments [On the Move] - Wednesday, April 3, 7:20 AM Penn Virginia (PVA) says it will buy all of Magnum Hunter Resources' (MHR) Eagle Ford Shale properties for $401M in a deal slated to close by mid-May. The purchase will add the equivalent of over 3.2M barrels of oil production a day for the company. 6 Comments [Energy, M&A]
- Monday, March 18, 2:58 PM Magnum Hunter's (MHR -0.6%) conference call went a long way toward reassuring investors after the delay in filing its 10-K. After changes in MHR's auditor and reserve engineer, accounting work has been overwhelming, CEO Gary Evans says; he was confident enough to issue positive preliminary numbers. After putting out today's press release, MHR received approval from all its lenders. 5 Comments [Energy]
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Clayton Rulli
Cramer on $MHR : "I have had it with Magnum Hunter. I screwed up on it. They have too many problems. They blew it." - View all 7 replies
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Clayton Rulli: makes sense though. Where is the FCC action considering no 10-k from 2012 and we are already in May!
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Mike Maher
Ohio DNR confrence starting now follow #ohioutica for updates $MHR $GPOR $PDCE $CHK $HES http://bit.ly/19zrYVh - View all 6 replies
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Kevin Chapman: "Richard Zeits states it is a buyers market in the shale plays". Sounded similar of the recent articles he wrote about $CHK/Marcellus sales -
Mike Maher: SA should talk that up, give the man credit where credit is due
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inandoutnevertoolate
$PVA look at it go. (sold too early) Should also be a win for $MHR who got shares at $4 in exchange for shale oil acreage sale. - View all 0 replies
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Mike Maher: If you read the transcript of the conference call about the auditor switch I think thats where I heard it?
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losbronces: To meet the requirements of their creditors, they cannot make the payments on ps until the filings are updated. Still accumulating though.
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Ocean Man: After averaging down on the big drop, I needed $3.05 to break even. $3.17 is a 4% gain I am quite happy to take.
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jmok322: Good trade! Prob should have gone in with you in the low 2s but seemed to be too much financial instability at the time
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LATEST REPLIES
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Clayton Rulli
Cramer on $MHR : "I have had it with Magnum Hunter. I screwed up on it. They have too many problems. They blew it." - View all 7 replies
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Clayton Rulli: makes sense though. Where is the FCC action considering no 10-k from 2012 and we are already in May!
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Mike Maher
Ohio DNR confrence starting now follow #ohioutica for updates $MHR $GPOR $PDCE $CHK $HES http://bit.ly/19zrYVh - View all 6 replies
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Kevin Chapman: "Richard Zeits states it is a buyers market in the shale plays". Sounded similar of the recent articles he wrote about $CHK/Marcellus sales
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Mike Maher: SA should talk that up, give the man credit where credit is due
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- View all 2 replies
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- View all 6 replies
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Mike Maher: If you read the transcript of the conference call about the auditor switch I think thats where I heard it?
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losbronces: To meet the requirements of their creditors, they cannot make the payments on ps until the filings are updated. Still accumulating though.
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- View all 2 replies
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Ocean Man: After averaging down on the big drop, I needed $3.05 to break even. $3.17 is a 4% gain I am quite happy to take.
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jmok322: Good trade! Prob should have gone in with you in the low 2s but seemed to be too much financial instability at the time
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Clayton Rulli
from $MHR 8-k : unproved property impairments in the amount of $71 million which will be recorded in the quarter ended December 31, 2012. - View all 7 replies
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mrfocus: Heavy yet short term pain... you think its factored into the share price yet??
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Ocean Man: MHR's trouble is from disagreeing with the previous auditor, not hiring BDO.
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bkuchen: Interesting point...Now we must see how this issue is resolved.
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zack54: I agree, I've just gotten long at 2.75 and all my sources and info I've read gives me a .25 down and 2.25 up for 2013
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bkuchen: On the -.25 front...where have you dug to come up with this?
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Albert Alfonso: Wow, MHR really got crushed, even the preferred loss like 8%. -
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Clayton Rulli: nice. I cant believe I bought this thing but what the heck!
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