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Magnum Hunter Resources (MHR) Falls: Stock Goes Down 5.5%

Zacks Equity Research

Magnum Hunter Resources Corp. (MHR) saw a big move last session, as the company’s shares fell nearly 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This stock, trading at a volatile range of $7.83–$9.16 in the past one-month time frame, showed a sharp decline yesterday at $8.44.

This company in the Oil & Gas Drilling & Exploration space has seen 2 downward revisions over the past few weeks when it comes to current year estimate. Further, the current year consensus for earnings has remained stable over the past one month. This recent price action is discouraging, so make sure to keep a close watch of this firm in the near future, and especially on earnings estimates following the recent slump.

MHR currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.

Some better-ranked stocks in the same sector include Athlon Energy Inc. (ATHL), Matador Resources Company (MTDR) and Warren Resources Inc. (WRES). All these stocks carry a Zacks Rank #1 (Strong Buy).

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