Welcome!

News Feed Item

Post-Earnings Briefing and Notes - Magnum Hunter Resources

Editor Note: For more information about this release, please scroll to bottom

LONDON, August 19, 2014 /PRNewswire/ --


Investor-Edge.com has issued free post-earnings briefing and notes on Magnum Hunter Resources Corporation (NYSE: MHR) as the company recently featured in the headlines on Friday, August 08, 2014 for reporting a 103% year-over-year surge in its adjusted earnings before interest, taxes, depreciation, depletion, amortization and exploration expenses (EBITDAX) in Q2 2014. Meanwhile, oil and gas revenues rose by 58% year-over-year in the second quarter of 2014. Our free coverage report can be accessed at:

http://www.investor-edge.com/register

Earnings Overview 

For the quarter ended June 30, 2014, primarily due to increases in oil and natural gas production and higher average realized commodity prices, Magnum Hunter Resources Corp.'s oil and gas revenues improved to $78.19 million from $49.58 million in Q2 2013. The company's midstream and marketing revenues rallied 246% year-over-year to $48.36 million. During the second quarter 2014, adjusted EBITDAX stood at $51.43 million, versus $25.39 million in the year-ago period. The company's oil and gas production from continuing operations increased 49% year-over-year to 1.449 million barrels of oil equivalent (MMBoe), or an average of 15,923 BOE per day (Boe/d) in Q2 2014 from 0.97 million BOE (MBoe), or an average of 10,664 Boe/d in the year ago period. The free research on MHR can be downloaded as in PDF format at:

http://www.Investor-Edge.com/MHRFreeReport

Till the date of Q2 2014 results announcement in 2014, Magnum Hunter Resources Corp. has divested several non-core assets, which resulted in net proceeds worth in excess of $100 million, before customary purchase price adjustments. The company has also decided to monetize its Divide County, North Dakota operated and non-operated properties and reallocate the financial resources to its core operations in the Appalachian Basin. During the quarter, the company acquired 15,228 net leasehold acres within the Marcellus and Utica Shale plays and 1,700 net mineral acres located in Monroe County, Ohio and Wetzel County, West Virginia. In the second quarter 2014, the company commenced or participated in the drilling of a total of 18 gross wells, of which 5 were operated by the Company. The company also recorded a success rate of 100% on the 10 wells in which it had a working interest that were completed during the reported period.

Mr. Gary C. Evans, Chairman of the Board and Chief Executive Officer at Magnum Hunter Resources Corp., said that the company's Q2 2014 financial numbers are symbolic to the changes in the business model with greater emphasis on Appalachian assets. Mr. Evans asserted that the company will continue this redirection and concentrate on the substantial leasehold position in the Marcellus and Utica Shale plays. He notified that though the company's production growth in 2014 is significantly back end loaded due to pad drilling, Magnum Hunter Resources Corp expects to meet its 2014 exit rate target of 32,500 Boe/d.

The Houston, Texas based-independent oil exploration and production company outperformed market expectations by reporting better than expected revenues for the second quarter 2014. During the quarter, total revenue surged to $132.52 million from $67.91 million in Q2 2013, thereby, outperforming the Bloomberg consensus estimate of $115.09 million. The company reported net loss attributable to common shareholders of $79.98 million, or $0.43 loss per share, in Q2 2014 as compared to net income of $151.31 million, or $0.89 per share, in the prior year quarter and Bloomberg net loss expectation of $26.50 million, or $0.16 loss per share. Sign up and read the free analyst's notes on MHR at:

http://www.Investor-Edge.com/MHR-19082014

Stock Performance  

On the day of the earnings release, Friday, August 08, 2014, Magnum Hunter Resources Corp.'s shares rallied 10.00% to close the session at $6.38. However, on the last close, Monday, August 18, 2014, the company's shares lost 1.11% to end the day at $6.24. The stock oscillated between $6.16 and $6.39 during the trading session. A total of 2.60 million shares were traded, which was below the three months average volume 3.64 million shares. Magnum Hunter Resources Corp.'s shares have advanced 3.31% in the previous three trading sessions, while the stock has lost 14.17 % in the last one month and 14.64 % on YTD basis. The stock is trading below its 50-day and 200-day moving averages $7.43 and $7.66, respectively. Moreover, Magnum Hunter Resources Corp.'s stock has a Relative Strength Index (RSI) of 41.25. Visit Investor-Edge and access the latest research on MHR at:

http://www.Investor-Edge.com/MHREarningsCoverage

Sneak Peek to Corporate Insider Trading  

In the last one month, Magnum Hunter Resources Corp. has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on MHR is available at:

http://www.Investor-Edge.com/MHRInsiderTrading

About Investor-Edge.com 

At Investor-Edge, we provide our members with a simple and reliable way to leverage our economy of scale. Most investors do not have time to track all publicly traded companies, much less perform an in-depth review and analysis of the complexities contained in each situation. That's where Investor-Edge comes in. We provide a single unified platform for investors' to hear about what matters. Situation alerts, moving events, and upcoming opportunities.

===============

EDITOR'S NOTES:

===============

1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.

2. Information in this release is produced on a best efforts basis by Rohit Tuli, a CFA charterholder. The content is then further fact checked and reviewed by an outsourced research provider. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.

3. This information is submitted as a net-positive to companies mentioned, to increase awareness for mentioned companies to our subscriber base and the investing public.

4. If you wish to have your company covered in more detail by our team, or wish to learn more about our services, please contact us at pubco [at] http://www.investor-edge.com.

5. For any urgent concerns or inquiries, please contact us at compliance [at] http://www.investor-edge.com.

6. Are you a public company? Would you like to see similar coverage on your company? Send us a full investors' package to research [at] http://www.investor-edge.com for consideration.

COMPLIANCE PROCEDURE

Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Investor-Edge, represented by Rohit Tuli, CFA. An outsourced research services provider has only reviewed the information provided by Investor-Edge in this article or report according to the procedures outlined by Investor-Edge. Investor-Edge is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.

NOT FINANCIAL ADVICE

Investor-Edge makes no warranty, expressed or implied, as to the accuracy or completeness or fitness for a purpose (investment or otherwise), of the information provided in this document. This information is not to be construed as personal financial advice. Readers are encouraged to consult their personal financial advisor before making any decisions to buy, sell or hold any securities mentioned herein.

NO WARRANTY OR LIABILITY ASSUMED

Investor-Edge is not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by Investor-Edge whatsoever for any direct, indirect or consequential loss arising from the use of this document. Investor-Edge expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Investor-Edge does not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.


SOURCE Investor-Edge

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
We are always online. We access our data, our finances, work, and various services on the Internet. But we live in a congested world of information in which the roads were built two decades ago. The quest for better, faster Internet routing has been around for a decade, but nobody solved this problem. We’ve seen band-aid approaches like CDNs that attack a niche's slice of static content part of the Internet, but that’s it. It does not address the dynamic services-based Internet of today. It does...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web ...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Phil Hombledal, Solution Architect at CollabNet, discussed how customers are able to achieve a level of transparency that e...
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
Kubernetes is a new and revolutionary open-sourced system for managing containers across multiple hosts in a cluster. Ansible is a simple IT automation tool for just about any requirement for reproducible environments. In his session at @DevOpsSummit at 18th Cloud Expo, Patrick Galbraith, a principal engineer at HPE, discussed how to build a fully functional Kubernetes cluster on a number of virtual machines or bare-metal hosts. Also included will be a brief demonstration of running a Galera MyS...
Internet-of-Things discussions can end up either going down the consumer gadget rabbit hole or focused on the sort of data logging that industrial manufacturers have been doing forever. However, in fact, companies today are already using IoT data both to optimize their operational technology and to improve the experience of customer interactions in novel ways. In his session at @ThingsExpo, Gordon Haff, Red Hat Technology Evangelist, will share examples from a wide range of industries – includin...
Unless your company can spend a lot of money on new technology, re-engineering your environment and hiring a comprehensive cybersecurity team, you will most likely move to the cloud or seek external service partnerships. In his session at 18th Cloud Expo, Darren Guccione, CEO of Keeper Security, revealed what you need to know when it comes to encryption in the cloud.
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...