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
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the USA and Europe, we work with a variety of customers from emerging startups to Fortune 1000 companies.
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Translating agile methodology into real-world best practices within the modern software factory has driven widespread DevOps adoption, yet much work remains to expand workflows and tooling across the enterprise. As models evolve from pockets of experimentation into wholescale organizational reinvention, practitioners find themselves challenged to incorporate the culture and architecture necessary to support DevOps at scale. In his session at @DevOpsSummit at 20th Cloud Expo, Anand Akela, Senior...