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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.

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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.


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