Dallas, Texas 03/18/2014 (FINANCIALSTRENDS) – Magnum Hunter Resources Corp (NYSE:MHR) during first week of March announced monthly cash dividend of 10.25% on the Company’s 10.25% Series C Cumulative Perpetual Preferred Stock, 8.0% on Series D Cumulative Preferred Stock and Series E Cumulative Convertible Preferred Stock. For Series C Preferred Stock, the dividend is payable on March 31, 2014 and share holders who are on company’s list as of March 14, 2014 are eligible. Based on the $25.00 per share liquidation preference of the Series C Preferred Stock, it will be around $0.2135 per share. For Series D Preferred Stock, based on the $50.00 per share liquidation, $0.3333 per share will be paid out on March 31, 2014, to all the share holders who are on company’s record as of March 14, 2014. For the Series E Preferred Stock payment will be an annualized 8.0% per share which is based on the $25,000.00 per share liquidation preference and around $166.6667 per share will be paid. Shareholders who are listed on the company’s records as of March 14, 2014 are eligible for this payout.
Magnum Hunter Resources Corp (NYSE:MHR) Rated Buy
The company with market cap of $1.27B reported $0.14 earnings per share for the quarter exceeding analysts’ consensus estimate by $0.07. It posted revenue of $77.60 million compared to consensus estimate of $84.72 million. According to the reports the company witnessed one year low of $2.37 and a one year high of $9.27. The company’s stock’s 50-day moving average is $8.22 and its 200-day moving average is $7.11.
The company’s shares have been weighed by market analysts. Wunderlich’s analysts recommended a “buy” in their research note with price target of $12.00 from $10.00. Analysts at Canaccord Genuity have rated the company’s share as buy with price target raised to $9.50 from $8.00. With seven analysts recommending hold and eight rating it as buy, company currently has a consensus rating of “Buy” and a consensus price target of $7.70.