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Magnum Hunter Resources Corporation (MHR) [hlAlert]

Rating:
Buy MHR
down 74.00 %

Magnum Hunter Resources Corporation (MHR) rated Buy by Citigroup

Posted on: Tuesday,  Jul 24, 2012  8:25 AM ET by Citigroup

Citigroup rated Buy Magnum Hunter Resources Corporation (NYSE: MHR) on 07/24/2012, when the stock price was $3.50. Since
then, Magnum Hunter Resources Corporation has lost 74.00% as of 10/12/2015's recent price of $0.91.
If you would have followed this Citigroup's recommendation on MHR, you would have lost 74% of your investment in 1175 days.

Magnum Hunter Resources Corporation, formerly Petro Resources Corporation, is an independent oil and gas company engaged in the acquisition, drilling and production of oil and natural gas properties and prospects within the United States. The acquisition and exploration pursuits of oil and natural gas properties are located in Texas, Louisiana, North Dakota, New Mexico and Kentucky. During the year ended December 31, 2008, the Company owned interests in approximately 286,282 gross (50,611 net) leasehold acres, of which 261,147 gross (43,281 net) acres are classified as undeveloped acreage. As of March 30, 2009, the Company held interests in approximately 238 producing wells in Texas, Louisiana and North Dakota. The Company?s drilling inventory includes prospects located in Texas, Louisiana, New Mexico, North Dakota and Kentucky. As of December 31, 2008, the total proved reserves of the Company were 3,118 thousand barrels of oil equivalent (mboe) net of production.

Citi Investment Research is a highly respected research unit and is comprised of 390 research analysts across 22 countries. Citi Investment Research covers 3,100 companies, representing 90 percent of the market capitalization of the major global indices, and provides macro and quantitative analysis of global markets and sector trends. Combined with Citi's exceptional sales and trading capabilities and Smith Barney's financial consultants, the core focus of the group is to help investing clients make informed decisions by providing value-added, independent, insightful analysis.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
7/24/2012 8:25 AM Buy
None
3.50
as of 12/31/2012
1 Week up  0.50 %
1 Month down  -0.99 %
3 Months down  -10.13 %
1 YTD up  14.00 %

(*) Stock Price at the time of the recommendation.
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