1. Magnum Hunter Resources (MHR) is an independent oil and gas company, active in the Marcellus Shale, Eagle Ford and Williston basin.
The company's 2010 production increased 133% to 597 million barrel oil equivalent (Mboe) from 257 Mboe in 2009. The company expanded its lease acreage positions in Eagle Ford and Marcellus Shale plays. For fiscal 2010, Magnum's net revenue increased to $32 million from $6.8 million in 2009.
Magnum's proposed 2011 fiscal capital expenditure is about $150 million which it plans to deploy for drilling in unconventional resource plays, including the oil leg of the Eagle Ford Shale play and the liquids rich portion of the Marcellus Shale in northwest West Virginia consisting of 12 net wells. Marcellus Shale holds 47,000 net acres, around one-third of its total acreage area.Analysts expect the stock to deliver 19% in the next one year with buy ratings of 88%. The stock is trading at 19.6 times its estimated 2012 earnings. >>To see these stocks in action, visit the 9 Marcellus Shale Stocks With Top Buy Ratings portfolio on Stockpickr.