Magnum Hunter Stock Falls On Unusually High Volume (MHR)

NEW YORK ( TheStreet) -- Magnum Hunter Resources (NYSE: MHR) is trading at unusually high volume Friday with 15.7 million shares changing hands. It is currently at four times its average daily volume and trading down 22 cents (-4.6%) at $4.59 as of 10:25 a.m. ET.

Magnum Hunter has a market cap of $673.8 million and is part of the basic materials sector and energy industry. Shares are down 10.8% year to date as of the close of trading on Thursday.

Magnum Hunter Resources Corporation, an independent oil and gas company, engages in the acquisition, development, and production of oil and natural gas primarily in West Virginia, North Dakota, Texas, and Louisiana.

TheStreet Ratings rates Magnum Hunter as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins. You can view the full Magnum Hunter Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.
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