Magnum Hunter Resources (MHR) Improves Bottom Line

NEW YORK (TheStreet) -- Magnum Hunter Resources (MHR) reported a narrower-than-expected net loss on Monday, signaling continued improvement in earnings for the oil and gas company.

In the three months to December, the Houston-based oiler reported a net loss of 14 cents a share. Analysts surveyed by Thomson Reuters had anticipated a per-share loss of 20 cents.

Oil and gas revenues increased 64% over the quarter to $59.4 million from $36.1 million a year earlier. The jump was due to an increase in oil and gas production resulting from prior acquisitions and higher average realized commodity prices over the period.

Midstream and marketing sales spiked 595% to $18.2 million, primarily due to increased throughput volumes on the Eureka Hunter Pipeline Systems and increased third-party gas marketing volumes.

Despite the improvement, shares plunged over the trading session. By late afternoon, shares had dumped 5.4% to $8.45.

Also See: Magnum Hunter Resources Announces Gas Discovery at Utica Shale Well

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

TheStreet Ratings team rates MAGNUM HUNTER RESOURCES CORP as a Hold with a ratings score of C-. The team has this to say about their recommendation:

"We rate MAGNUM HUNTER RESOURCES CORP (MHR) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally higher debt management risk and disappointing return on equity."


STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

More from Markets

Video: There Are Some Big Changes Coming to the PGA Championships in 2019

Video: There Are Some Big Changes Coming to the PGA Championships in 2019

Video: One-on-One With Pluralsight's CEO Following Its Successful IPO

Video: One-on-One With Pluralsight's CEO Following Its Successful IPO

CBS-Viacom Battle Comes to a Head; FDA Approves Novartis Migraine Drug --ICMYI

CBS-Viacom Battle Comes to a Head; FDA Approves Novartis Migraine Drug --ICMYI

Listen: Here's What You Need To Know About ETFs Today (Hint: They're on Fire!)

Listen: Here's What You Need To Know About ETFs Today (Hint: They're on Fire!)

Cramer and His Team Stick to Their Disciplines -- Even When It's Disappointing

Cramer and His Team Stick to Their Disciplines -- Even When It's Disappointing