Will Magnum Hunter Resources Corp(NYSE:MHR), McDermott International(NYSE:MDR) and Emerald Oil Inc(NYSEMKT:EOX) Recover From Their Recent Losses?
New York, NY – GDP INSIDER – 01/13/2015.
This article discusses three companies: Magnum Hunter Resources Corp(NYSE:MHR), McDermott International(NYSE:MDR) and Emerald Oil Inc(NYSEMKT:EOX)
Magnum Hunter Resources Corp(NYSE:MHR) traded for a new 52-week low of $2.65 yesterday before closing the day at a closing price of $2.68 after a loss of 6.62% to $0.19 per share as analysts at Goldman Sachs cut their 3-month forecasts for Brent crude oil from $80 to $42/barrel and $70 to $41/barrel for WTI. The firm also lowered its 2015 forecast for Brent from $83.75 to $50.40/barrel and from $70 to $42/barrel for WTI crude oil. Analysts at Societe Generale also cut their price target for 2015 for Brent to $55 from $70/barrel and $65 to $51/barrel for WTI.
Recently, analysts at Barclays downgraded their rating on the shares of McDermott International(NYSE:MDR) from ‘overweight’ to ‘equal weight’ and dropped its price target to $4 from $7. The stock traded for a new intraday low of $2.60 yesterday before closing the day at a closing price of $2.63 after a loss of 7.72% to $0.22 per share as prices for WTI crude oil dropped 4.6% to $46/barrel and 5.2% to $47.51/barrel for Brent crude oil for February delivery during intraday trading. The stock has a market cap of $681.18 million and traded 5.08 million, which is lower than its 30-day average trading volume of 6.26 million.
Emerald Oil Inc(NYSEMKT:EOX) had a trading volume of 1.67 million yesterday, which is 1.21 million lower than its 3-month average trading volume of 2.88 million. The stock currently stands at a weekly performance of -16.98%, monthly performance of -33.33%, quarterly performance of -79.68% and YTD performance of -26.67%. These figures indicate that Emerald Oil Inc is on the decline. Recently, analysts at Zacks downgraded their ‘neutral’ rating to ‘underperform’ rating with a price target set to $1 per share. The stock has a beta of 1.91, meaning it is 91% more volatile than the market, and a 52-week change of -88.42%.
HotStockGains.com provides investors and traders with trading strategies via text message and email. To obtain text message stock alerts service text the word BREAKOUT to 555888 from your cell phone.
Additionally, HotStockGains free newsletter provides market insight, tips, and trading strategies on NYSE, NASDAQ, OTCBB and PINK stocks.
Disclosure: HotStockGains is not a registered investment adviser and nothing contained in any materials should be construed as a recommendation to buy or sell securities. Investors should always conduct their own due diligence with any potential investment. Always seek help from a professional financial advisor (I am not one). Please visit http://hotstockgains.com/disclaimer/ for complete risks and disclosures.