Imperial Capital Sees Magnum Hunter Resources Moving Closer To Exercising Liquidity Options

In a report published Thursday, Imperial Capital analyst Kim Pacanovsky reiterated an In-Line rating and $2.75 price target on Magnum Hunter Resources Corp. (NYSE: MHR).

In the report, Imperial Capital noted, "We are maintaining our In-Line rating and our one-year price target of $2.75 on MHR shares. Our price target is about 2% above the recent share price. On 3/2/15, MHR announced 4Q14 and FY14 results. While MHR is taking steps to improve its tenuous liquidity position, we believe, its liquidity will remain a lingering concern until after the company sells its further interests in the Eureka Hunter pipeline and/or JV its Utica acreage. MHR does not have a rig or frack crew under contract and possesses an impressive back log of wells primed from completion with a return of higher commodity prices, but the timing of MHR's efforts to bolster liquidity will become increasingly pertinent in order for MHR to receive the full value from its Utica leasehold."

Magnum Hunter Resources closed on Wednesday at $2.69.