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From: gulleyjimson10/4/2011 1:28:47 PM
of 118433
 
Eight million shares so far... .we could see 15 by the end of the day.

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To: gulleyjimson who wrote (104738)10/4/2011 1:50:32 PM
From: Micawber
of 118433
 
Magnum Hunter (MHR) Shares Given New $4.00 Price Target by Wunderlich Analysts


Equities research analysts at Wunderlich lowered their price target on shares of Magnum Hunter (NYSE: MHR) from $10.00 to $4.00 in a research issued note to investors on Tuesday. They currently have a “buy” rating on the company’s shares.
Posted by LUSA Staff on Oct 4th, 2011 // No Comments

http://localizedusa.com/2011/10/04/magnum-hunter-mhr-shares-given-new-4-00-price-target-by-wunderlich-analysts/

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To: peter michaelson who wrote (104724)10/4/2011 2:01:45 PM
From: Biomaven
of 118433
 
see the worst things that anyone has to say about it

Well shorts don't usually provide their analysis until they want to cover. :)

But if I had to guess, the shorts will find some fly-by-night oil company in roughly the same space that has stretched its production projections some. So the company will have projected say 10k Boepd, and actually produced 8k. Then the shorts will be able to say: "See - the long-term shale production projections [in region X] are all too high - these wells deliver at high rates for a bit and then drop off sharply."

Of course the problem for an outsider is we don't really know if they are correct or not.

Peter

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From: CommanderCricket10/4/2011 2:13:09 PM
of 118433
 
Are there any covenants or debt restrictions placed on MHR?

About ready to take out lows of the day. Since lunch the selling has picked again and is relentless.

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From: gulleyjimson10/4/2011 2:20:59 PM
of 118433
 
What the Hell is going on? This is not Arakis Energy.

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To: Micawber who wrote (104739)10/4/2011 2:46:18 PM
From: Sam
of 118433
 
I find it bizarre that they would lower their PT to $4 from $10 given the recent news from the company. The macro environment is obviously bad, but if they are largely hedged for 2012, what is the problem? Maybe I'm being optimistic here, but surely the economic picture will get better in a year.

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To: Sam who wrote (104743)10/4/2011 2:49:33 PM
From: CusterInvestor
of 118433
 
typical anal-yst lowering price target after a price drop
when it rebounds that can say they were right
added another tranche MHR 2.43 thinking short covering might take it back near 3

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To: Sam who wrote (104743)10/4/2011 2:54:45 PM
From: Keith J
of 118433
 
I saw Bernstein lowered PTEN's price target yesterday to $30, and dropped their rating to "market perform". Nearly 100% upside from current price and is rated market perform.

Is it any wonder we have so little faith in Wall Street brokerages?

KJ

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To: Keith J who wrote (104745)10/4/2011 3:00:11 PM
From: Sam
of 118433
 
the only real explanation I can come up with is "fear." Fundamentals seem to justify much higher prices, but the macro situation is so dicey and complicated that no one really knows what Mr. Market is going to do next, or if those fundamentals will be allowed to bear fruit. Debt bubbles are confusing and terrible things, and when they explode they can cause all sorts of unknowable collateral damage.

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To: peter michaelson who wrote (104724)10/4/2011 3:02:15 PM
From: IRWIN JAMES FRANKEL
of 118433
 
It was only a couple of years ago that crude dropped under $40, and I remember too well it dropping to single digits a decade or so back.

The US came out of the recession weakly, and may again go into recession - but this time with much of the rest of the world.

What would that do for crude pricing?

ij

BTW - I am NOT saying that will happen - just that it could and would not be good for MHR. In fact, I am long MHR. :-)

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