Quicksilver Resources (NYSE: KWK)‘s stock had its “neutral” rating reaffirmed by Zacks in a report released on Tuesday. They currently have a $1.75 target price on the stock.
Zacks‘ analyst wrote, “Quicksilver Resources Inc. yet again recorded mixed financial results in the fourth quarter 2012 with earnings significantly falling behind the Zacks Consensus Estimate while revenue surpassing it. Lower production levels compounded by weak realized prices led to the soft performance. We believe the company’s Barnett Shale and Horn River plays will be major revenue drivers in the upcoming quarters. Quicksilver’s effective product mix which involves greater emphasis towards natural gas could prove to be profitable given the steady recovery of natural gas prices. Moreover, the company’s strong hedging program and plans for integrating its upstream assets with downstream programs will complement growth. However, stringent regulatory laws and reliance on third-party for marketability of output could likely undermine growth. We retain our Neutral recommendation on the stock.”
Shares of Quicksilver Resources traded up 5.17% during mid-day trading on Tuesday, hitting $1.83. Quicksilver Resources has a one year low of $1.65 and a one year high of $5.97. The stock’s 50-day moving average is currently $2.62. The company’s market cap is $310.8 million.
Quicksilver Resources last released its earnings data on Monday, February 25th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by $0.02. The company had revenue of $179.10 million for the quarter, compared to the consensus estimate of $168.69 million. Quicksilver Resources’s revenue was down 19.7% compared to the same quarter last year. Analysts expect that Quicksilver Resources will post $-0.24 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays Capital cut their price target on shares of Quicksilver Resources from $3.00 to $2.50 in a research note to investors on Friday, February 15th. They now have an “underweight” rating on the stock. Analysts at Macquarie downgraded shares of Quicksilver Resources from a “neutral” rating to an “underperform” rating in a research note to investors on Friday, January 4th.
Quicksilver Resources Inc. (Quicksilver) is an independent energy company. The Company is primarily engaged in exploration, exploration, development, exploitation and production of natural gas, natural gas liquids (NGLs) and oil onshore in North America.
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