MLV & Co Sees Magnum Hunter Resources Corp. Set New Record for The Utica

In a report published Thursday, MLV & Co analyst Chad Mabry reiterated a Buy rating and $11.00 price target on

. In the report, MLV & Co noted, “MHR's Stewart Winland 1300U (100% w.i.) tested at a peak rate of 46.5 MMcf/d on an adjustable rate choke after being drilled with a 5,289' lateral and completed with 22 frac stages. This is an overwhelmingly positive result for 2 main reasons: (1) it is the highest IP rate reported to date in the Utica dry gas window and (2) it is an important marker for the SE extension of the play.” Magnum Hunter Resources Corp. closed on Wednesday at $5.46.