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MLV & Co Sees Multiple Positive Catalysts For Gastar Exploration

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In a report published Monday, MLV & Co analyst Chad Mabry reiterated a Buy rating and $11.00 price target on Gastar Exploration (NYSE: GST).

In the report, MLV & Co noted, “GST reported Q2'14 adj. EPS of $0.12, beating both the $0.02 consensus and our $0.01 estimate. CFPS of $0.30 also topped the $0.24 consensus and our $0.21. Q2'14 production of 56.8 MMcfe/d (52% gas) was at the high end of guidance and 8% above our forecast on better-than-expected liquids volumes. Note that the company benefited from a $10.6 million arbitration settlement related to a natural gas contract. While we would normally treat this item as non-recurring, in this case we are including it in our numbers as operating expenses were also adjusted, resulting in an apples-and-apples accounting.”

Gastar Exploration closed on Friday at $7.44.

Latest Ratings for GST

DateFirmActionFromTo
Oct 2016FBR CapitalDowngradesOutperformMarket Perform
Aug 2016Williams CapitalInitiates Coverage onHold
Aug 2016iBERIA Capital PartnersAssumesSector Perform

View More Analyst Ratings for GST
View the Latest Analyst Ratings

Posted-In: Chad Mabry MLV & CoAnalyst Color Reiteration Analyst Ratings

 

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