Wall Street Fundamentals Releases New In-Depth Stock Reports on DNR, FST, MHR and TPLM
On Monday, oil prices spiked to nine-month highs on concerns of growing tensions in the Middle East. In early trading benchmark oil for July delivery spiked to $98.74, its highest this year, on the New York Mercantile Exchange. There have been concerns that the conflict in Syria could spread, disrupting oil supplies in the process. Oil prices have also been buoyed by hopes that the U.S. Federal Reserve will maintain its aggressive stimulus measures. Policy makers will begin a two-day meeting Tuesday. Here is how some oil stocks reacted Monday:
Denbury Resources Inc. (NYSE: DNR) shares traded in the range of $18.02 to $18.38 Monday before settling to close at $18.18, an increase of 2.02 percent. The stock appears to be facing some resistance at $18.44 with some support at $18.12. The company reported oil production from tertiary operations was 39,057 barrels per day for the first quarter of 2013, an increase of 17 percent when compared to the year ago quarter. Shares of Denbury Resources have gained approximately 12.2 percent in 2013.
More information on Denbury Resources and access to the free equity report can be found at:
Forest Oil Corporation (NYSE: FST) shares traded in the range of $4.32 to $4.42 Monday before settling to close at $4.37, an increase of 2.10 percent. The stock appears to be facing resistance at the $4.45 and $4.88 levels. The company reported average net sales volumes were 243 MMcfe/d for the first quarter of 2013, a decrease of 28 percent year-over-year. Shares of Forest Oil have fallen approximately 34.7 percent in 2013.
More information on Forest Oil and access to the free equity report can be found at:
Magnum Hunter Resources Corp. (NYSE: MHR) shares traded in the range of $3.76 to $3.90 Monday before settling to close at $3.81, an increase of 1.87 percent. The stock appears to be facing resistance at $4.02 with some support at $3.78. The company reported revenues were $271.0 million for the full year 2012, an increase of 138 percent year-over-year. Shares of Magnum Hunter Resources have fallen approximately 4.5 percent in 2013.
More information on Magnum Hunter Resources and access to the free equity report can be found at:
Triangle Petroleum Corporation (NYSEMKT: TPLM) shares traded in the range of $6.86 to $7.60 Monday before settling to close at $7.41, an increase of 8.18 percent. The stock appears to have some support at the $7.30 and $7.15 levels. The company reported sales volumes increased to 242 Mboe for the first quarter of fiscal 2014, an increase of 284 percent year-over-year. Shares of Triangle Petroleum have gained approximately 23.7 percent in 2013.
More information on Triangle Petroleum and access to the free equity report can be found at:
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Disclaimer: Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. Wall Street Fundamentals has no financial relationship with any company whose stock is mentioned in this release.
Wall Street Fundamentals
Source: Accesswire IA
(June 18, 2013 - 8:40 AM EDT)
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