$19.84 Million in Sales Expected for Gastar Exploration Inc (GST) This Quarter

Equities research analysts expect that Gastar Exploration Inc (NYSE:GST) will announce sales of $19.84 million for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Gastar Exploration’s earnings. The lowest sales estimate is $18.40 million and the highest is $21.90 million. Gastar Exploration reported sales of $13.00 million during the same quarter last year, which indicates a positive year over year growth rate of 52.6%. The company is scheduled to report its next earnings report on Thursday, November 2nd.

On average, analysts expect that Gastar Exploration will report full-year sales of $19.84 million for the current year, with estimates ranging from $75.30 million to $83.12 million. For the next year, analysts forecast that the firm will report sales of $92.27 million per share, with estimates ranging from $74.40 million to $110.60 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Gastar Exploration.

Gastar Exploration (NYSE:GST) last issued its earnings results on Thursday, August 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.04) by $0.01. The firm had revenue of $22.60 million for the quarter, compared to the consensus estimate of $18.78 million. The business’s revenue for the quarter was up 85.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.12) earnings per share.

Several research firms recently weighed in on GST. Williams Capital set a $2.00 price target on shares of Gastar Exploration and gave the stock a “hold” rating in a report on Thursday, May 11th. Seaport Global Securities cut shares of Gastar Exploration from a “buy” rating to a “neutral” rating and cut their price target for the stock from $3.00 to $1.00 in a report on Wednesday, June 21st. Finally, Zacks Investment Research cut shares of Gastar Exploration from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Gastar Exploration presently has an average rating of “Hold” and an average target price of $1.50.

In related news, Director Ares Management Llc bought 514,227 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were purchased at an average cost of $1.23 per share, for a total transaction of $632,499.21. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GST. Deprince Race & Zollo Inc. boosted its position in Gastar Exploration by 9.2% in the second quarter. Deprince Race & Zollo Inc. now owns 1,011,084 shares of the company’s stock worth $936,000 after buying an additional 85,100 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Gastar Exploration by 439.9% in the second quarter. Bank of New York Mellon Corp now owns 599,986 shares of the company’s stock worth $555,000 after buying an additional 488,849 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Gastar Exploration by 124.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 540,300 shares of the company’s stock worth $501,000 after buying an additional 300,000 shares during the last quarter. Finally, Rhumbline Advisers bought a new position in Gastar Exploration during the second quarter worth $163,000.

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Shares of Gastar Exploration (NYSE:GST) traded down 4.7862% during midday trading on Friday, hitting $0.6525. 1,838,818 shares of the stock were exchanged. The stock’s market capitalization is $106.25 million. The firm’s 50 day moving average is $0.90 and its 200-day moving average is $1.32. Gastar Exploration has a 1-year low of $0.38 and a 1-year high of $2.19.

About Gastar Exploration

Gastar Exploration Inc, an independent energy company, engages in the exploration, development, and production of oil, condensate, natural gas, and natural gas liquids in the United States. Its principal activities include the identification, acquisition, exploration, and development of oil and natural gas properties on unconventional reserves, such as shale resource plays.

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