Financial Results and Stock Price Updates - Analyst Notes on Rowan, Atwood Oceanics, Bill Barrett, Magnum Hunter Resources, and Approach Editor Note: For more information about this release, please scroll to bottom.
NEW YORK, March 11, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding Rowan Companies Inc. (NYSE: RDC), Atwood Oceanics, Inc. (NYSE: ATW), Bill Barrett Corp. (NYSE: BBG), Magnum Hunter Resources Corp. (NYSE: MHR), and Approach Resources, Inc. (NASDAQ: AREX). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.AnalystsReview.com/register
Rowan Companies Inc. Analyst Notes
On February 27, 2014, Rowan Companies Inc. (Rowan) reported its financial results for Q4 2013 and full-year 2013. For the Q4 2013, the Company generated net income from continuing operations of $49.7 million or $0.40 per share, versus $70.5 million or $0.57 per share in Q4 2012. Rowan's revenues were $393.4 million in Q4 2013, up 11.1% YoY due to increased average day rates and slightly higher utilization. Matt Ralls, Rowan's CEO, said, "As we enter 2014, we are very pleased with the makeup and positioning of our fleet. In January, we issued $800 million in long-term debt, which, along with an increased credit facility and cash flow from operations, is expected to provide the funds needed to complete our drillship construction program. We are also pleased to have announced in January the Board's decision to reinstate a modest quarterly dividend beginning in the second quarter of this year." The full analyst notes on Rowan Companies Inc. are available to download free of charge at:
Atwood Oceanics, Inc. Analyst Notes
On March 6, 2014, Atwood Oceanics, Inc.'s (Atwood Oceanics) stock increased 0.74%, ending the day at $49.09. Over the previous three trading sessions, shares of Atwood Oceanics increased 1.74%, compared to the Dow Jones Industrial Average Indexwhich increased 1.57% during the same period. The full analyst notes on Atwood Oceanics, Inc. are available to download free of charge at:
Bill Barrett Corp. Analyst Notes
On February 20, 2014, Bill Barrett Corp. (Bill Barrett) reported its financial results for Q4 2013 and full year 2013. The Company reported a net loss of $192.7 million or $4.06 loss per diluted common share in full-year 2013, as against a net income of $0.6 million or $0.01 per diluted common share in full-year 2012. The Company's net loss in Q4 2013 was $7.2 million versus net income of $14.0 million in Q4 2012. Bill Barrett's CEO, Scot Woodall said, "In 2013, we delivered on our key operating and financial objectives. We ended 2013 having achieved a commodity balanced portfolio, successfully delineated 70% of our net Northeast Wattenberg position, substantially increased proved oil reserves and reduced our long-term debt by $189 million. In combination, these achievements position our company for growth in oil production and cash flow in 2014 and forward." The full analyst notes on Bill Barrett Corp. are available to download free of charge at:
Magnum Hunter Resources Corp. Analyst Notes
On March 6, 2014, Magnum Hunter Resources Corp.'s (Magnum Hunter Resources) stock increased 0.36%, ending the day at $8.39. Over the previous five trading sessions, shares of Magnum Hunter Resources declined 3.45%, compared to the Dow Jones Industrial Average Indexwhich increased 0.92% during the same period. The full analyst notes on Magnum Hunter Resources Corp. are available to download free of charge at:
Approach Resources, Inc. Analyst Notes
On February 24, 2014, Approach Resources, Inc. (Approach) reported its financial results for Q4 2013 and fullyear 2013. For Q4 2013, revenues were up 65.9% YoY to $58.6 million. Net income was $64.3 million or $1.65 per diluted share in Q4 2013, against a net loss of $0.8 million or $0.02 per diluted share in Q4 2012. For full year 2013, revenues increased 40.7% YoY to $181.3 million. Net income was $72.3 million or $1.85 per diluted share in full-year 2013, as against $6.3 million or $0.18 per diluted share in full year 2012. J. Ross Craft , Approach's President and CEO, said, "Our fourth quarter and full-year 2013 results demonstrate significant progress in transitioning Approach's strategy from drilling vertical gas wells to leading the horizontal development of the oil-rich, multi-zone Wolfcamp shale. We also generated substantial margin improvement due to our oil production growth and lower cost structure. We now consider the Wolfcamp C bench in full development with our recent three-well pad completion, which also supports our field development outlook for the horizontal Wolfcamp play." The full analyst notes on Approach Resources, Inc. are available to download free of charge at:
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