Gastar Exploration Inc (GST) Stake Lessened by Centerbridge Partners L.P.
Centerbridge Partners L.P. cut its stake in shares of Gastar Exploration Inc (NYSE:GST) by 5.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,577,000 shares of the company’s stock after selling 150,000 shares during the period. Gastar Exploration makes up about 0.2% of Centerbridge Partners L.P.’s holdings, making the stock its 14th biggest position. Centerbridge Partners L.P. owned 1.29% of Gastar Exploration worth $2,386,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. lifted its holdings in shares of Gastar Exploration by 124.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 540,300 shares of the company’s stock valued at $501,000 after purchasing an additional 300,000 shares during the last quarter. Rhumbline Advisers acquired a new position in shares of Gastar Exploration in the 2nd quarter valued at $163,000. Bank of New York Mellon Corp boosted its position in shares of Gastar Exploration by 439.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 599,986 shares of the company’s stock valued at $555,000 after purchasing an additional 488,849 shares during the period. Deprince Race & Zollo Inc. boosted its position in shares of Gastar Exploration by 9.2% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,011,084 shares of the company’s stock valued at $936,000 after purchasing an additional 85,100 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of Gastar Exploration by 2.4% in the 2nd quarter. Wells Fargo & Company MN now owns 254,924 shares of the company’s stock valued at $236,000 after purchasing an additional 6,000 shares during the period.
Gastar Exploration Inc (GST) traded down 2.3192% during trading on Monday, reaching $0.8592. 300,927 shares of the company were exchanged. Gastar Exploration Inc has a 52-week low of $0.38 and a 52-week high of $2.19. The firm’s market cap is $171.45 million. The firm has a 50-day moving average of $0.64 and a 200-day moving average of $1.05.
Gastar Exploration (NYSE:GST) last posted its earnings results on Thursday, August 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.01). The firm had revenue of $22.60 million during the quarter, compared to the consensus estimate of $18.78 million. The company’s revenue for the quarter was up 85.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.12) EPS. On average, equities analysts forecast that Gastar Exploration Inc will post ($0.17) EPS for the current year.
A number of equities analysts recently weighed in on the company. Williams Capital set a $1.00 price target on Gastar Exploration and gave the stock a “hold” rating in a research note on Friday, August 4th. Imperial Capital initiated coverage on shares of Gastar Exploration in a research note on Tuesday, September 19th. They set an “in-line” rating and a $1.00 price objective for the company. Seaport Global Securities lowered shares of Gastar Exploration from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $3.00 to $1.00 in a research note on Wednesday, June 21st. Finally, Zacks Investment Research lowered shares of Gastar Exploration from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $1.40.
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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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