The value of Magnum Hunter Resources Corp.'s (NYSE:MHR) small cap stock rose during trading on Thursday, as the company's chief executive presented at a global energy conference and increased visibility for the firm.
According to a company release, the chief executive officer and chairman for the company, Gary C. Evans, presented at the 2012 Citi Global Energy Conference, held in Miami, Florida. The investor presentation went well enough to push the value of Magnum Hunter shares upward.
Seeking Alpha noted that the recent acquisitions by the company, especially in the Williston Basin of North Dakota, position it in a place for further growth, as the long-term potential for Magnum Hunter will help it deal with short-term market and oil price fluctuations.
Forbes reported that Magnum Hunter's stock is currently at a low point in a 52-week range and is positioned for growth, especially due to the recent acquisitions by the company.
The value of the company's stock rose $0.25 to $4.34 at 12:10 p.m. on June 7, an increase of 6.1 percent per share.