| UPDATE: Wunderlich Securities Reiterates On Harvest Natural Resources As Stock Still Has Value | |
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In a report published Monday, Wunderlich Securities analyst Jason A. Wangler reiterated a Buy rating on Harvest Natural Resources, Inc. (NYSE: HNR), but lowered the price target from $6.00 to $2.00.
In the report, Wunderlich Securities noted, “Harvest Natural Resources' (HNR) recent announcement that the sale of its Venezuelan assets was terminated sent the stock down hard. Surprisingly, or maybe not given the deal fatigue, the company provided color as to why Venezuela did not approve the deal. These reasons range from a request to ample financing on the projects (which we think were doable) to what amounts essentially to bribes (which we think were not doable); now Harvest still has a 20.4% interest in Petrodelta while the buyer (Pluspetrol) still holds a 11.6% due to the first tranche sale executed about a year ago. The inability to sell the Venezuelan interests, which are out of Harvest's control, causes us to write the valuable assets off at this time but we still see value in the stock at these depressed levels.”
Harvest Natural Resources closed on Friday at $1.81.
Latest Ratings for HNR
Date | Firm | Action | From | To |
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Jan 2015 | Wunderlich | Maintains | | Buy | Jun 2014 | Vertical Research | Downgrades | | Sell | Nov 2013 | Wunderlich | Maintains | | Buy |
View More Analyst Ratings for HNR
View the Latest Analyst Ratings
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Harvest Natural Resources Inc.
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CODE : HNR |
ISIN : US41754V1035 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Harvest Natural is a and oil development stage company based in United states of america. Harvest Natural holds various exploration projects in Gabon. Its main exploration property is RUCHE MARIN A in Gabon. Harvest Natural is listed in Germany and in United States of America. Its market capitalisation is US$ 73.1 millions as of today (€ 66.6 millions). Its stock quote reached its highest recent level on May 11, 2007 at US$ 9.99, and its lowest recent point on January 15, 2016 at US$ 0.30. Harvest Natural has 11 040 000 shares outstanding. |