Harvest Natural Resources Downgraded to Underperform at Zacks (HNR)

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Harvest Natural Resources (NYSE: HNR) was downgraded by Zacks from an “outperform” rating to an “underperform” rating in a report released on Friday, Analyst Ratings Network.com reports. They currently have a $2.90 target price on the stock. Zacks‘ price target would suggest a potential downside of 5.84% from the stock’s previous close.

Shares of Harvest Natural Resources (NYSE: HNR) traded up 1.99% during mid-day trading on Friday, hitting $3.08. Harvest Natural Resources has a one year low of $2.45 and a one year high of $10.83. The stock’s 50-day moving average is currently $3.20. The company’s market cap is $121.5 million.

Harvest Natural Resources (NYSE: HNR) last released its earnings data on Friday, May 3rd. The company reported ($0.12) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.24 by $0.36. The company had revenue of $195.40 million for the quarter. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, analysts predict that Harvest Natural Resources will post $-0.09 earnings per share for the current fiscal year.

Separately, analysts at Wunderlich cut their price target on shares of Harvest Natural Resources from $11.00 to $3.00 in a research note to investors on Monday, April 1st. They now have a “hold” rating on the stock.

Harvest Natural Resources, Inc. (NYSE: HNR) is an international petroleum exploration and production company.

To view Zacks’ full report, visit www.zacks.com

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