Magnum Hunter Investor Dumps 6.3 Million Shares of MHR Stock

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It's not exactly penny stock level--yet--but Magnum Hunter Resources' (MHR) stock price has been heading in that direction. A year ago MHR's stock was trading at $8.31 per share. Yesterday it closed at $1.86 per share, down 78% in one year (see the chart below). MDN is not a "stock picking" site, although a number of investors from some of the world's largest banks and investment firms do subscribe. We don't often talk about the price of a company's stock or who's buying and selling a company's stock--unless major investors (or management) is doing the buying or selling. A company's stock price is a relative indicator of the company's financial health. It's no secret that the oil and gas industry's "upstream" or drilling sector has been hard hit over the past 12 months and stock prices for companies in the sector have dropped. MHR is one of those stocks hard hit, not least of which because they owe a heck of lot more money than they're making (see 19 Oil/Gas Companies on “Death List” – 8 are in Marcellus/Utica). So it caught our eye when we saw that one of MHR's major stockholders, Relational Investors, dumped 6.3 million shares of MHR earlier this month--at a price of $1.29-$1.31 per share...

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