Insights about U.S. Stocks from mix sectors that landed in the Green-Zone in the course of Tuesday’s trade, are depicted underneath:
Cytori Therapeutics Inc (NASDAQ:CYTX)’s shares picked up 7.14%, and closed at $1.20, during the last trading session, soon after the news release that Cytori Therapeutics, Inc. declared that Dr. Marc H. Hedrick, President and CEO of Cytori Therapeutics, will present at the 35th Annual Cowen and Corporation Health Care Conference in Boston, March 2-5, 2015. Cytori’s presentation is planned to start March 4th at 8:40 AM Eastern Time, in Salon H, on the 4th floor of the Boston Marriott Copley Place. A breakout session will follow at 9:20 AM, in Salon I, on the 4th floor.
Cytori Therapeutics, Inc., a cell therapy corporation, develops cell therapies based on autologous adipose-derived regenerative cells (ADRCs) to treat cardiovascular disease and other medical conditions. It primarily provides the Celution System, a tissue processing system that automates the process of digesting fat tissue, releasing the ADRCs. The corporation also offers the StemSource Cell Bank, a suite of products to allow hospitals or tissue banks to cryopreserve adipose-derived stem and regenerative cells; and StemSource 900/MB, a research laboratory equipment.
Eclipse Resources Corp(NYSE:ECR) raised 6.99%, and closed at $7.35, soon after Eclipse Resources Corporation, formerly on February 17, declared proved reserves at December 31, 2014 were 355.8 Bcfe, a 353% raise contrast to proved reserves at December 31, 2013, in each case assuming ethane rejection. Year-end 2014 proved reserves were 72% operated by the Corporation, 39% proved developed producing, and 72% natural gas. SEC prices for reserves were calculated as of December 31, 2014 on a weighted average Appalachian index basis and were $94.99 per Bbl for oil and $4.35 per MMBtu for natural gas. Using SEC prices, which are not indicative of current forward prices, the pre-tax present value discounted at 10% of the December 31, 2014 proved reserves was $509.4 million, a 228% raise over year-end 2013. Eclipse Resources’ proved reserves at December 31, 2013 and 2014 were prepared by Netherland, Sewell & Associates, Inc., the Corporation’s independent petroleum engineers.
Fourth Quarter 2014 and Full-Year 2014 Earnings Declaration and Conference Call:
Eclipse Resources plans to declare fourth quarter 2014 and full-year 2014 earnings on Wednesday, March 4, 2015, following the close of trading on the New York Stock Exchange. The Corporation plans to host a conference call to talk about earnings results on Thursday, March 5, 2015, at 10:00 a.m. ET. To take part in the call, please dial 877-709-8150, or 201-689-8354 for international callers, and reference Eclipse Resources Fourth Quarter 2014 Earnings Call. A replay of the call will be accessible through April 5, 2015.
Eclipse Resources is an independent exploration and production corporation engaged in the attainment and development of oil and natural gas properties in the Appalachian Basin, counting the Utica and Marcellus Shales.
Magnum Hunter Resources Corp (NYSE:MHR), enhanced 6.32%, and closed at $2.69, soon after the news release that Magnum Hunter Resources Corp. declared that it has declared a monthly cash dividend on the Corporation’s 10.25% Series C Cumulative Perpetual Preferred Stock, a monthly cash dividend on the Corporation’s 8.0% Series D Cumulative Preferred Stock and a monthly cash dividend on the Corporation’s 8.0% Series E Cumulative Convertible Preferred Stock. The outstanding shares of Series E Preferred Stock are represented by depositary shares, each representing a 1/1,000th interest of a share of Series E Preferred Stock.
The dividend on the Series C Preferred Stock, which is for the month of March 2015, is payable on March 31, 2015, to holders of record at the close of business on March 13, 2015. The payment will be an annualized 10.25% per share, which is equivalent to about $0.2135 per share, based on the $25.00 per share liquidation preference of the Series C Preferred Stock. The Series C Preferred Stock is presently listed on the NYSE MKT and trades under the ticker symbol “MHR.PRC”.
The dividend on the Series D Preferred Stock, which is for the month of March 2015, is payable on March 31, 2015, to holders of record at the close of business on March 13, 2015. The payment will be an annualized 8.0% per share, which is equivalent to about $0.3333 per share, based on the $50.00 per share liquidation preference of the Series D Preferred Stock. The Series D Preferred Stock is presently listed on the NYSE MKT and trades under the ticker symbol “MHR.PRD”.
The dividend on the Series E Preferred Stock, which is for the month of March 2015, is payable on March 31, 2015, to holders of record at the close of business on March 13, 2015. The payment will be an annualized 8.0% per share of Series E Preferred Stock, which is equivalent to about $166.6667 per share, based on the $25,000.00 per share liquidation preference of the Series E Preferred Stock (equivalent to about $0.1667 per Depositary Share, based on the $25.00 per Depositary Share liquidation preference). The Depositary Shares are presently listed on the NYSE MKT and trade under the ticker symbol “MHR.PRE”. The payment of dividends to holders of the Depositary Shares will be made in accordance with the terms of the Deposit Contract which governs the Depositary Shares.
Magnum Hunter Resources Corporation, an independent oil and gas corporation, explores for, exploits, attains, develops, and produces crude oil, natural gas, and natural gas liquid resources in the United States. The corporation operates through the U.S. Upstream, Midstream, and Oilfield Services segments. It operates in two of the unconventional shale resource plays in the United States, counting the Marcellus Shale and the Utica Shale plays located in the Appalachian Basin within the states of West Virginia and Ohio; and owns interests in non-operated oil and gas properties in the Williston Basin/Bakken Shale located in Divide County, North Dakota.
Swift Energy Company (NYSE:SFY), enhanced 6.09%, and closed at $3.31, soon after the news release that Swift Energy Co. formerly on February 26, stated its 2014 year-end and fourth quarter financial and operating results.
Fourth Quarter and Full-Year 2014 Results:
Swift Energy’s full year 2014 production was 12.39 MMBoe, a raise of 5% contrast to 2013 production of 11.75 MMBoe. Production for the fourth quarter 2014 of 3.00 MMBoe was roughly flat with third quarter 2014 levels and reduced 3% contrast to fourth quarter 2013 production of 3.09 MMBoe.
Full year production in the Eagle Ford, where about 85% of 2014 capital spending was directed, was 8.39 MMBoe, an raise of 32% from 2013 production of 6.36 MMBoe.
Terry Swift noted, “Not including the influence from our sale in Fasken to Saka Energi, Eagle Ford production would have raised 46% year-to-year. Even after this sale of production volumes, we achieved a corporate wide year end net exit rate of about 38,000 Boe/d.”
Swift Energy stated an adjusted net loss for the fourth quarter of 2014 of $10.9 million, or $0.25 per diluted share, which excludes the non-cash ceiling test write-down of its oil and gas properties of $445.4 million. This compares to adjusted net revenue of $4.7 million, or $0.11 per diluted share earned in the same quarter in 2013.
The GAAP net loss for the fourth quarter 2014 was $298.2 million, or $6.80 per diluted share. This compares to GAAP net loss of $25.4 million, or $0.58 per diluted share earned in the same quarter in 2013, which also had a non-cash ceiling write-down.
The GAAP net loss for the full year 2014 is $283.4 million, or $6.47 per diluted share. This compares to a GAAP net loss of $2.4 million, or $0.06 per diluted share for the full year 2013.
Cash flow before working capital changes for the full year 2014 of $283.3 million reduced 9% contrast to $310.8 million for the full year 2013. Fourth quarter 2014 cash flow before working capital changes of $44.6 million reduced 41% contrast to $76.0 million of adjusted cash flow for the fourth quarter of 2013.
Total proceeds for the fourth quarter of 2014 of $110.5 million reduced 23% from the $143.1 million of proceeds generated in the fourth quarter of 2013. This decrease is primarily attributable to lower oil and NGL prices, coupled with slightly lower overall production volumes.
Depreciation, depletion and amortization expense (“DD&A”) of $22.17 per barrel of oil equivalent (“Boe”) in the fourth quarter of 2014 raised 5% from $21.11 per Boe from the comparable period in 2013, primarily due to lower production.
The non-cash oil and gas property ceiling test write-down of $445.4 million was the result of the decline in the Corporation’s year-end 2014 SEC reserves value.
Lease operating expenses, not including transportation and processing expense and before severance and ad valorem taxes, were $7.53 per Boe in the fourth quarter 2014, generally in-line with the preceding year amounts.
Severance and ad valorem taxes reduced to $2.74 per Boe in the fourth quarter 2014 from $3.40 per Boe in the fourth quarter of 2013, primarily due to higher production in South Texas, which carries a lower severance tax rate than in Louisiana.
General and administrative expenses of $2.02 per Boe during the fourth quarter of 2014 were down from $3.35 per Boe in the same period in 2013, primarily due to lower compensation and accrued benefit costs.
Interest expense raised to $5.97 per Boe in the fourth quarter of 2014 contrast to $5.85 per Boe for the same period in 2013.
Swift Energy Corporation is engaged in acquiring, exploring, developing, and operating oil and natural gas properties. It focuses on oil and natural gas reserves in Texas, in addition to onshore and in the inland waters of Louisiana. As of December 31, 2013, the corporation had estimated proved reserves of 219.2 million barrels of oil equivalent. Swift Energy Corporation was founded in 1979 and is headquartered in Houston, Texas.
