Boston, MA 05/21/2014 (wallstreetpr) – Exploration and production company Athlon Energy Inc (NYSE:ATHL) seems off to a great start in 2014. The company has not only reported encouraging results for its 1Q2014, but also has a good amount of money to make acquisitions as it seeks to boost its production and capacity. The company recently announced 1Q profit of $18.8 million, translating to $0.23 per share. Revenue in the quarter was $106 million.
Althlon continues to acquire properties in promising locations. The company, last month, announced a deal to acquire net acreage of about 23,500 in Midland Basin. The company will spend $873 million in the Midland Basin acquisition from five different sellers. The properties in Midland that Althlon is zeroing in on have a production level of 4,800 barrels of oil per day and proven net reserve of 31 million barrels. The company on its part already has a daily average production level of 17,000 barrels and most of its properties are in Permian Basin.
Acquisitions will not pose a big headache for Athlon Energy Inc (NYSE:ATHL) as the company has the financial ability to fund them. It recently raised $570 million from an equity offering and raised another $650 million through senior unsecured notes.
The provider of enterprise software MicroStrategy Incorporated (NASDAQ:MSTR) is gradually entering the good books of analysts despite falling short of expectations in the most recent quarter. Analysts at Deutsche Bank raised their price target on the stock from $150 per share to $170. The upgraded price suggests a potential upside of about 26 percent from the prevailing price. The analysts consider the stock a “buy.”
MicroStrategy Incorporated (NASDAQ:MSTR) reported its 1Q2014 financial results that missed Wall Street expectations. The company earned a loss of 57 cents per share, missing the consensus estimate of positive earnings of 10 cents per share. Revenue in the quarter came in at $137.90 million, below the consensus estimate of $142.07 million.
The self-administered real estate investment trust Glimcher Realty Trust (NYSE:GRT) intends to pay a dividend of $0.10 per share on July 15. The dividend award will capture shareholders of record as of June 30.
