Halcon Resources Corporation (NYSE:HK) Expected to Announce Earnings of $0.06 Per Share
Equities analysts expect Halcon Resources Corporation (NYSE:HK) to post earnings of $0.06 per share for the current quarter, according to Zacks. Two analysts have provided estimates for Halcon Resources Corporation’s earnings, with the highest EPS estimate coming in at $0.10 and the lowest estimate coming in at $0.04. Halcon Resources Corporation posted earnings per share of $8.81 in the same quarter last year, which would suggest a negative year over year growth rate of 99.3%. The company is expected to report its next earnings report on Thursday, July 27th.
According to Zacks, analysts expect that Halcon Resources Corporation will report full-year earnings of $0.33 per share for the current year, with EPS estimates ranging from $0.16 to $0.42. For the next fiscal year, analysts anticipate that the business will report earnings of $0.42 per share, with EPS estimates ranging from $0.07 to $1.09. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Halcon Resources Corporation.
Halcon Resources Corporation (NYSE:HK) last posted its quarterly earnings results on Wednesday, May 3rd. The energy company reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.03. Halcon Resources Corporation had a negative net margin of 168.09% and a positive return on equity of 725.38%. The firm had revenue of $135.60 million during the quarter, compared to analyst estimates of $144.13 million.
HK has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Halcon Resources Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, March 15th. Scotiabank reiterated a “buy” rating and set a $11.00 price objective on shares of Halcon Resources Corporation in a research report on Monday, March 27th. Barclays PLC reiterated an “underweight” rating and set a $8.00 price objective (down from $9.00) on shares of Halcon Resources Corporation in a research report on Saturday, April 22nd. Roth Capital set a $14.00 price objective on shares of Halcon Resources Corporation and gave the stock a “buy” rating in a research report on Thursday, May 4th. Finally, Seaport Global Securities reiterated a “buy” rating and set a $10.00 price objective on shares of Halcon Resources Corporation in a research report on Tuesday, May 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $9.75.
In other Halcon Resources Corporation news, Director Sylvia K. Barnes bought 20,000 shares of Halcon Resources Corporation stock in a transaction dated Wednesday, June 14th. The stock was purchased at an average price of $5.34 per share, for a total transaction of $106,800.00. Following the completion of the purchase, the director now directly owns 23,757 shares of the company’s stock, valued at $126,862.38. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Franklin Resources Inc sold 31,341 shares of Halcon Resources Corporation stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $6.73, for a total transaction of $210,924.93. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new position in Halcon Resources Corporation during the fourth quarter worth approximately $555,000. Renaissance Technologies LLC raised its position in Halcon Resources Corporation by 508.6% in the fourth quarter. Renaissance Technologies LLC now owns 545,300 shares of the energy company’s stock worth $5,093,000 after buying an additional 455,700 shares during the period. GSA Capital Partners LLP purchased a new position in Halcon Resources Corporation during the fourth quarter worth approximately $381,000. UBS Asset Management Americas Inc. purchased a new position in Halcon Resources Corporation during the fourth quarter worth approximately $673,000. Finally, Highbridge Capital Management LLC purchased a new position in Halcon Resources Corporation during the fourth quarter worth approximately $240,000. Institutional investors own 78.61% of the company’s stock.
Halcon Resources Corporation (HK) traded down 5.04% on Wednesday, reaching $6.41. 6,941,720 shares of the company traded hands. The stock has a 50-day moving average price of $5.66 and a 200-day moving average price of $7.51. Halcon Resources Corporation has a 52-week low of $3.68 and a 52-week high of $16.23. The firm has a market cap of $585.07 million, a P/E ratio of 2.75 and a beta of 3.89.
About Halcon Resources Corporation
Halcon Resources Corporation is an independent energy company focused on the acquisition, production, exploration and development of onshore liquids-rich oil and natural gas assets in the United States. The Company’s estimated total proved oil and natural gas reserves are approximately 146.8 million barrels of oil equivalent (MMBoe), consisting of over 120.7 million barrels of oil (MMBbls), approximately 13.0 MMBbls of natural gas liquids and over 78.4 billion cubic feet (Bcf) of natural gas.
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