Halcon Resources Co. (NYSE:HK) – Analysts at Seaport Global Securities lowered their Q2 2018 EPS estimates for shares of Halcon Resources in a research note issued on Thursday. Seaport Global Securities analyst M. Kelly now expects that the energy company will earn $0.01 per share for the quarter, down from their prior estimate of $0.02. Seaport Global Securities also issued estimates for Halcon Resources’ FY2018 earnings at $0.09 EPS, Q1 2019 earnings at $0.09 EPS, Q2 2019 earnings at $0.11 EPS, Q3 2019 earnings at $0.13 EPS, Q4 2019 earnings at $0.16 EPS and FY2019 earnings at $0.49 EPS.
Halcon Resources (NYSE:HK) last posted its quarterly earnings results on Wednesday, February 28th. The energy company reported ($0.12) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.07). The company had revenue of $25.28 million during the quarter, compared to analyst estimates of $27.11 million. Halcon Resources had a net margin of 141.73% and a negative return on equity of 2.12%. The firm’s revenue for the quarter was down 80.6% compared to the same quarter last year. During the same period last year, the firm earned $0.66 EPS.
HK has been the subject of a number of other research reports. ValuEngine downgraded Halcon Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. Zacks Investment Research downgraded Halcon Resources from a “hold” rating to a “sell” rating in a research note on Friday, March 2nd. Imperial Capital reissued an “outperform” rating and set a $9.00 target price (down previously from $12.00) on shares of Halcon Resources in a research note on Friday, March 2nd. TheStreet raised Halcon Resources from a “d+” rating to a “c-” rating in a research note on Wednesday, November 22nd. Finally, Roth Capital set a $13.00 target price on Halcon Resources and gave the stock a “buy” rating in a research note on Tuesday, January 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $10.29.
Halcon Resources stock opened at $5.05 on Monday. Halcon Resources has a 52 week low of $3.68 and a 52 week high of $9.07. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.38.
In other news, CEO Floyd C. Wilson purchased 50,000 shares of Halcon Resources stock in a transaction dated Friday, March 9th. The shares were bought at an average cost of $5.22 per share, for a total transaction of $261,000.00. Following the completion of the acquisition, the chief executive officer now owns 1,669,486 shares in the company, valued at approximately $8,714,716.92. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Darryl Schall purchased 7,000 shares of Halcon Resources stock in a transaction dated Monday, March 5th. The shares were purchased at an average price of $5.48 per share, for a total transaction of $38,360.00. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 1,170,466 shares of company stock valued at $7,982,275 and have sold 5,085,383 shares valued at $41,942,812. 53.90% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Alambic Investment Management L.P. bought a new stake in shares of Halcon Resources during the fourth quarter worth about $104,000. Virtu Financial LLC bought a new stake in shares of Halcon Resources during the fourth quarter worth about $121,000. Amalgamated Bank bought a new stake in shares of Halcon Resources during the third quarter worth about $109,000. Gotham Asset Management LLC bought a new stake in shares of Halcon Resources during the fourth quarter worth about $124,000. Finally, Paloma Partners Management Co bought a new stake in shares of Halcon Resources during the fourth quarter worth about $131,000. Institutional investors own 91.44% of the company’s stock.
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About Halcon Resources
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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