Halcon Resources Corp (NYSE:HK) – Equities research analysts at Seaport Global Securities reduced their Q3 2019 earnings per share (EPS) estimates for Halcon Resources in a report issued on Thursday, October 18th. Seaport Global Securities analyst M. Kelly now forecasts that the energy company will post earnings per share of $0.01 for the quarter, down from their previous forecast of $0.02. Seaport Global Securities also issued estimates for Halcon Resources’ Q4 2019 earnings at $0.04 EPS.
Halcon Resources (NYSE:HK) last announced its quarterly earnings results on Wednesday, August 1st. The energy company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.18. Halcon Resources had a negative return on equity of 1.03% and a net margin of 135.43%. The firm had revenue of $55.40 million during the quarter, compared to the consensus estimate of $56.07 million. Halcon Resources’s quarterly revenue was down 53.9% on a year-over-year basis.
Other analysts also recently issued reports about the company. Imperial Capital lowered their price target on Halcon Resources from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Friday, August 3rd. Zacks Investment Research upgraded Halcon Resources from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. ValuEngine upgraded Halcon Resources from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Bank of America lowered their price target on Halcon Resources from $9.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, August 2nd. Finally, JPMorgan Chase & Co. began coverage on Halcon Resources in a report on Wednesday, July 25th. They issued a “neutral” rating and a $6.00 price target for the company. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Halcon Resources presently has a consensus rating of “Buy” and a consensus price target of $7.50.
Shares of NYSE HK opened at $3.97 on Friday. Halcon Resources has a 12-month low of $3.56 and a 12-month high of $9.07. The firm has a market capitalization of $644.23 million, a P/E ratio of -26.47 and a beta of 4.29. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.87 and a quick ratio of 0.87.
In other news, Director Ares Management Llc sold 986,276 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $3.82, for a total transaction of $3,767,574.32. Following the completion of the sale, the director now directly owns 86,857 shares in the company, valued at $331,793.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.70% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN grew its stake in shares of Halcon Resources by 2.4% during the first quarter. Wells Fargo & Company MN now owns 552,211 shares of the energy company’s stock valued at $2,690,000 after acquiring an additional 13,053 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of Halcon Resources by 25.2% during the first quarter. Cubist Systematic Strategies LLC now owns 73,390 shares of the energy company’s stock valued at $357,000 after acquiring an additional 14,784 shares in the last quarter. AMP Capital Investors Ltd acquired a new stake in shares of Halcon Resources during the second quarter valued at about $101,000. Laurion Capital Management LP acquired a new stake in shares of Halcon Resources during the second quarter valued at about $107,000. Finally, Guggenheim Capital LLC grew its stake in shares of Halcon Resources by 111.3% during the first quarter. Guggenheim Capital LLC now owns 54,095 shares of the energy company’s stock valued at $264,000 after acquiring an additional 28,497 shares in the last quarter.
About Halcon Resources
Halcón Resources Corporation, an independent energy company, engages in the acquisition, production, exploration, and development of onshore oil and natural gas assets in the United States. As of February 28, 2018, the company held interests in 21,679 net acres in the Monument Draw area of the Delaware Basin, located in Pecos and Reeves Counties, Texas; and 27,035 net acres in the Hackberry Draw area of the Delaware Basin, located in Pecos and Reeves Counties, Texas.
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