Halcon Resources Co. (NYSE:HK) Expected to Post Earnings of -$0.01 Per Share

Equities analysts expect Halcon Resources Co. (NYSE:HK) to post earnings per share (EPS) of ($0.01) for the current quarter, according to Zacks. Three analysts have provided estimates for Halcon Resources’ earnings, with estimates ranging from ($0.03) to $0.03. Halcon Resources reported earnings per share of $0.06 in the same quarter last year, which suggests a negative year over year growth rate of 116.7%. The company is scheduled to issue its next earnings report on Wednesday, May 2nd.

According to Zacks, analysts expect that Halcon Resources will report full year earnings of $0.11 per share for the current year, with EPS estimates ranging from $0.02 to $0.22. For the next fiscal year, analysts anticipate that the firm will post earnings of $0.49 per share, with EPS estimates ranging from $0.07 to $0.95. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Halcon Resources.

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Halcon Resources (NYSE:HK) last announced its quarterly earnings data on Wednesday, February 28th. The energy company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.07). Halcon Resources had a negative return on equity of 2.12% and a net margin of 141.73%. The firm had revenue of $25.28 million during the quarter, compared to analysts’ expectations of $27.11 million. During the same quarter in the previous year, the firm earned $0.66 earnings per share. Halcon Resources’s revenue was down 80.6% on a year-over-year basis.

A number of brokerages recently weighed in on HK. TheStreet lowered shares of Halcon Resources from a “c-” rating to a “d+” rating in a report on Tuesday. Zacks Investment Research upgraded shares of Halcon Resources from a “sell” rating to a “hold” rating in a report on Wednesday, March 14th. Imperial Capital restated an “outperform” rating and issued a $9.00 price objective (down from $12.00) on shares of Halcon Resources in a report on Friday, March 2nd. ValuEngine lowered shares of Halcon Resources from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. Finally, Stephens reiterated a “buy” rating and set a $13.00 target price on shares of Halcon Resources in a research note on Monday, February 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $10.29.

In other news, major shareholder Franklin Resources Inc sold 230,209 shares of the business’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $7.74, for a total transaction of $1,781,817.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Darryl Schall acquired 7,000 shares of the business’s stock in a transaction dated Monday, March 5th. The shares were acquired at an average cost of $5.48 per share, with a total value of $38,360.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 1,170,466 shares of company stock valued at $7,982,275 and have sold 5,053,361 shares valued at $41,695,602. 53.90% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Halcon Resources by 2.8% during the 4th quarter. BlackRock Inc. now owns 10,515,424 shares of the energy company’s stock valued at $79,603,000 after acquiring an additional 283,008 shares during the period. Anchor Bolt Capital LP bought a new stake in shares of Halcon Resources during the 3rd quarter valued at $27,585,000. Renaissance Technologies LLC grew its position in shares of Halcon Resources by 244.2% during the 4th quarter. Renaissance Technologies LLC now owns 2,300,395 shares of the energy company’s stock valued at $17,414,000 after acquiring an additional 1,631,995 shares during the period. Nokomis Capital L.L.C. grew its position in shares of Halcon Resources by 301.0% during the 4th quarter. Nokomis Capital L.L.C. now owns 1,764,486 shares of the energy company’s stock valued at $13,357,000 after acquiring an additional 1,324,486 shares during the period. Finally, William Blair Investment Management LLC bought a new stake in shares of Halcon Resources during the 4th quarter valued at $12,543,000. 91.44% of the stock is owned by hedge funds and other institutional investors.

HK stock opened at $4.82 on Friday. Halcon Resources has a 1-year low of $3.68 and a 1-year high of $9.07. The firm has a market cap of $796.10, a P/E ratio of 1.31 and a beta of 3.97. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.14 and a quick ratio of 3.14.

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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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Earnings History and Estimates for Halcon Resources (NYSE:HK)

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