Petrohawk Energy (HK) has been initiated today with coverage from the research analysts at Dawson James. Dawson begins this new coverage of Petrohawk with an initial price target set at $36 dollars and rates performance of HK as “buy.” Dawson noted that Petrohawk continues to ramp production of natural gas & oil. They also foresee natural gas to be increasingly important in the future as ‘green’ initiatives proceed to gain traction within the United States.
HK gapped down during the beginning of trading but managed to climb back within Wednesday’s close by the matter of a handful of cents. Shares had been gaining steadily throughout 2011 until HK began dipping through a series of lower lows last week. Still, even the standing high of $27.45 set on June 1st, 2011, is far from Dawson’s price target of $36 which would effectively double share valuation of HK in a single year.
Petrohawk is slated to release their next earnings report on August 2nd, 2011, and is estimated to post EPS of 21 cents. Their last earnings report was released on May 5th, 2011, and announced EPS of 15 cents with revenue totaling $491.7 million which was up 12.3 % year to year. HK is currently trading between its 50 & 200-day moving averages and 2011 is an up year for the company.
Petrohawk Energy Corporation is an independent oil and natural gas company engaged in the exploration, development and production of predominately natural gas properties located in the United States. The company has market capitalization of $7,257,471,430 and 303,787,000 shares outstanding. HK has a 52-week high of $27.45 with the low being $14.32 dollars.
