Halcon Resources Co. (NYSE:HK) – Stock analysts at Seaport Global Securities cut their Q2 2018 earnings per share (EPS) estimates for shares of Halcon Resources in a research report issued to clients and investors on Thursday. 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 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.
HK has been the subject of several other reports. ValuEngine cut Halcon Resources from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st. Zacks Investment Research cut Halcon Resources from a “hold” rating to a “sell” rating in a research report on Friday, March 2nd. Imperial Capital reaffirmed an “outperform” rating and issued a $9.00 price objective (down from $12.00) on shares of Halcon Resources in a research report on Friday, March 2nd. TheStreet raised Halcon Resources from a “d+” rating to a “c-” rating in a research report on Wednesday, November 22nd. Finally, Roth Capital set a $13.00 price objective on Halcon Resources and gave the company a “buy” rating in a research report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $10.29.
Halcon Resources stock opened at $5.06 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.
Halcon Resources (NYSE:HK) last issued its quarterly earnings results on Wednesday, February 28th. The energy company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.07). Halcon Resources had a net margin of 141.73% and a negative return on equity of 2.12%. The company had revenue of $25.28 million for the quarter, compared to analyst estimates of $27.11 million. During the same period last year, the company posted $0.66 earnings per share. The business’s revenue for the quarter was down 80.6% on a year-over-year basis.
In related news, Director Ares Management Llc acquired 1,113,466 shares of the stock in a transaction on Friday, February 9th. The shares were purchased at an average price of $6.90 per share, for a total transaction of $7,682,915.40. Following the purchase, the director now directly owns 53,114 shares in the company, valued at $366,486.60. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Franklin Resources Inc sold 230,209 shares of the firm’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $7.74, for a total value of $1,781,817.66. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 1,170,466 shares of company stock worth $7,982,275 and have sold 5,085,383 shares worth $41,942,812. 53.90% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Alambic Investment Management L.P. bought a new position in shares of Halcon Resources in the 4th quarter valued at $104,000. Amalgamated Bank bought a new position in shares of Halcon Resources in the 3rd quarter valued at $109,000. Voya Investment Management LLC bought a new position in shares of Halcon Resources in the 2nd quarter valued at $121,000. Virtu Financial LLC bought a new position in shares of Halcon Resources in the 4th quarter valued at $121,000. Finally, Gotham Asset Management LLC bought a new position in shares of Halcon Resources in the 4th quarter valued at $124,000. Institutional investors own 91.44% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Q2 2018 Earnings Forecast for Halcon Resources Co. (HK) Issued By Seaport Global Securities” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://ledgergazette.com/2018/03/21/q2-2018-earnings-forecast-for-halcon-resources-co-hk-issued-by-seaport-global-securities.html.
Halcon Resources Company Profile
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.
Receive News & Ratings for Halcon Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Halcon Resources and related companies with MarketBeat.com's FREE daily email newsletter.