Halcon Resources Corp (HK) Expected to Post Earnings of -$0.04 Per Share

Brokerages expect that Halcon Resources Corp (NYSE:HK) will post ($0.04) earnings per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Halcon Resources’ earnings, with the highest EPS estimate coming in at $0.02 and the lowest estimate coming in at ($0.09). Halcon Resources posted earnings of $0.15 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 126.7%. The business is scheduled to issue its next quarterly earnings results on Wednesday, August 7th.

According to Zacks, analysts expect that Halcon Resources will report full year earnings of ($0.12) per share for the current financial year, with EPS estimates ranging from ($0.25) to $0.01. For the next fiscal year, analysts anticipate that the firm will report earnings of ($0.04) per share, with EPS estimates ranging from ($0.32) to $0.28. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover Halcon Resources.

Halcon Resources (NYSE:HK) last announced its earnings results on Thursday, May 9th. The energy company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.08. Halcon Resources had a negative net margin of 125.62% and a negative return on equity of 0.03%. The company had revenue of $51.92 million during the quarter, compared to analysts’ expectations of $59.49 million.

Several research analysts have commented on the stock. Johnson Rice cut shares of Halcon Resources from a “buy” rating to a “hold” rating and set a $7.00 target price for the company. in a report on Friday, February 22nd. ValuEngine upgraded shares of Halcon Resources from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Finally, Roth Capital cut shares of Halcon Resources from a “buy” rating to a “neutral” rating and set a $3.50 price target for the company. in a report on Friday, May 10th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $4.68.

Large investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its position in shares of Halcon Resources by 116.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 22,634 shares of the energy company’s stock valued at $38,000 after purchasing an additional 12,168 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Halcon Resources by 163,623.5% in the first quarter. BNP Paribas Arbitrage SA now owns 27,833 shares of the energy company’s stock valued at $38,000 after purchasing an additional 27,816 shares during the period. BlueCrest Capital Management Ltd bought a new position in shares of Halcon Resources in the first quarter valued at approximately $52,000. Virtu Financial LLC raised its position in shares of Halcon Resources by 102.4% in the fourth quarter. Virtu Financial LLC now owns 42,241 shares of the energy company’s stock valued at $72,000 after purchasing an additional 21,375 shares during the period. Finally, United Services Automobile Association raised its position in shares of Halcon Resources by 38.3% in the fourth quarter. United Services Automobile Association now owns 45,407 shares of the energy company’s stock valued at $77,000 after purchasing an additional 12,580 shares during the period.

Shares of HK opened at $0.23 on Tuesday. Halcon Resources has a one year low of $0.19 and a one year high of $4.90. The stock has a market capitalization of $39.67 million, a price-to-earnings ratio of -4.68 and a beta of 4.17. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.72.

Halcon Resources Company Profile

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 December 31, 2018, the company held interests in 56,900 net acres in the Delaware Basin, located in Pecos, Reeves, Ward, and Winkler Counties, Texas.

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

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