Zacks: Analysts Anticipate Halcon Resources Corp (HK) to Post -$0.06 EPS

Wall Street brokerages forecast that Halcon Resources Corp (NYSE:HK) will announce earnings per share (EPS) of ($0.06) for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Halcon Resources’ earnings, with the lowest EPS estimate coming in at ($0.16) and the highest estimate coming in at ($0.01). Halcon Resources reported earnings of ($0.12) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 50%. The business is scheduled to report its next quarterly earnings results on Wednesday, February 27th.

On average, analysts expect that Halcon Resources will report full-year earnings of ($0.08) per share for the current fiscal year, with EPS estimates ranging from ($0.12) to ($0.04). For the next fiscal year, analysts anticipate that the business will post earnings of $0.01 per share, with EPS estimates ranging from ($0.16) to $0.42. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Halcon Resources.

Halcon Resources (NYSE:HK) last issued its quarterly earnings results on Wednesday, November 7th. The energy company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.01). The business had revenue of $61.60 million for the quarter, compared to analysts’ expectations of $58.33 million. Halcon Resources had a negative net margin of 101.20% and a negative return on equity of 1.05%. The business’s revenue was down 36.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.06) earnings per share.

HK has been the subject of a number of recent research reports. Zacks Investment Research downgraded Halcon Resources from a “buy” rating to a “hold” rating in a research report on Saturday, November 3rd. Imperial Capital set a $6.00 target price on Halcon Resources and gave the stock a “buy” rating in a research report on Friday, November 2nd. JPMorgan Chase & Co. downgraded Halcon Resources from a “neutral” rating to an “underweight” rating in a research report on Friday. Finally, ValuEngine downgraded Halcon Resources from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Halcon Resources has an average rating of “Hold” and an average price target of $7.54.

Shares of HK traded down $0.05 on Monday, reaching $2.56. 4,771,569 shares of the company’s stock traded hands, compared to its average volume of 4,827,466. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.64. Halcon Resources has a 52-week low of $2.44 and a 52-week high of $9.07.

A number of large investors have recently added to or reduced their stakes in the business. AMP Capital Investors Ltd purchased a new position in shares of Halcon Resources in the second quarter valued at $101,000. Laurion Capital Management LP purchased a new position in shares of Halcon Resources in the second quarter valued at $107,000. California Public Employees Retirement System purchased a new position in shares of Halcon Resources in the second quarter valued at $168,000. Nisa Investment Advisors LLC purchased a new position in shares of Halcon Resources in the second quarter valued at $274,000. Finally, Jane Street Group LLC grew its position in shares of Halcon Resources by 287.0% in the third quarter. Jane Street Group LLC now owns 64,151 shares of the energy company’s stock valued at $287,000 after purchasing an additional 47,574 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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