Capital One Financial Weighs in on Halcon Resources Corporation’s FY2017 Earnings (HK)
Halcon Resources Corporation (NYSE:HK) – Analysts at Capital One Financial reduced their FY2017 earnings estimates for shares of Halcon Resources in a note issued to investors on Wednesday. Capital One Financial analyst B. Velie now expects that the energy company will earn ($0.03) per share for the year, down from their previous estimate of ($0.01). Capital One Financial also issued estimates for Halcon Resources’ Q4 2017 earnings at ($0.03) EPS.
Halcon Resources (NYSE:HK) last issued its earnings results on Thursday, November 9th. The energy company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.11). Halcon Resources had a net margin of 124.30% and a return on equity of 8.76%. The business had revenue of $96.95 million for the quarter, compared to analyst estimates of $97.34 million. The company’s quarterly revenue was up 319.6% on a year-over-year basis.
Several other brokerages also recently issued reports on HK. Johnson Rice raised shares of Halcon Resources from an “accumulate” rating to a “buy” rating in a report on Wednesday, October 18th. Zacks Investment Research downgraded shares of Halcon Resources from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. ValuEngine downgraded shares of Halcon Resources from a “buy” rating to a “hold” rating in a report on Friday, September 1st. TheStreet raised shares of Halcon Resources from a “d+” rating to a “c-” rating in a report on Wednesday, November 22nd. Finally, Bank of America initiated coverage on shares of Halcon Resources in a research note on Monday, October 16th. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $9.88.
Shares of Halcon Resources (NYSE:HK) opened at $7.49 on Friday. Halcon Resources has a 12-month low of $3.68 and a 12-month high of $10.30. The firm has a market cap of $1,042.69, a PE ratio of 10.56 and a beta of 4.03. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.35.
Several institutional investors have recently added to or reduced their stakes in HK. Anchor Bolt Capital LP acquired a new position in shares of Halcon Resources in the third quarter valued at approximately $27,585,000. Boston Partners boosted its holdings in shares of Halcon Resources by 1,388.1% in the second quarter. Boston Partners now owns 3,863,260 shares of the energy company’s stock valued at $17,539,000 after buying an additional 3,603,645 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Halcon Resources by 113.7% in the second quarter. Vanguard Group Inc. now owns 3,296,119 shares of the energy company’s stock valued at $14,964,000 after buying an additional 1,753,923 shares during the period. Senvest Management LLC acquired a new position in shares of Halcon Resources in the third quarter valued at approximately $10,098,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Halcon Resources in the third quarter valued at approximately $8,515,000. Institutional investors own 94.33% of the company’s stock.
In related news, major shareholder Franklin Resources Inc sold 350,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $6.03, for a total transaction of $2,110,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders sold 11,116,337 shares of company stock valued at $72,995,519. Insiders own 53.90% of the company’s stock.
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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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