Halcon Resources Corporation (HK) to Post Q4 2017 Earnings of ($0.01) Per Share, Seaport Global Securities Forecasts
Halcon Resources Corporation (NYSE:HK) – Investment analysts at Seaport Global Securities lowered their Q4 2017 earnings per share estimates for Halcon Resources in a note issued to investors on Tuesday. Seaport Global Securities analyst M. Kelly now anticipates that the energy company will post earnings per share of ($0.01) for the quarter, down from their prior forecast of $0.02. Seaport Global Securities currently has a “Buy” rating and a $8.00 target price on the stock. Seaport Global Securities also issued estimates for Halcon Resources’ Q1 2018 earnings at $0.02 EPS, Q3 2018 earnings at $0.06 EPS, Q4 2018 earnings at $0.08 EPS and FY2018 earnings at $0.20 EPS.
Several other analysts also recently issued reports on the company. Zacks Investment Research downgraded Halcon Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. BidaskClub upgraded Halcon Resources from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Bank of America boosted their price target on Halcon Resources from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, November 10th. TheStreet upgraded Halcon Resources from a “d+” rating to a “c-” rating in a research report on Wednesday, November 22nd. Finally, Roth Capital set a $9.00 target price on Halcon Resources and gave the company a “buy” rating in a research report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $9.57.
Halcon Resources (NYSE:HK) last released its quarterly earnings results on Thursday, November 9th. The energy company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.11). The firm had revenue of $96.95 million during the quarter, compared to the consensus estimate of $97.34 million. Halcon Resources had a net margin of 124.30% and a return on equity of 8.76%. The business’s revenue was up 319.6% on a year-over-year basis.
Institutional investors have recently bought and sold shares of the company. Amalgamated Bank acquired a new position in Halcon Resources in the 3rd quarter worth about $109,000. SG Americas Securities LLC increased its holdings in Halcon Resources by 45.6% in the 3rd quarter. SG Americas Securities LLC now owns 25,999 shares of the energy company’s stock worth $177,000 after purchasing an additional 8,137 shares in the last quarter. Voya Investment Management LLC acquired a new position in Halcon Resources in the 2nd quarter worth about $121,000. Cubist Systematic Strategies LLC increased its holdings in Halcon Resources by 107.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 28,744 shares of the energy company’s stock worth $130,000 after purchasing an additional 14,864 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Halcon Resources in the 3rd quarter worth about $199,000. 94.28% of the stock is owned by institutional investors.
In other news, major shareholder Franklin Resources Inc sold 334,000 shares of the business’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $7.71, for a total transaction of $2,575,140.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 8,105,017 shares of company stock valued at $54,241,652 in the last three months. 53.90% of the stock is owned by insiders.
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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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