Halcon Resources (HK) Stock Price Down 6.5% Following Weak Earnings
Halcon Resources Corp (NYSE:HK) dropped 6.5% during mid-day trading on Wednesday following a dissappointing earnings announcement. The company traded as low as $1.28 and last traded at $1.29. Approximately 11,880,017 shares traded hands during mid-day trading, an increase of 177% from the average daily volume of 4,294,584 shares. The stock had previously closed at $1.38.
The energy company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.02). Halcon Resources had a negative return on equity of 0.67% and a net margin of 20.28%. The business had revenue of $60.34 million for the quarter, compared to analysts’ expectations of $64.94 million.
HK has been the subject of several recent analyst reports. Roth Capital cut their price objective on Halcon Resources from $13.00 to $3.50 and set a “buy” rating for the company in a report on Monday, January 28th. Capital One Financial lowered Halcon Resources from an “overweight” rating to an “underweight” rating in a report on Thursday, December 20th. Johnson Rice lowered Halcon Resources from a “buy” rating to a “hold” rating and set a $7.00 price objective for the company. in a report on Friday, February 22nd. Imperial Capital cut their price objective on Halcon Resources from $6.00 to $3.00 and set an “outperform” rating for the company in a report on Thursday, December 27th. Finally, Zacks Investment Research raised Halcon Resources from a “sell” rating to a “hold” rating in a report on Tuesday, January 22nd. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Halcon Resources presently has an average rating of “Hold” and a consensus price target of $5.34.
The company has a debt-to-equity ratio of 0.64, a current ratio of 0.33 and a quick ratio of 0.33. The firm has a market cap of $207.26 million, a P/E ratio of -26.00 and a beta of 3.71.
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Halcon Resources Company Profile (NYSE:HK)
HalcÃ³n 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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