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.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Oaktree Capital Management LP boosted its stake in shares of Halcon Resources by 805.5% during the fourth quarter. Oaktree Capital Management LP now owns 11,500,000 shares of the energy company’s stock valued at $19,550,000 after purchasing an additional 10,230,000 shares during the period. LSP Investment Advisors LLC boosted its stake in shares of Halcon Resources by 132.3% during the fourth quarter. LSP Investment Advisors LLC now owns 8,039,931 shares of the energy company’s stock valued at $13,668,000 after purchasing an additional 4,578,499 shares during the period. Wilks Brothers LLC raised its holdings in shares of Halcon Resources by 31.4% during the third quarter. Wilks Brothers LLC now owns 15,156,067 shares of the energy company’s stock valued at $67,748,000 after acquiring an additional 3,625,800 shares in the last quarter. Walthausen & Co. LLC bought a new position in shares of Halcon Resources during the third quarter valued at approximately $9,868,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Halcon Resources by 29.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,159,837 shares of the energy company’s stock valued at $13,872,000 after acquiring an additional 1,870,829 shares in the last quarter.

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.

TRADEMARK VIOLATION WARNING: This piece of content was first reported by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark law. The correct version of this piece of content can be read at https://theolympiareport.com/2019/03/15/halcon-resources-hk-stock-price-down-6-5-following-weak-earnings.html.

Halcon Resources Company Profile (NYSE:HK)

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.

Featured Article: What are earnings reports?

Receive News & Ratings for Halcon Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Halcon Resources and related companies with MarketBeat.com's FREE daily email newsletter.