Halcon Resources Corp Stock Price Down 5.1% on Disappointing Earnings (HK)
Halcon Resources Corp (NYSE:HK) traded down 5.1% on Wednesday following a weaker than expected earnings announcement, Analyst Ratings.Net reports. The company traded as low as $3.82 and last traded at $3.90, with a volume of 8,522,804 shares changing hands. The stock had previously closed at $4.11.
The company reported $0.01 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.04 by $0.03. The company had revenue of $289.30 million for the quarter, compared to the consensus estimate of $290.09 million. During the same quarter last year, the company posted $0.02 earnings per share. Halcon Resources Corp’s revenue was up 131.8% compared to the same quarter last year.
HK has been the subject of a number of recent research reports. Analysts at RBC Capital downgraded shares of Halcon Resources Corp from an “outperform” rating to a “sector perform” rating in a research note on Wednesday. They now have a $4.00 price target on the stock, down previously from $6.00. Separately, analysts at Global Hunter Securities upgraded shares of Halcon Resources Corp from a “reduce” rating to a “neutral” rating in a research note on Tuesday, February 4th. Finally, analysts at Barclays initiated coverage on shares of Halcon Resources Corp in a research note on Monday, February 3rd. They set an “equal weight” rating and a $4.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $6.10.
The stock’s 50-day moving average is $3.56 and its 200-day moving average is $4.32. The company’s market cap is $1.600 billion.
Halcon Resources Corporation (NYSE:HK) 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.
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