FY2017 EPS Estimates for Halcon Resources Corporation (HK) Reduced by Capital One Financial
Halcon Resources Corporation (NYSE:HK) – Investment analysts at Capital One Financial cut their FY2017 earnings per share (EPS) estimates for Halcon Resources in a research note issued on Wednesday. Capital One Financial analyst B. Velie now forecasts that the energy company will post earnings per share of ($0.03) for the year, down from their prior forecast of ($0.01). Capital One Financial also issued estimates for Halcon Resources’ Q4 2017 earnings at ($0.03) EPS.
Other research analysts also recently issued reports about the company. Roth Capital set a $9.00 price target on Halcon Resources and gave the company a “buy” rating in a report on Friday, October 20th. Johnson Rice raised Halcon Resources from an “accumulate” rating to a “buy” rating in a report on Wednesday, October 18th. Seaport Global Securities raised Halcon Resources from a “neutral” rating to a “buy” rating and boosted their price target for the company from $7.00 to $8.00 in a report on Tuesday, October 17th. TheStreet raised Halcon Resources from a “d+” rating to a “c-” rating in a report on Wednesday, November 22nd. Finally, Zacks Investment Research raised Halcon Resources from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $9.88.
Halcon Resources (NYSE:HK) last released its earnings results on Thursday, November 9th. The energy company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.11). Halcon Resources had a return on equity of 8.76% and a net margin of 124.30%. The firm had revenue of $96.95 million for the quarter, compared to analyst estimates of $97.34 million. The firm’s revenue for the quarter was up 319.6% compared to the same quarter last year.
In other news, major shareholder Franklin Resources Inc sold 709,998 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $6.14, for a total value of $4,359,387.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 11,116,337 shares of company stock valued at $72,995,519 over the last three months. 53.90% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of HK. GSA Capital Partners LLP increased its position in shares of Halcon Resources by 357.0% during the third quarter. GSA Capital Partners LLP now owns 287,740 shares of the energy company’s stock worth $1,957,000 after purchasing an additional 224,774 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in shares of Halcon Resources by 35.8% during the third quarter. Cubist Systematic Strategies LLC now owns 39,039 shares of the energy company’s stock worth $265,000 after purchasing an additional 10,295 shares in the last quarter. Vident Investment Advisory LLC purchased a new stake in shares of Halcon Resources during the third quarter worth approximately $2,512,000. Anchor Bolt Capital LP purchased a new stake in shares of Halcon Resources during the third quarter worth approximately $27,585,000. Finally, Senvest Management LLC purchased a new stake in shares of Halcon Resources during the third quarter worth approximately $10,098,000. Institutional investors and hedge funds own 94.33% of the company’s stock.
Halcon Resources Company Profile
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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