Halcon Resources Corporation (NYSE:HK) – Stock analysts at Seaport Global Securities reduced their FY2017 EPS estimates for shares of Halcon Resources in a research report issued on Wednesday. Seaport Global Securities analyst M. Kelly now expects that the energy company will post earnings of ($0.04) per share for the year, down from their previous estimate of ($0.02). Seaport Global Securities currently has a “Buy” rating and a $8.00 price objective on the stock. Seaport Global Securities also issued estimates for Halcon Resources’ Q4 2017 earnings at ($0.03) EPS.
A number of other research analysts have also issued reports on the company. Zacks Investment Research lowered Halcon Resources from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. TheStreet raised Halcon Resources from a “d+” rating to a “c-” rating in a report on Wednesday, November 22nd. ValuEngine lowered Halcon Resources from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Roth Capital set a $9.00 target price on Halcon Resources and gave the company a “buy” rating in a report on Friday, October 20th. Finally, Bank of America began coverage on Halcon Resources in a report on Monday, October 16th. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $9.83.
Halcon Resources (NYSE:HK) last released its quarterly earnings results on Thursday, November 9th. The energy company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.11). The firm had revenue of $96.95 million for the quarter, compared to analyst estimates of $97.34 million. Halcon Resources had a return on equity of 8.76% and a net margin of 124.30%. The firm’s revenue for the quarter was up 319.6% compared to the same quarter last year.
In related news, major shareholder Franklin Resources Inc sold 1,400,000 shares of Halcon Resources stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $6.58, for a total value of $9,212,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 8,247,483 shares of company stock worth $63,617,886. Company insiders own 53.90% of the company’s stock.
Several institutional investors have recently bought and sold shares of HK. Alambic Investment Management L.P. purchased a new stake in shares of Halcon Resources in the fourth quarter valued at approximately $104,000. Amalgamated Bank purchased a new stake in Halcon Resources during the third quarter worth $109,000. Voya Investment Management LLC purchased a new stake in Halcon Resources during the second quarter worth $121,000. Cubist Systematic Strategies LLC boosted its position in Halcon Resources by 107.1% during the second 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, Nationwide Fund Advisors purchased a new stake in Halcon Resources during the second quarter worth $160,000. Hedge funds and other institutional investors own 94.31% 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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