Halcon Resources Corp (HK) Expected to Post Quarterly Sales of $61.98 Million

Equities analysts predict that Halcon Resources Corp (NYSE:HK) will announce sales of $61.98 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Halcon Resources’ earnings. The highest sales estimate is $68.42 million and the lowest is $52.32 million. Halcon Resources reported sales of $49.26 million during the same quarter last year, which indicates a positive year-over-year growth rate of 25.8%. The firm is expected to announce its next quarterly earnings report on Wednesday, May 1st.

On average, analysts expect that Halcon Resources will report full-year sales of $307.85 million for the current year, with estimates ranging from $268.00 million to $339.49 million. For the next year, analysts expect that the business will report sales of $400.98 million, with estimates ranging from $355.27 million to $473.89 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Halcon Resources.

Halcon Resources (NYSE:HK) last announced its quarterly earnings data on Tuesday, March 12th. The energy company reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.02). Halcon Resources had a negative return on equity of 0.65% and a net margin of 20.28%. The company had revenue of $60.34 million for the quarter, compared to analyst estimates of $64.94 million.

A number of brokerages have recently commented on HK. Johnson Rice downgraded Halcon Resources from a “buy” rating to a “hold” rating and set a $7.00 price objective for the company. in a research report on Friday, February 22nd. Roth Capital lowered their price target on Halcon Resources from $13.00 to $3.50 and set a “buy” rating for the company in a report on Monday, January 28th. Zacks Investment Research raised Halcon Resources from a “sell” rating to a “hold” rating in a report on Tuesday, January 22nd. Bank of America downgraded Halcon Resources from a “neutral” rating to an “underperform” rating in a report on Friday, January 4th. Finally, Imperial Capital lowered their price target on Halcon Resources from $6.00 to $3.00 and set an “outperform” rating for the company in a report on Thursday, December 27th. Four equities 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 stock. The stock currently has a consensus rating of “Hold” and an average price target of $5.34.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Oaktree Capital Management LP lifted its stake in Halcon Resources by 805.5% in 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 buying an additional 10,230,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Halcon Resources by 29.7% in 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 buying an additional 1,870,829 shares during the last quarter. LSP Investment Advisors LLC lifted its stake in Halcon Resources by 132.3% in 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 buying an additional 4,578,499 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Halcon Resources by 8.9% in the third quarter. JPMorgan Chase & Co. now owns 3,986,822 shares of the energy company’s stock valued at $17,821,000 after buying an additional 324,836 shares during the last quarter. Finally, Luminus Management LLC lifted its stake in Halcon Resources by 44.4% in the third quarter. Luminus Management LLC now owns 3,546,629 shares of the energy company’s stock valued at $15,853,000 after buying an additional 1,089,929 shares during the last quarter.

Shares of Halcon Resources stock opened at $1.35 on Friday. Halcon Resources has a one year low of $1.17 and a one year high of $5.89. The stock has a market cap of $211.54 million, a PE ratio of -27.00 and a beta of 3.71. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.89 and a quick ratio of 0.89.

Halcon Resources Company Profile

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.

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Earnings History and Estimates for Halcon Resources (NYSE:HK)

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