Dallas, Texas 09/23/2013 (Financialstrend) – An independent energy company, Halcon Resources Corp (NYSE:HK), is involved in the acquisition, exploration, production and development of onshore oil and natural gas assets. It’s oil and natural gas reserves are largely confined in the United States include reserves in Louisiana, Montana, North Dakota, Oklahoma and Texas. The company’s net interest is sprawled across 450,000 net acres and includes company owned, leased or under contract areas.
Presently many stock analysts have commented about the company and among them Canaccord Genuity and Howard Weil are the most recent commenters. Equities research analysts at Canaccord Genuity maintained their ‘buy’ rating for the stock with a price target of $7 in a report issued during the last week. Separately analysts at Howard Weil also maintained their ‘hold’ rating for the stock, while lowered the price target to $7. The company has a consensus price target of $8.04 with an average ‘hold’ rating.
The company posted the revenue of $214.34 million for the 2Q13, almost 12.4% increase compared to 1Q13 and 818.3% increase compared to 2Q12. The revenues for 1Q13 and 2Q12 were reported at $190.66 million and $23.34 million respectively. The revenue earning also beat the street estimates of $208.55 million. The company’s earnings per share for 2Q13 reported at $0.08 per share also beat the analysts’ consensus estimate of $0.06. Earnings per share during 1Q13 and 2Q12 were reported at $0.02 and ($0.58) respectively.
The stock of the Halcon Resources Corp (NYSE:HK) has lost around 30% year to date. The stock has traded within 52 week range of $4.64 and $8.28. Currently the stock is trading along its yearly low and on Friday, September 20, the stock traded in the range of $4.69 and $4.84 before closing at $4.76, losing around 1% from its previous close. Halcon Resources Corp (NYSE:HK) has market capitalization worth $1.94 billion with 408.1 million total shares outstanding.