Halcon Resources Corp (HK) was Reiterated by Wunderlich to “Hold” according to the research note released today. The brokerage firm has raised the Price Target to $ 12 from a previous price target of $1 . Wunderlich advised their investors in a research report released on Sep 13, 2016.
On the company’s financial health, Halcon Resources Corp reported $0.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.25 according to the earnings call on May 9, 2016. Analyst had a consensus of $-0.04. The company had revenue of $81.30 million for the quarter, compared to analysts expectations of $174.94 million. The company’s revenue was down -40.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.04 EPS.
Halcon Resources Corp opened for trading at $9.88 and hit $12.01 on the upside on Monday, eventually ending the session at $10.85, with a gain of 3478.50% or 10.5468 points. The heightened volatility saw the trading volume jump to 1,158,342 shares. Company has a market cap of $1,331 M.
In a different news, on Dec 21, 2015, James W Christmas (director) purchased 200,000 shares at $0.26 per share price. According to the SEC, on Dec 21, 2015, Floyd C Wilson (CEO) purchased 500,000 shares at $0.26 per share price. On Dec 21, 2015, David S Elkouri (EVP, Corp Strategy and CLO) purchased 100,000 shares at $0.26 per share price, according to the Form-4 filing with the securities and exchange commission.
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 companys estimated total proved oil and natural gas reserves were approximately 189.1 million barrels of oil equivalent (MMBoe) consisting of 155.6 MMBoe of oil 16.3 MMBbls of natural gas liquids and 103.7 billion cubic feet (Bcf) of natural gas as of December 31 2014. Approximately 41% of the Companys reserves were classified as proved developed as of 2014. The Companys oil and natural gas assets consist of undeveloped acreage positions in unconventional liquids-rich basins/fields.