Analysts are weighing in on how Halcon Resources Corp (NYSE:HK), might perform in the near term. Wall Street analysts have a unfavorable assessment of the stock, with a mean rating of 3.4. The stock is rated as buy by 1 analysts, with 0 outperform and 3 hold rating. The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for strong sell.
For the current quarter, the 7.00 analysts offering adjusted EPS forecast have a consensus estimate of $0.04 a share, which would compare with $0.10 in the same quarter last year. They have a high estimate of $0.19 and a low estimate of $-0.19. Revenue for the period is expected to total nearly $167.81M from $168.02M the year-ago period.
For the full year, 6.00 Wall Street analysts forecast this company would deliver earnings of 0.48 per share, with a high estimate of $0.75 and a low estimate of $-0.10. It had reported earnings per share of $1.01 in the corresponding quarter of the previous year. Revenue for the period is expected to total nearly $595.73M versus 550.28M in the preceding year.
The analysts project the company to maintain annual growth of around 25.00% percent over the next five years as compared to an average growth rate of 8.52% percent expected for its competitors in the same industry.
Among the 6 analysts Data provided by Thomson/First Call tracks, the 12-month average price target for HK is $1.73 but some analysts are projecting the price to go as high as $5.00. If the optimistic analysts are correct, that represents a 900 percent upside potential from the recent closing price of $0.50. Some sell-side analysts, particularly the bearish ones, have called for $0.40 price targets on shares of Halcon Resources Corp (NYSE:HK).
In the last reported results, the company reported earnings of $0.10 per share, while analysts were calling for share earnings of $-0.10. It was an earnings surprise of 200.00%percent. In the matter of earnings surprises, the term Cockroach Effect is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.
Halcn Resources Corporation, an independent energy company, engages in the acquisition, production, exploration, and development of onshore oil and natural gas properties in the United States. The company primarily holds interests the Bakken/Three Forks Formations comprising approximately 123,000 net acres of area in North Dakota; and East Texas Eagle Ford Formations covering approximately 92,000 acres of area in Brazos, Burleson, and Robertson counties. As of December 31, 2014, it had estimated proved reserves of approximately 146.8 million barrels of oil equivalent comprising 120.7 million barrels of crude oil, 13.0 million barrels of natural gas liquids, and 78.4 billion cubic feet of natural gas. The company was formerly known as RAM Energy Resources, Inc. and changed its name to Halcn Resources Corporation in February 2012. Halcn Resources Corporation is headquartered in Houston, Texas.