Halcon Resources Tumbles 8%, Went Near Yr Lows on Q1 EPS, Sales Miss; But Shows Improved Cash Flow


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Halcon Resources Corp. ( HK ) is down 8.4% at around $5.70 - but above day lows of $5.34 that, in fact, took it near to a year low $5.26 - after reporting Q1 earnings of $0.05 per share, one cent shy of analyst estimates. Revenues were $190.7 million, short of estimates of $191.5 million.

Cash flow from operations before changes in working capital, after adjusting for selected items, was $106.4 million for the quarter, or $0.28 per diluted share, compared to $6.3 million, or $0.09 per diluted share for the same period of 2012.

HK is trading at $5.72, near the low in a 52-week range of $5.26 - $11.24. Shares are moving on volume of 15 million vs. the 30-day avg. of 5 million.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities

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