NEW YORK (TheStreet) -- Halcon Resources (HK) was falling 5.31% to $3.65 at 11:19 a.m. EST on Thursday after the energy company reported fourth-quarter earnings that came up short of analysts' expectations.
The company reported adjusted net income of $4.1 million, or one cent a share. Revenue increased year over year to $289.3 million from $124.8 million. These figures came up just short of the consensus estimate of 4 cents a share on revenue of $290.09 million.
Halcon reported a net loss of $415.3 million, or $1.01 a share, compared to a net loss of $8 million, or 4 cents a share, in the same period one year earlier. Production in the quarter increased 119% to 40,217 barrels of oil equivalent per day.
TheStreet Ratings team rates HALCON RESOURCES CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate HALCON RESOURCES CORP (HK) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."