Why Halcon Resources (HK) Stock Is Up Today

NEW YORK (TheStreet) -- Halcon Rescources (HK) was gaining 9.3% to $5.78 Thursday after beating analysts' expectations for earnings and revenue in the first quarter.

For the first quarter Halcon reported earnings of 3 cents a share, beating the Capital IQ Consensus Estimate of 2 cents a share by 1 cent. Revenue grew 44.3% year-over-year to $275.1 million for the quarter. Analysts expected revenue of $256.14 for the quarter.

"First quarter results exceeded expectations," chairman and CEO Floyd C. Wilson said in a press release. "Our persistent focus on improving returns via technological innovation and good old fashioned hard work is beginning to pay off. We are firing on all cylinders from an operational standpoint and are excited about the opportunities that lie ahead."

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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 some concerns, 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, weak operating cash flow and generally disappointing historical performance in the stock itself."

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