Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of independent oil and gas company Halcon Resources (NYSE: HK ) jumped as much as 13% today after reporting earnings.
So what: First quarter revenue jumped 44% to $275.1 million and easily passed the $256.1 million analysts expected. Adjusted for one-time items, net income was $11.9 million, or $0.03 per share, a penny ahead of estimates.
Now what: Besides the solid results, management is looking to sell noncore assets if the price is right in 2014. But production isn't expected to increase much this year with first-quarter production of 36,622 barrels of oil equivalent per day (Boe/d) and full-year guidance of 38,000 to 42,000 Boe/d. I'd like to see more production growth or higher earnings before jumping in, but beating earnings was an incremental positive last quarter.
3 stock picks to ride America's energy bonanza
Record oil and natural gas production is revolutionizing the United States' energy position. Finding the right plays while historic amounts of capital expenditures are flooding the industry will pad your investment nest egg. For this reason, the Motley Fool is offering a look at three energy companies using a small IRS "loophole" to help line investor pockets. Learn this strategy, and the energy companies taking advantage, in our special report "The IRS Is Daring You To Make This Energy Investment." Don't miss out on this timely opportunity; click here to access your report -- it's absolutely free.