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.
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Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.