Petrohawk (HK) To Stay Profitable In 2010

CNN gave its top 10 picks for 2010. Here’s a report.

Petrohawk Energy Corporation (NYSE: HK) was one of the top 10 stocks picked by CNN to be watched out for in 2010.

Petrohawk Energy Corporation reported revenues of $1.1 billion in 2008 and has a market-cap of $6.3 billion. CNN noted that the company tapped Haynesville Shale last year, a lucrative natural gas field, and controls more than 300,000 acres of land. Scott Glasser, a fund manager, believes that Petrohawk will stay profitable even if gas prices fall further as it has a low-cost structure coupled with an above-average production growth. The stock is currently trading at $22.42.