Zacks Investment Research upgraded shares of Halcon Resources Co. (NYSE:HK) from a sell rating to a hold rating in a report issued on Friday, April 14th.
According to Zacks, “Halcon Resources Corporation is an energy company engaged in the acquisition, exploration and development of onshore oil and natural gas properties in the United States. The Company operates in Wichita, Wilbarger and Starr Counties in Texas, Pontotoc and Seminole Counties, Oklahoma, and Louisiana. Halcon Resources Corporation, formerly known as RAM Energy Resources, Inc., is based in Louisiana, USA. “
A number of other research firms have also commented on HK. Barclays PLC reaffirmed a sell rating and set a $9.00 price target on shares of Halcon Resources in a research report on Friday, March 3rd. Scotiabank reissued a buy rating and issued a $11.00 target price on shares of Halcon Resources in a research report on Monday, March 27th. Capital One Financial Corp. raised Halcon Resources from an equal weight rating to an overweight rating in a research report on Wednesday, January 25th. Johnson Rice raised Halcon Resources from a hold rating to an accumulate rating in a research report on Wednesday, March 1st. Finally, Stephens raised Halcon Resources from an equal weight rating to an overweight rating and set a $12.00 target price on the stock in a research report on Wednesday, January 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Halcon Resources has an average rating of Hold and an average price target of $11.21.
Shares of Halcon Resources (NYSE:HK) traded up 7.24% on Friday, hitting $7.11. The stock had a trading volume of 2,654,532 shares. The stock’s 50-day moving average price is $7.06 and its 200 day moving average price is $8.28. Halcon Resources has a 52 week low of $6.32 and a 52 week high of $19.31. The company has a market cap of $648.96 million, a PE ratio of 3.05 and a beta of 3.42.
Halcon Resources (NYSE:HK) last released its quarterly earnings results on Wednesday, May 3rd. The energy company reported $0.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.03. The company had revenue of $135.60 million for the quarter, compared to analyst estimates of $144.13 million. Halcon Resources had a negative return on equity of 42.63% and a negative net margin of 538.20%. On average, analysts predict that Halcon Resources will post $0.27 EPS for the current year.
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In other news, major shareholder Franklin Resources Inc sold 31,341 shares of Halcon Resources stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $6.73, for a total transaction of $210,924.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 22.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of HK. JPMorgan Chase & Co. increased its position in shares of Halcon Resources by 20,288.3% in the third quarter. JPMorgan Chase & Co. now owns 4,961,293 shares of the energy company’s stock valued at $46,536,000 after buying an additional 4,936,959 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Halcon Resources during the first quarter valued at approximately $17,949,000. Citadel Advisors LLC increased its position in shares of Halcon Resources by 7,058.2% in the first quarter. Citadel Advisors LLC now owns 2,142,313 shares of the energy company’s stock valued at $16,496,000 after buying an additional 2,112,385 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Halcon Resources by 25.6% in the first quarter. Vanguard Group Inc. now owns 1,542,196 shares of the energy company’s stock valued at $11,875,000 after buying an additional 314,072 shares in the last quarter. Finally, Paloma Partners Management Co increased its position in shares of Halcon Resources by 3,565.1% in the first quarter. Paloma Partners Management Co now owns 1,308,800 shares of the energy company’s stock valued at $10,078,000 after buying an additional 1,273,090 shares in the last quarter. Institutional investors own 84.82% of the company’s stock.
About Halcon Resources
Halcon Resources Corporation is an independent energy company focused on the acquisition, production, exploration and development of onshore liquids-rich oil and natural gas assets in the United States. The Company’s estimated total proved oil and natural gas reserves are approximately 146.8 million barrels of oil equivalent (MMBoe), consisting of over 120.7 million barrels of oil (MMBbls), approximately 13.0 MMBbls of natural gas liquids and over 78.4 billion cubic feet (Bcf) of natural gas.
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