Halcon Resources Corporation (HK) Stock Rating Upgraded by Barclays PLC

Barclays PLC upgraded shares of Halcon Resources Corporation (NYSE:HK) from an underweight rating to an equal weight rating in a research report sent to investors on Thursday, July 13th, Marketbeat.com reports. The brokerage currently has $8.00 target price on the energy company’s stock, up from their prior target price of $5.00.

Several other research firms have also recently commented on HK. Zacks Investment Research cut shares of Halcon Resources Corporation from a hold rating to a sell rating in a research report on Wednesday, April 5th. ValuEngine cut shares of Halcon Resources Corporation from a buy rating to a hold rating in a research report on Friday, June 2nd. Scotiabank reissued a buy rating and set a $11.00 price target on shares of Halcon Resources Corporation in a research report on Monday, March 27th. Roth Capital set a $14.00 price target on shares of Halcon Resources Corporation and gave the stock a buy rating in a research report on Thursday, May 4th. Finally, Seaport Global Securities reissued a buy rating and set a $10.00 price target on shares of Halcon Resources Corporation in a research report on Tuesday, May 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Halcon Resources Corporation currently has a consensus rating of Hold and a consensus price target of $9.41.

Halcon Resources Corporation (HK) traded up 3.04% during trading on Thursday, reaching $6.45. 1,659,964 shares of the company’s stock traded hands. The firm has a market cap of $925.86 million, a PE ratio of 1.52 and a beta of 3.99. Halcon Resources Corporation has a 12 month low of $3.69 and a 12 month high of $14.14. The firm has a 50 day moving average price of $5.75 and a 200-day moving average price of $6.92.

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In related news, Director Darryl Schall purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were acquired at an average price of $6.25 per share, for a total transaction of $62,500.00. Following the purchase, the director now owns 35,589 shares in the company, valued at $222,431.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Franklin Resources Inc sold 746,173 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $6.07, for a total transaction of $4,529,270.11. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in HK. Clinton Group Inc. bought a new position in shares of Halcon Resources Corporation during the first quarter worth approximately $119,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Halcon Resources Corporation during the first quarter worth approximately $140,000. Sanders Morris Harris Inc. bought a new position in shares of Halcon Resources Corporation during the first quarter worth approximately $159,000. Bank of New York Mellon Corp acquired a new position in shares of Halcon Resources Corporation during the first quarter worth about $174,000. Finally, Texas Yale Capital Corp. acquired a new position in shares of Halcon Resources Corporation during the first quarter worth about $197,000. Institutional investors and hedge funds own 78.62% of the company’s stock.

About Halcon Resources Corporation

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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