Halcon Resources Corporation (HK) Now Covered by Imperial Capital

Investment analysts at Imperial Capital initiated coverage on shares of Halcon Resources Corporation (NYSE:HK) in a research report issued to clients and investors on Tuesday, August 1st, MarketBeat.com reports. The brokerage set an “outperform” rating and a $9.00 price target on the energy company’s stock. Imperial Capital’s price target would suggest a potential upside of 44.93% from the stock’s previous close. Imperial Capital also issued estimates for Halcon Resources Corporation’s Q2 2017 earnings at $0.06 EPS, Q3 2017 earnings at ($0.10) EPS, Q4 2017 earnings at $0.02 EPS, FY2017 earnings at $0.05 EPS and FY2018 earnings at $0.37 EPS.

A number of other research analysts have also recently weighed in on HK. Roth Capital set a $14.00 price objective on shares of Halcon Resources Corporation and gave the company a “buy” rating in a report on Saturday, June 3rd. Barclays PLC raised shares of Halcon Resources Corporation from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $5.00 to $8.00 in a report on Thursday, July 13th. Seaport Global Securities reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Halcon Resources Corporation in a report on Tuesday, May 23rd. Zacks Investment Research cut shares of Halcon Resources Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, April 5th. Finally, Scotiabank set a $12.00 target price on shares of Halcon Resources Corporation and gave the stock a “buy” rating in a research note on Tuesday, May 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Halcon Resources Corporation presently has an average rating of “Hold” and a consensus price target of $9.41.

Halcon Resources Corporation (NYSE:HK) opened at 6.21 on Tuesday. The company has a market cap of $891.41 million, a price-to-earnings ratio of 1.46 and a beta of 3.99. The firm has a 50-day moving average price of $6.13 and a 200 day moving average price of $6.82. Halcon Resources Corporation has a one year low of $3.68 and a one year high of $12.76.

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In other Halcon Resources Corporation news, Director Darryl Schall bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were purchased at an average cost of $6.25 per share, with a total value of $62,500.00. Following the purchase, the director now directly owns 35,589 shares in the company, valued at $222,431.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sylvia K. Barnes bought 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were acquired at an average cost of $5.34 per share, for a total transaction of $106,800.00. Following the completion of the purchase, the director now owns 23,757 shares in the company, valued at $126,862.38. The disclosure for this purchase can be found here. Insiders sold a total of 1,831,072 shares of company stock worth $11,181,055 over the last quarter. 2.80% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the company. UBS Oconnor LLC purchased a new stake in shares of Halcon Resources Corporation during the first quarter worth approximately $30,285,000. Boston Partners increased its stake in shares of Halcon Resources Corporation by 1,388.1% in the second quarter. Boston Partners now owns 3,863,260 shares of the energy company’s stock worth $17,539,000 after buying an additional 3,603,645 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Halcon Resources Corporation during the first quarter worth approximately $17,949,000. Citadel Advisors LLC increased its stake in shares of Halcon Resources Corporation by 7,058.2% in the first quarter. Citadel Advisors LLC now owns 2,142,313 shares of the energy company’s stock worth $16,496,000 after buying an additional 2,112,385 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Halcon Resources Corporation by 113.7% in the second quarter. Vanguard Group Inc. now owns 3,296,119 shares of the energy company’s stock worth $14,964,000 after buying an additional 1,753,923 shares in the last quarter. 81.45% of the stock is currently owned by hedge funds and other institutional investors.

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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