Halcon Resources Corporation (NYSE:HK) saw a significant increase in short interest in October. As of October 13th, there was short interest totalling 10,978,107 shares, an increase of 42.2% from the September 29th total of 7,721,706 shares. Based on an average trading volume of 1,957,639 shares, the short-interest ratio is currently 5.6 days. Approximately 7.7% of the company’s stock are sold short.
Halcon Resources Corporation (NYSE:HK) opened at 6.58 on Wednesday. The firm has a 50-day moving average of $6.42 and a 200-day moving average of $6.18. The stock has a market capitalization of $944.52 million, a PE ratio of 1.55 and a beta of 3.98. Halcon Resources Corporation has a 1-year low of $3.68 and a 1-year high of $11.29.
In other news, Director Darryl Schall purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were acquired at an average cost of $6.25 per share, for a total transaction of $62,500.00. Following the completion of the acquisition, the director now 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 can be accessed through this hyperlink. Also, major shareholder Franklin Resources Inc sold 1,650,000 shares of the business’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $6.24, for a total transaction of $10,296,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,698,219 shares of company stock valued at $55,285,549. 53.90% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new position in shares of Halcon Resources Corporation in the first quarter worth approximately $174,000. Jane Street Group LLC boosted its holdings in shares of Halcon Resources Corporation by 133.6% in the first quarter. Jane Street Group LLC now owns 25,616 shares of the energy company’s stock worth $197,000 after buying an additional 14,648 shares during the last quarter. Voya Investment Management LLC purchased a new position in shares of Halcon Resources Corporation in the second quarter worth approximately $121,000. Cubist Systematic Strategies LLC boosted its holdings in shares of Halcon Resources Corporation by 107.1% in the second quarter. Cubist Systematic Strategies LLC now owns 28,744 shares of the energy company’s stock worth $130,000 after buying an additional 14,864 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Halcon Resources Corporation in the first quarter worth approximately $222,000. 91.49% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently weighed in on HK. Zacks Investment Research upgraded shares of Halcon Resources Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. Roth Capital set a $9.00 price target on shares of Halcon Resources Corporation and gave the stock a “buy” rating in a report on Tuesday, August 1st. Imperial Capital began coverage on shares of Halcon Resources Corporation in a report on Tuesday, August 1st. They set an “outperform” rating and a $9.00 price target on the stock. Barclays PLC upgraded shares of Halcon Resources Corporation from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $5.00 to $8.00 in a report on Thursday, July 13th. Finally, ValuEngine cut shares of Halcon Resources Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $10.00.
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Halcon Resources Corporation Company Profile
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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