Halcon Resources (NYSE:HK) had its price target trimmed by Bank of America from $10.00 to $9.00 in a report released on Wednesday. The firm currently has a neutral rating on the energy company’s stock.
Several other brokerages also recently weighed in on HK. Seaport Global Securities upgraded shares of Halcon Resources from a neutral rating to a buy rating and increased their target price for the stock from $7.00 to $8.00 in a research note on Tuesday, October 17th. Johnson Rice upgraded shares of Halcon Resources from an accumulate rating to a buy rating in a research note on Wednesday, October 18th. Zacks Investment Research downgraded shares of Halcon Resources from a hold rating to a sell rating in a research note on Wednesday, October 18th. Roth Capital set a $9.00 target price on shares of Halcon Resources and gave the stock a buy rating in a research note on Friday, October 20th. Finally, TheStreet upgraded shares of Halcon Resources from a d+ rating to a c- rating in a research note on Wednesday, November 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $9.83.
Halcon Resources (NYSE HK) opened at $7.08 on Wednesday. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.35. Halcon Resources has a 12 month low of $3.68 and a 12 month high of $9.61. The stock has a market cap of $1,070.37, a price-to-earnings ratio of 1.77 and a beta of 3.97.
In other news, major shareholder Franklin Resources Inc sold 600,000 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $7.03, for a total transaction of $4,218,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 8,247,483 shares of company stock valued at $63,617,886 in the last quarter. Insiders own 53.90% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. purchased a new position in Halcon Resources during the second quarter worth about $472,000. Vanguard Group Inc. raised its holdings in Halcon Resources by 113.7% during the second quarter. Vanguard Group Inc. now owns 3,296,119 shares of the energy company’s stock worth $14,964,000 after purchasing an additional 1,753,923 shares in the last quarter. Vident Investment Advisory LLC purchased a new position in Halcon Resources during the third quarter worth about $2,512,000. Bank of New York Mellon Corp raised its holdings in Halcon Resources by 184.5% during the third quarter. Bank of New York Mellon Corp now owns 593,574 shares of the energy company’s stock worth $4,036,000 after purchasing an additional 384,934 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new position in Halcon Resources during the second quarter worth about $1,496,000. 94.31% of the stock is owned by hedge funds and other institutional investors.
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Halcon Resources 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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