Halcon Resources (HK) Downgraded by ValuEngine

Halcon Resources (NYSE:HK) was downgraded by research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Thursday.

Several other research analysts also recently commented on the stock. Stephens restated a “buy” rating and set a $13.00 price objective on shares of Halcon Resources in a research report on Monday, February 26th. Zacks Investment Research downgraded shares of Halcon Resources from a “hold” rating to a “sell” rating in a research report on Thursday, January 25th. Bank of America lowered their price target on shares of Halcon Resources from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, February 7th. TheStreet downgraded shares of Halcon Resources from a “c-” rating to a “d+” rating in a report on Tuesday, March 20th. Finally, Imperial Capital reiterated an “outperform” rating and set a $9.00 price target (down from $12.00) on shares of Halcon Resources in a report on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $9.50.

Halcon Resources traded up $0.65, hitting $5.58, during trading on Thursday, according to MarketBeat Ratings. 5,284,437 shares of the stock traded hands, compared to its average volume of 3,440,210. Halcon Resources has a twelve month low of $4.81 and a twelve month high of $4.93. The company has a market cap of $787.85 million, a P/E ratio of -37.20 and a beta of 3.95. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.20 and a quick ratio of 3.20.

Halcon Resources (NYSE:HK) last announced its quarterly earnings data on Wednesday, May 2nd. The energy company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Halcon Resources had a net margin of 117.87% and a negative return on equity of 3.42%. The firm had revenue of $49.30 million for the quarter, compared to analyst estimates of $44.34 million. During the same quarter in the prior year, the firm earned $0.06 earnings per share. The firm’s revenue for the quarter was down 63.6% on a year-over-year basis. analysts expect that Halcon Resources will post 0.04 earnings per share for the current fiscal year.

In related news, Director Darryl Schall acquired 7,000 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The stock was acquired at an average cost of $5.48 per share, for a total transaction of $38,360.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Floyd C. Wilson acquired 50,000 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The stock was bought at an average price of $5.22 per share, with a total value of $261,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,669,486 shares of the company’s stock, valued at $8,714,716.92. The disclosure for this purchase can be found here. 3.70% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of HK. Alambic Investment Management L.P. acquired a new stake in Halcon Resources in the fourth quarter valued at $104,000. Point72 Asia Hong Kong Ltd acquired a new stake in Halcon Resources in the first quarter valued at $114,000. Virtu Financial LLC acquired a new stake in Halcon Resources in the fourth quarter valued at $121,000. Gotham Asset Management LLC acquired a new stake in Halcon Resources in the fourth quarter valued at $124,000. Finally, Paloma Partners Management Co acquired a new stake in Halcon Resources in the fourth quarter valued at $131,000. Institutional investors and hedge funds own 92.10% of the company’s stock.

About Halcon Resources

Halcón Resources Corporation, an independent energy company, engages in the acquisition, production, exploration, and development of onshore oil and natural gas assets in the United States. As of February 28, 2018, the company held interests in 21,679 net acres in the Monument Draw area of the Delaware Basin, located in Pecos and Reeves Counties, Texas; and 27,035 net acres in the Hackberry Draw area of the Delaware Basin, located in Pecos and Reeves Counties, Texas.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Halcon Resources (NYSE:HK)

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