Halcon Resources Corporation (NYSE:HK) Upgraded to Buy at Seaport Global Securities

Seaport Global Securities upgraded shares of Halcon Resources Corporation (NYSE:HK) from a neutral rating to a buy rating in a research note published on Tuesday, October 17th, MarketBeat Ratings reports. The brokerage currently has $8.00 target price on the energy company’s stock, up from their previous target price of $7.00. Seaport Global Securities also issued estimates for Halcon Resources Corporation’s Q3 2017 earnings at $0.04 EPS, Q4 2017 earnings at $0.02 EPS, FY2017 earnings at $0.12 EPS, Q1 2018 earnings at $0.03 EPS, Q2 2018 earnings at $0.04 EPS, Q3 2018 earnings at $0.08 EPS, Q4 2018 earnings at $0.09 EPS and FY2018 earnings at $0.25 EPS.

Other equities research analysts also recently issued research reports about the stock. Roth Capital set a $9.00 price target on shares of Halcon Resources Corporation and gave the stock a buy rating in a research note on Tuesday, August 1st. Barclays PLC raised shares of Halcon Resources Corporation from an underweight rating to an equal weight rating and lifted their price target for the stock from $5.00 to $8.00 in a research note on Thursday, July 13th. ValuEngine downgraded shares of Halcon Resources Corporation from a buy rating to a hold rating in a research note on Friday, September 1st. BidaskClub raised shares of Halcon Resources Corporation from a sell rating to a hold rating in a research note on Friday, August 25th. Finally, Zacks Investment Research raised shares of Halcon Resources Corporation from a sell rating to a hold rating in a report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $10.00.

Halcon Resources Corporation (HK) traded up 5.877% during trading on Tuesday, hitting $6.395. The stock had a trading volume of 1,421,061 shares. The company has a market cap of $917.96 million, a price-to-earnings ratio of 1.504 and a beta of 3.99. Halcon Resources Corporation has a 52-week low of $3.69 and a 52-week high of $11.29. The firm’s 50-day moving average price is $6.38 and its 200-day moving average price is $6.21.

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In related news, Director Darryl Schall acquired 10,000 shares of the 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 completion of the transaction, the director now owns 35,589 shares of the company’s stock, valued at approximately $222,431.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Franklin Resources Inc sold 1,650,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 18th. The shares were 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. Insiders sold a total of 8,698,219 shares of company stock worth $55,285,549 over the last quarter. Insiders own 53.90% of the company’s stock.

A number of hedge funds have recently bought and sold shares of HK. Bank of New York Mellon Corp bought a new stake in Halcon Resources Corporation in the first quarter worth approximately $174,000. UBS Asset Management Americas Inc. grew its position in Halcon Resources Corporation by 51.2% in the first quarter. UBS Asset Management Americas Inc. now owns 108,911 shares of the energy company’s stock worth $839,000 after acquiring an additional 36,901 shares in the last quarter. SG Americas Securities LLC bought a new stake in Halcon Resources Corporation in the first quarter worth approximately $222,000. Dynamic Technology Lab Private Ltd bought a new stake in Halcon Resources Corporation in the first quarter worth approximately $140,000. Finally, Wellington Management Group LLP bought a new stake in Halcon Resources Corporation in the first quarter worth approximately $1,139,000. 91.38% of the stock is owned by 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.

Analyst Recommendations for Halcon Resources Corporation (NYSE:HK)

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