Halcon Resources Corporation (NYSE:HK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, October 18th.
According to Zacks, “Halcon Resources Corporation is an energy company engaged in the acquisition, exploration and development of onshore oil and natural gas properties in the United States. The Company operates in Wichita, Wilbarger and Starr Counties in Texas, Pontotoc and Seminole Counties, Oklahoma, and Louisiana. Halcon Resources Corporation, formerly known as RAM Energy Resources, Inc., is based in Louisiana, USA. “
Other research analysts have also recently issued research reports about the stock. Barclays PLC reaffirmed a “sell” rating and issued a $5.00 price target on shares of Halcon Resources Corporation in a report on Friday, July 7th. Seaport Global Securities upgraded shares of Halcon Resources Corporation from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $7.00 to $8.00 in a research note on Tuesday, October 17th. BidaskClub upgraded shares of Halcon Resources Corporation from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Roth Capital set a $9.00 price objective on shares of Halcon Resources Corporation and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Finally, ValuEngine lowered shares of Halcon Resources Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $10.00.
Shares of Halcon Resources Corporation (HK) traded up 6.79% on Wednesday, reaching $6.45. The company had a trading volume of 2,340,433 shares. Halcon Resources Corporation has a 12 month low of $3.69 and a 12 month high of $11.29. The stock has a 50-day moving average price of $6.39 and a 200-day moving average price of $6.20. The stock has a market cap of $925.86 million, a PE ratio of 1.52 and a beta of 3.99.
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In other news, Director Darryl Schall bought 10,000 shares of Halcon Resources Corporation stock in a transaction on Friday, August 4th. The shares were bought at an average cost of $6.25 per share, with a total value of $62,500.00. Following the completion of the purchase, the director now directly owns 35,589 shares of the company’s stock, valued at $222,431.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Franklin Resources Inc sold 305,201 shares of Halcon Resources Corporation stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $6.13, for a total transaction of $1,870,882.13. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,698,219 shares of company stock worth $55,285,549. Insiders own 53.90% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Voya Investment Management LLC acquired a new stake in shares of Halcon Resources Corporation during the second quarter valued at about $121,000. Cubist Systematic Strategies LLC increased its position in shares of Halcon Resources Corporation by 107.1% during the second quarter. Cubist Systematic Strategies LLC now owns 28,744 shares of the energy company’s stock valued at $130,000 after acquiring an additional 14,864 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Halcon Resources Corporation during the first quarter valued at about $140,000. Nationwide Fund Advisors acquired a new stake in shares of Halcon Resources Corporation during the second quarter valued at about $160,000. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of Halcon Resources Corporation during the second quarter valued at about $172,000. 91.38% of the stock is currently owned by institutional investors.
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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