JPMorgan Chase & Co. Sells 923,798 Shares of Halcon Resources Corporation (HK)

JPMorgan Chase & Co. reduced its holdings in Halcon Resources Corporation (NYSE:HK) by 20.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,616,204 shares of the energy company’s stock after selling 923,798 shares during the period. JPMorgan Chase & Co. owned 2.41% of Halcon Resources worth $25,097,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. SG Americas Securities LLC increased its stake in shares of Halcon Resources by 45.6% during the 3rd quarter. SG Americas Securities LLC now owns 25,999 shares of the energy company’s stock worth $177,000 after purchasing an additional 8,137 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of Halcon Resources by 107.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 28,744 shares of the energy company’s stock worth $130,000 after purchasing an additional 14,864 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Halcon Resources by 83.5% during the 3rd quarter. Legal & General Group Plc now owns 32,858 shares of the energy company’s stock worth $223,000 after purchasing an additional 14,952 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of Halcon Resources by 37.0% during the 3rd quarter. New York State Common Retirement Fund now owns 55,500 shares of the energy company’s stock worth $377,000 after purchasing an additional 15,000 shares during the last quarter. Finally, Texas Yale Capital Corp. increased its stake in shares of Halcon Resources by 77.2% during the 2nd quarter. Texas Yale Capital Corp. now owns 45,261 shares of the energy company’s stock worth $205,000 after purchasing an additional 19,719 shares during the last quarter. Hedge funds and other institutional investors own 94.33% of the company’s stock.

Shares of Halcon Resources Corporation (NYSE:HK) traded down $0.17 on Friday, reaching $7.15. 1,570,300 shares of the company were exchanged, compared to its average volume of 2,472,320. Halcon Resources Corporation has a twelve month low of $3.68 and a twelve month high of $10.30. The firm has a market cap of $1,095.04, a price-to-earnings ratio of 11.09 and a beta of 4.03. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.91 and a current ratio of 1.91.

Halcon Resources (NYSE:HK) last announced its quarterly earnings results on Thursday, November 9th. The energy company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.11). Halcon Resources had a net margin of 124.30% and a return on equity of 8.76%. The company had revenue of $96.95 million during the quarter, compared to analyst estimates of $97.34 million. The company’s quarterly revenue was up 319.6% on a year-over-year basis. analysts anticipate that Halcon Resources Corporation will post -0.03 earnings per share for the current year.

HK has been the topic of several recent analyst reports. BidaskClub upgraded shares of Halcon Resources from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. ValuEngine lowered shares of Halcon Resources from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research lowered shares of Halcon Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Roth Capital set a $9.00 price target on shares of Halcon Resources and gave the company 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $9.57.

In related news, major shareholder Franklin Resources Inc sold 380,000 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $6.38, for a total value of $2,424,400.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 9,485,339 shares of company stock worth $63,069,372. 53.90% of the stock is owned by company insiders.

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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.

Institutional Ownership by Quarter for Halcon Resources (NYSE:HK)

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