Halcon Resources Corporation (NYSE:HK) has received an average recommendation of “Buy” from the thirteen research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $9.57.
Several brokerages have issued reports on HK. BidaskClub raised shares of Halcon Resources from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Zacks Investment Research raised shares of Halcon Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Seaport Global Securities raised shares of Halcon Resources from a “neutral” rating to a “buy” rating and lifted their price target for the company from $7.00 to $8.00 in a research note on Tuesday, October 17th. Bank of America lifted their price target on shares of Halcon Resources from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, November 10th. Finally, 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.
Shares of Halcon Resources (NYSE HK) traded down $0.02 during midday trading on Thursday, reaching $7.29. 2,930,000 shares of the company’s stock traded hands, compared to its average volume of 2,500,000. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $1,090.00, a P/E ratio of 11.06 and a beta of 4.03. Halcon Resources has a twelve month low of $3.68 and a twelve month high of $10.30.
Halcon Resources (NYSE:HK) last announced its quarterly earnings data on Thursday, November 9th. The energy company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.11). The firm had revenue of $96.95 million during the quarter, compared to the consensus estimate of $97.34 million. Halcon Resources had a return on equity of 8.76% and a net margin of 124.30%. Halcon Resources’s quarterly revenue was up 319.6% compared to the same quarter last year. research analysts predict that Halcon Resources will post -0.03 earnings per share for the current fiscal year.
In other news, major shareholder Franklin Resources Inc sold 450,000 shares of Halcon Resources stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $6.66, for a total transaction of $2,997,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 8,620,910 shares of company stock valued at $57,564,003 in the last ninety days. Insiders own 53.90% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP increased its holdings in Halcon Resources by 357.0% during the third quarter. GSA Capital Partners LLP now owns 287,740 shares of the energy company’s stock valued at $1,957,000 after buying an additional 224,774 shares during the period. Cubist Systematic Strategies LLC increased its holdings in Halcon Resources by 35.8% during the third quarter. Cubist Systematic Strategies LLC now owns 39,039 shares of the energy company’s stock valued at $265,000 after buying an additional 10,295 shares during the period. Vident Investment Advisory LLC purchased a new position in Halcon Resources during the third quarter valued at approximately $2,512,000. Anchor Bolt Capital LP purchased a new position in Halcon Resources during the third quarter valued at approximately $27,585,000. Finally, Senvest Management LLC purchased a new position in Halcon Resources during the third quarter valued at approximately $10,098,000. 94.28% of the stock is currently owned by 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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