Wells Fargo & Company MN grew its stake in shares of Halcon Resources Corporation (NYSE:HK) by 30.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 397,998 shares of the energy company’s stock after acquiring an additional 92,600 shares during the period. Wells Fargo & Company MN owned about 0.27% of Halcon Resources worth $2,706,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. bought a new position in Halcon Resources in the second quarter worth approximately $472,000. Vanguard Group Inc. grew its holdings in Halcon Resources by 113.7% in the second quarter. Vanguard Group Inc. now owns 3,296,119 shares of the energy company’s stock worth $14,964,000 after purchasing an additional 1,753,923 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Halcon Resources by 184.5% in the third quarter. Bank of New York Mellon Corp now owns 593,574 shares of the energy company’s stock worth $4,036,000 after purchasing an additional 384,934 shares during the last quarter. Janus Henderson Group PLC purchased a new position in Halcon Resources in the second quarter worth $1,496,000. Finally, QS Investors LLC purchased a new position in Halcon Resources in the second quarter worth $832,000. 94.33% of the stock is owned by hedge funds and other institutional investors.
Halcon Resources Corporation (NYSE:HK) traded down $0.57 on Friday, hitting $7.33. 3,759,240 shares of the company traded hands, compared to its average volume of 2,480,000. Halcon Resources Corporation has a 52-week low of $3.68 and a 52-week high of $9.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.91 and a current ratio of 1.91. The firm has a market cap of $1,100.00, a P/E ratio of 11.11 and a beta of 3.97.
Halcon Resources (NYSE:HK) last released its quarterly earnings results on Thursday, November 9th. The energy company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.11). The company had revenue of $96.95 million for the quarter, compared to analyst estimates of $97.34 million. Halcon Resources had a return on equity of 8.76% and a net margin of 124.30%. The business’s revenue was up 319.6% on a year-over-year basis. sell-side analysts expect that Halcon Resources Corporation will post -0.03 earnings per share for the current year.
HK has been the topic of a number of research analyst reports. Johnson Rice raised shares of Halcon Resources from an “accumulate” rating to a “buy” rating in a report on Wednesday, October 18th. Zacks Investment Research lowered shares of Halcon Resources from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. TheStreet raised shares of Halcon Resources from a “d+” rating to a “c-” rating in a report on Wednesday, November 22nd. Roth Capital set a $13.00 price objective on shares of Halcon Resources and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Finally, Bank of America started coverage on shares of Halcon Resources in a research report on Monday, October 16th. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $9.83.
In other news, major shareholder Franklin Resources Inc sold 1,400,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $6.58, for a total value of $9,212,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 9,622,300 shares of company stock valued at $73,161,634. 53.90% of the stock is owned by 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.
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