Halcon Resources (HK) Lowered to Sell at Zacks Investment Research

Halcon Resources (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 Thursday, January 25th.

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. “

A number of other analysts have also commented on the company. Bank of America initiated coverage on Halcon Resources in a report on Monday, October 16th. They issued a “neutral” rating on the stock. Johnson Rice raised Halcon Resources from an “accumulate” rating to a “buy” rating in a research report on Wednesday, October 18th. Roth Capital set a $9.00 price target on Halcon Resources and gave the stock a “buy” rating in a research report on Friday, October 20th. ValuEngine downgraded Halcon Resources from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Finally, TheStreet raised Halcon Resources from a “d+” rating to a “c-” rating in a research report on Wednesday, November 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $9.83.

Halcon Resources (HK) opened at $7.35 on Thursday. 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 capitalization of $1,110.00, a PE ratio of 1.82 and a beta of 3.97. Halcon Resources has a twelve month low of $3.68 and a twelve month high of $9.61.

In other Halcon Resources news, major shareholder Franklin Resources Inc sold 1,012,581 shares of the company’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $8.53, for a total transaction of $8,637,315.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 7,647,483 shares of company stock valued at $59,399,886 over the last 90 days. Corporate insiders own 53.90% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Halcon Resources by 2.8% in the 4th quarter. BlackRock Inc. now owns 10,515,424 shares of the energy company’s stock valued at $79,603,000 after acquiring an additional 283,008 shares during the last quarter. Anchor Bolt Capital LP acquired a new stake in Halcon Resources in the third quarter valued at $27,585,000. Vanguard Group Inc. increased 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 valued at $14,964,000 after purchasing an additional 1,753,923 shares during the period. Senvest Management LLC acquired a new stake in Halcon Resources in the third quarter valued at $10,098,000. Finally, Dimensional Fund Advisors LP acquired a new stake in Halcon Resources in the third quarter valued at $8,515,000. Institutional investors own 94.45% of the company’s stock.

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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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