Halcon Resources Co. (NYSE:HK) – Investment analysts at Capital One Financial decreased their FY2018 earnings estimates for Halcon Resources in a report issued on Monday. Capital One Financial analyst B. Velie now forecasts that the energy company will post earnings of $0.22 per share for the year, down from their previous estimate of $0.27.
A number of other brokerages have also issued reports on HK. Zacks Investment Research upgraded Halcon Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. TheStreet upgraded Halcon Resources from a “d+” rating to a “c-” rating in a research report on Wednesday, November 22nd. Roth Capital set a $13.00 target price on Halcon Resources and gave the company a “buy” rating in a research report on Tuesday, January 16th. ValuEngine lowered Halcon Resources from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Finally, Bank of America increased their target price on Halcon Resources from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, November 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.83.
Shares of Halcon Resources (NYSE HK) traded down $0.17 during trading hours on Wednesday, hitting $6.84. The stock had a trading volume of 1,385,471 shares, compared to its average volume of 3,303,326. Halcon Resources has a 52-week low of $3.68 and a 52-week high of $9.50. The stock has a market cap of $1,100.00, a price-to-earnings ratio of 1.73 and a beta of 3.97. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.35.
In other news, major shareholder Franklin Resources Inc sold 198,357 shares of Halcon Resources stock in a transaction on Monday, November 27th. The stock was sold at an average price of $6.97, for a total transaction of $1,382,548.29. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ares Management Llc purchased 1,113,466 shares of Halcon Resources stock in a transaction dated Friday, February 9th. The shares were bought at an average price of $6.90 per share, for a total transaction of $7,682,915.40. Following the acquisition, the director now owns 53,114 shares in the company, valued at $366,486.60. The disclosure for this purchase can be found here. Insiders sold a total of 6,247,483 shares of company stock worth $50,187,886 in the last 90 days. 53.90% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of HK. Schwab Charles Investment Management Inc. purchased a new position in shares of Halcon Resources during the 2nd quarter worth $472,000. Bank of New York Mellon Corp raised its holdings in shares of Halcon Resources by 824.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 208,640 shares of the energy company’s stock worth $947,000 after acquiring an additional 186,081 shares during the period. Swiss National Bank purchased a new position in shares of Halcon Resources during the 2nd quarter worth $281,000. Alliancebernstein L.P. raised its holdings in shares of Halcon Resources by 59.8% during the 2nd quarter. Alliancebernstein L.P. now owns 442,678 shares of the energy company’s stock worth $2,010,000 after acquiring an additional 165,651 shares during the period. Finally, Teachers Advisors LLC purchased a new position in shares of Halcon Resources during the 2nd quarter worth $491,000. Institutional investors and hedge funds 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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