Halcon Resources Co. (NYSE:HK) – Equities research analysts at Capital One Financial upped their FY2018 earnings estimates for shares of Halcon Resources in a report issued on Tuesday, according to Zacks Investment Research. Capital One Financial analyst B. Velie now forecasts that the energy company will post earnings of $0.27 per share for the year, up from their previous estimate of $0.05.
HK has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Halcon Resources from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. TheStreet upgraded shares of Halcon Resources from a “d+” rating to a “c-” rating in a report on Wednesday, November 22nd. ValuEngine lowered shares of Halcon Resources from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Roth Capital set a $9.00 price target on shares of Halcon Resources and gave the company a “buy” rating in a report on Friday, October 20th. Finally, Bank of America cut their price target on shares of Halcon Resources from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $9.83.
Halcon Resources (NYSE:HK) traded down $0.20 during midday trading on Thursday, hitting $6.81. 2,584,571 shares of the company were exchanged, compared to its average volume of 3,842,969. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.91 and a quick ratio of 1.91. Halcon Resources has a twelve month low of $3.68 and a twelve month high of $9.56. The company has a market cap of $1,103.42, a P/E ratio of 1.70 and a beta of 3.97.
A number of institutional investors and hedge funds have recently made changes to their positions in HK. Schwab Charles Investment Management Inc. purchased a new position in Halcon Resources during the second quarter valued at approximately $472,000. Bank of New York Mellon Corp grew its position in Halcon Resources by 824.9% in the second 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 in the last quarter. Swiss National Bank bought a new stake in Halcon Resources in the second quarter worth approximately $281,000. Alliancebernstein L.P. grew its position in Halcon Resources by 59.8% in the second 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 in the last quarter. Finally, Teachers Advisors LLC bought a new stake in Halcon Resources in the second quarter worth approximately $491,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Ares Management Llc acquired 1,113,466 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average cost of $6.90 per share, with a total value of $7,682,915.40. Following the completion of the transaction, the director now owns 53,114 shares of the company’s stock, valued at approximately $366,486.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Franklin Resources Inc sold 198,357 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $6.97, for a total transaction of $1,382,548.29. The disclosure for this sale can be found here. Insiders have sold 6,247,483 shares of company stock worth $50,187,886 in the last 90 days. 53.90% of the stock is owned by company insiders.
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About Halcon Resources
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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