Zacks Investment Research upgraded shares of Halcon Resources (NYSE:HK) from a sell rating to a hold rating in a report released on Wednesday morning.
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. “
Other equities research analysts have also issued reports about the stock. Roth Capital set a $13.00 target price on shares of Halcon Resources and gave the stock a buy rating in a report on Tuesday, January 16th. Stephens reiterated a buy rating and issued a $13.00 target price on shares of Halcon Resources in a report on Monday, February 26th. TheStreet upgraded shares of Halcon Resources from a d+ rating to a c- rating in a report on Wednesday, November 22nd. Bank of America cut their target price 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. Finally, Imperial Capital reiterated an outperform rating and issued a $9.00 target price (down from $12.00) on shares of Halcon Resources in a report on Friday, March 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Halcon Resources currently has an average rating of Hold and an average price target of $10.29.
Shares of Halcon Resources (HK) opened at $5.30 on Wednesday. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.38. The firm has a market cap of $830.99, a price-to-earnings ratio of 1.44 and a beta of 3.97. Halcon Resources has a twelve month low of $3.68 and a twelve month high of $9.07.
Halcon Resources (NYSE:HK) last posted its earnings results on Wednesday, February 28th. The energy company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.07). The firm had revenue of $25.28 million during the quarter, compared to analyst estimates of $27.11 million. Halcon Resources had a negative return on equity of 2.12% and a net margin of 141.73%. The company’s revenue for the quarter was down 80.6% on a year-over-year basis. During the same quarter last year, the business posted $0.66 earnings per share. sell-side analysts anticipate that Halcon Resources will post 0.12 EPS for the current year.
In related news, CEO Floyd C. Wilson acquired 50,000 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The shares were acquired at an average cost of $5.22 per share, for a total transaction of $261,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,669,486 shares in the company, valued at approximately $8,714,716.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Darryl Schall acquired 7,000 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were bought at an average price of $5.48 per share, for a total transaction of $38,360.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 1,170,466 shares of company stock worth $7,982,275 and have sold 5,085,383 shares worth $41,942,812. Company insiders own 53.90% of the company’s stock.
Several large investors have recently modified their holdings of HK. Alambic Investment Management L.P. acquired a new stake in shares of Halcon Resources during the fourth quarter worth $104,000. Amalgamated Bank acquired a new stake in Halcon Resources in the 3rd quarter valued at $109,000. Voya Investment Management LLC acquired a new stake in Halcon Resources in the 2nd quarter valued at $121,000. Virtu Financial LLC acquired a new stake in Halcon Resources in the 4th quarter valued at $121,000. Finally, Gotham Asset Management LLC acquired a new stake in Halcon Resources in the 4th quarter valued at $124,000. Institutional investors and hedge funds own 91.44% 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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