Zacks Investment Research upgraded shares of Halcon Resources (NYSE:HK) from a sell rating to a hold rating in a research report released on Wednesday, March 14th.
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. “
HK has been the topic of several other research reports. ValuEngine lowered shares of Halcon Resources from a hold rating to a sell rating in a report on Sunday, December 31st. Bank of America lowered 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. 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. TheStreet upgraded shares of Halcon Resources from a d+ rating to a c- rating in a report on Wednesday, November 22nd. Finally, Imperial Capital restated an outperform rating and issued a $9.00 target price (down previously from $12.00) on shares of Halcon Resources in a report on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $10.29.
Shares of NYSE HK traded down $0.35 during trading on Wednesday, hitting $5.11. 4,565,867 shares of the company traded hands, compared to its average volume of 3,730,519. Halcon Resources has a fifty-two week low of $3.68 and a fifty-two week high of $9.07. The firm has a market capitalization of $810.38, a P/E ratio of -34.07 and a beta of 3.95. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.38.
Halcon Resources (NYSE:HK) last announced its quarterly earnings data on Wednesday, February 28th. The energy company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.07). Halcon Resources had a net margin of 141.73% and a negative return on equity of 2.12%. The company had revenue of $25.28 million for the quarter, compared to analyst estimates of $27.11 million. During the same quarter in the prior year, the company posted $0.66 EPS. Halcon Resources’s revenue for the quarter was down 80.6% on a year-over-year basis. equities research analysts forecast that Halcon Resources will post 0.1 EPS for the current year.
In other news, CEO Floyd C. Wilson acquired 50,000 shares of Halcon Resources stock in a transaction on Friday, March 9th. The stock was acquired at an average cost of $5.22 per share, with a total value of $261,000.00. Following the transaction, the chief executive officer now owns 1,669,486 shares of the company’s stock, valued at approximately $8,714,716.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ares Management Llc acquired 1,113,466 shares of Halcon Resources stock in a transaction on Friday, February 9th. The stock was 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 directly owns 53,114 shares in the company, valued at approximately $366,486.60. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 1,170,466 shares of company stock worth $7,982,275 and sold 4,107,879 shares worth $34,137,077. Corporate insiders own 53.90% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in HK. Alambic Investment Management L.P. bought a new position in shares of Halcon Resources during the 4th quarter valued at approximately $104,000. Amalgamated Bank bought a new position in shares of Halcon Resources during the 3rd quarter valued at approximately $109,000. Voya Investment Management LLC bought a new position in shares of Halcon Resources during the 2nd quarter valued at approximately $121,000. Virtu Financial LLC bought a new position in shares of Halcon Resources during the 4th quarter valued at approximately $121,000. Finally, Gotham Asset Management LLC bought a new position in shares of Halcon Resources during the 4th quarter valued at approximately $124,000. 91.44% of the stock is owned by hedge funds and other institutional investors.
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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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