ValuEngine Downgrades Halcon Resources (HK) to Strong Sell

Halcon Resources (NYSE:HK) was downgraded by equities researchers at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued on Thursday.

A number of other equities analysts have also commented on HK. Zacks Investment Research lowered shares of Halcon Resources from a “hold” rating to a “sell” rating in a research report on Thursday, January 25th. Bank of America decreased 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. Stephens reissued a “buy” rating and issued a $13.00 target price on shares of Halcon Resources in a report on Monday, February 26th. Imperial Capital reissued 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. Finally, TheStreet lowered shares of Halcon Resources from a “c-” rating to a “d+” rating in a report on Tuesday, March 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $9.50.

Halcon Resources opened at $5.57 on Thursday, MarketBeat Ratings reports. Halcon Resources has a 52 week low of $3.68 and a 52 week high of $9.07. The stock has a market cap of $791.06 million, a P/E ratio of -37.13 and a beta of 3.95. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.20 and a current ratio of 3.20.

Halcon Resources (NYSE:HK) last released its quarterly earnings results on Wednesday, May 2nd. The energy company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Halcon Resources had a negative return on equity of 3.42% and a net margin of 117.87%. The business had revenue of $49.30 million for the quarter, compared to the consensus estimate of $44.34 million. During the same period in the prior year, the business posted $0.06 earnings per share. Halcon Resources’s revenue was down 63.6% compared to the same quarter last year. equities research analysts anticipate that Halcon Resources will post 0.04 earnings per share for the current year.

In related news, CEO Floyd C. Wilson purchased 50,000 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The shares were bought at an average cost of $5.22 per share, with a total value of $261,000.00. Following the acquisition, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Darryl Schall purchased 7,000 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The shares were bought at an average cost of $5.48 per share, for a total transaction of $38,360.00. The disclosure for this purchase can be found here. 3.70% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in the stock. Highbridge Capital Management LLC bought a new stake in shares of Halcon Resources during the 1st quarter valued at approximately $891,000. Millennium Management LLC grew its holdings in shares of Halcon Resources by 57.1% during the 1st quarter. Millennium Management LLC now owns 5,561,127 shares of the energy company’s stock valued at $27,083,000 after purchasing an additional 2,021,349 shares during the last quarter. Meghalaya Partners L.P. grew its holdings in shares of Halcon Resources by 463.6% during the 1st quarter. Meghalaya Partners L.P. now owns 1,950,000 shares of the energy company’s stock valued at $9,497,000 after purchasing an additional 1,604,020 shares during the last quarter. Wexford Capital LP grew its holdings in shares of Halcon Resources by 255.7% during the 1st quarter. Wexford Capital LP now owns 1,138,558 shares of the energy company’s stock valued at $5,545,000 after purchasing an additional 818,483 shares during the last quarter. Finally, Nokomis Capital L.L.C. grew its holdings in shares of Halcon Resources by 48.4% during the 1st quarter. Nokomis Capital L.L.C. now owns 2,619,353 shares of the energy company’s stock valued at $12,756,000 after purchasing an additional 854,867 shares during the last quarter. 92.10% of the stock is currently owned by institutional investors.

Halcon Resources Company Profile

Halcón Resources Corporation, an independent energy company, engages in the acquisition, production, exploration, and development of onshore oil and natural gas assets in the United States. As of February 28, 2018, the company held interests in 21,679 net acres in the Monument Draw area of the Delaware Basin, located in Pecos and Reeves Counties, Texas; and 27,035 net acres in the Hackberry Draw area of the Delaware Basin, located in Pecos and Reeves Counties, Texas.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Halcon Resources (NYSE:HK)

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