Shares of Halcon Resources Corp (NYSE:HK) shot up 15.1% during trading on Thursday . The stock traded as high as $3.83 and last traded at $3.82. 8,746,691 shares changed hands during trading, an increase of 106% from the average session volume of 4,239,463 shares. The stock had previously closed at $3.32.
Several brokerages have commented on HK. ValuEngine downgraded Halcon Resources from a “hold” rating to a “sell” rating in a research note on Thursday. Imperial Capital dropped their price target on Halcon Resources from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday, August 3rd. JPMorgan Chase & Co. assumed coverage on Halcon Resources in a research note on Wednesday, July 25th. They issued a “neutral” rating and a $6.00 price target on the stock. Zacks Investment Research downgraded Halcon Resources from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 11th. Finally, Bank of America dropped their price target on Halcon Resources from $9.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $7.38.
The company has a market capitalization of $525.34 million, a PE ratio of -25.47 and a beta of 4.29. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.55.
Halcon Resources (NYSE:HK) last released its quarterly earnings results on Wednesday, August 1st. The energy company reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.18. The firm had revenue of $55.40 million for the quarter, compared to the consensus estimate of $56.07 million. Halcon Resources had a negative return on equity of 1.03% and a net margin of 135.43%. The firm’s revenue for the quarter was down 53.9% on a year-over-year basis. As a group, analysts forecast that Halcon Resources Corp will post -0.01 EPS for the current year.
In other news, Director Ares Management Llc sold 986,276 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $3.82, for a total value of $3,767,574.32. Following the transaction, the director now directly owns 86,857 shares in the company, valued at approximately $331,793.74. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.70% of the company’s stock.
A number of institutional investors have recently made changes to their positions in HK. Dimensional Fund Advisors LP raised its holdings in Halcon Resources by 163.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,142,345 shares of the energy company’s stock worth $25,043,000 after purchasing an additional 3,191,887 shares during the period. Luminus Management LLC bought a new position in Halcon Resources in the 2nd quarter worth $10,785,000. Formula Growth Ltd. bought a new position in Halcon Resources in the 2nd quarter worth $7,320,000. Selz Capital LLC bought a new position in Halcon Resources in the 3rd quarter worth $6,481,000. Finally, Point72 Asset Management L.P. bought a new position in Halcon Resources in the 2nd quarter worth $4,293,000.
Halcon Resources Company Profile (NYSE:HK)
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.
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