Halcon Resources Corp (NYSE:HK) gapped up before the market opened on Friday . The stock had previously closed at $3.92, but opened at $3.82. Halcon Resources shares last traded at $3.73, with a volume of 182015 shares.
A number of equities research analysts have recently weighed in on the company. Imperial Capital set a $6.00 price target on Halcon Resources and gave the stock a “buy” rating in a research note on Friday. Zacks Investment Research raised Halcon Resources from a “hold” rating to a “buy” rating and set a $4.25 price target for the company in a research note on Wednesday, October 24th. ValuEngine downgraded Halcon Resources from a “hold” rating to a “sell” rating in a research note on Thursday. JPMorgan Chase & Co. assumed coverage on Halcon Resources in a research note on Wednesday, July 25th. They set a “neutral” rating and a $6.00 price target for the company. Finally, Bank of America cut their price target on Halcon Resources from $9.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $7.54.
The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.55. The company has a market cap of $525.34 million, a price-to-earnings ratio of -25.00 and a beta of 4.29.
Halcon Resources (NYSE:HK) last issued its quarterly earnings data on Wednesday, August 1st. The energy company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.18. Halcon Resources had a negative return on equity of 1.03% and a net margin of 135.43%. The business had revenue of $55.40 million for the quarter, compared to the consensus estimate of $56.07 million. The firm’s revenue was down 53.9% compared to the same quarter last year. Equities analysts anticipate that Halcon Resources Corp will post -0.01 EPS for the current year.
In related news, Director Ares Management Llc sold 350,000 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $3.90, for a total value of $1,365,000.00. Following the transaction, the director now directly owns 86,857 shares of the company’s stock, valued at approximately $338,742.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.70% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of HK. First Trust Advisors LP grew its holdings in Halcon Resources by 62.5% in the 2nd quarter. First Trust Advisors LP now owns 496,749 shares of the energy company’s stock valued at $2,181,000 after buying an additional 190,968 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in Halcon Resources in the 2nd quarter valued at approximately $274,000. TCW Group Inc. grew its holdings in Halcon Resources by 65.6% in the 2nd quarter. TCW Group Inc. now owns 392,100 shares of the energy company’s stock valued at $1,722,000 after buying an additional 155,300 shares during the last quarter. BlackRock Inc. grew its holdings in Halcon Resources by 6.2% in the 2nd quarter. BlackRock Inc. now owns 11,234,185 shares of the energy company’s stock valued at $49,318,000 after buying an additional 658,502 shares during the last quarter. Finally, Sanders Morris Harris LLC grew its holdings in Halcon Resources by 41.9% in the 3rd quarter. Sanders Morris Harris LLC now owns 878,551 shares of the energy company’s stock valued at $3,928,000 after buying an additional 259,500 shares during the last quarter.
About Halcon Resources (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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