ValuEngine downgraded shares of Halcon Resources (NYSE:HK) from a hold rating to a sell rating in a research report report published on Thursday morning.
Other equities analysts also recently issued reports about the company. Zacks Investment Research upgraded Halcon Resources from a hold rating to a strong-buy rating and set a $5.00 target price for the company in a research note on Wednesday, October 3rd. Imperial Capital decreased their target price on Halcon Resources from $7.00 to $5.00 and set an outperform rating for the company in a research note on Friday, August 3rd. Bank of America decreased their target price 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. Finally, JPMorgan Chase & Co. began coverage on Halcon Resources in a research note on Wednesday, July 25th. They issued a neutral rating and a $6.00 target price for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $7.54.
Shares of Halcon Resources stock traded down $0.08 during trading hours on Thursday, hitting $3.66. 125,661 shares of the company’s stock traded hands, compared to its average volume of 5,112,195. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $600.85 million, a PE ratio of -24.43 and a beta of 4.05. Halcon Resources has a twelve month low of $3.02 and a twelve month high of $9.07.
In related news, Director Ares Management Llc sold 350,000 shares of the business’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 transaction of $1,365,000.00. Following the sale, the director now owns 86,857 shares of the company’s stock, valued at $338,742.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.70% of the company’s stock.
Large investors have recently made changes to their positions in the stock. AMP Capital Investors Ltd bought a new stake in Halcon Resources during the second quarter worth approximately $101,000. Laurion Capital Management LP bought a new stake in Halcon Resources during the second quarter worth approximately $107,000. California Public Employees Retirement System bought a new position in shares of Halcon Resources in the second quarter valued at $168,000. Guggenheim Capital LLC increased its holdings in shares of Halcon Resources by 111.3% in the first quarter. Guggenheim Capital LLC now owns 54,095 shares of the energy company’s stock valued at $264,000 after buying an additional 28,497 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Halcon Resources by 533.4% in the first quarter. Sei Investments Co. now owns 58,604 shares of the energy company’s stock valued at $285,000 after buying an additional 49,352 shares in the last quarter.
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.
Further Reading: Cost of Capital
To view ValuEngine’s full report, visit ValuEngine’s official website.
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