Zacks Investment Research downgraded shares of Halcon Resources (NYSE:HK) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.
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. “
Several other equities analysts also recently commented on the company. ValuEngine upgraded Halcon Resources from a sell rating to a hold rating in a research note on Thursday, August 2nd. Bank of America dropped their price objective 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. JPMorgan Chase & Co. started coverage on Halcon Resources in a research note on Wednesday, July 25th. They issued a neutral rating and a $6.00 price objective on the stock. Finally, Imperial Capital dropped their price objective 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $7.54.
Halcon Resources stock opened at $3.70 on Friday. Halcon Resources has a 12 month low of $3.02 and a 12 month high of $9.07. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $600.85 million, a P/E ratio of -24.67 and a beta of 4.05.
In related news, Director Ares Management Llc sold 350,000 shares of the company’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 owns 86,857 shares in the company, valued at $338,742.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.70% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the business. AMP Capital Investors Ltd purchased a new stake in shares of Halcon Resources during the second quarter worth $101,000. Laurion Capital Management LP purchased a new stake in shares of Halcon Resources during the second quarter worth $107,000. California Public Employees Retirement System purchased a new stake in shares of Halcon Resources during the second quarter worth $168,000. Guggenheim Capital LLC lifted its position in shares of Halcon Resources by 111.3% during the first quarter. Guggenheim Capital LLC now owns 54,095 shares of the energy company’s stock worth $264,000 after acquiring an additional 28,497 shares in the last quarter. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of Halcon Resources during the second quarter worth $274,000.
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.
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