Zacks Investment Research upgraded shares of Halcon Resources (NYSE:HK) from a hold rating to a buy rating in a report published on Wednesday. Zacks Investment Research currently has $4.25 target price on the energy company’s stock.
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. “
HK has been the topic of several other reports. Imperial Capital set a $6.00 price target on shares of Halcon Resources and gave the stock a buy rating in a research note on Friday, November 2nd. JPMorgan Chase & Co. initiated coverage on shares of Halcon Resources in a research note on Wednesday, July 25th. They set a neutral rating and a $6.00 price target on the stock. ValuEngine lowered shares of Halcon Resources from a hold rating to a sell rating in a research note on Thursday, November 1st. Finally, Bank of America dropped their price objective on shares of 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 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. Halcon Resources currently has a consensus rating of Hold and a consensus target price of $7.54.
Shares of NYSE:HK opened at $3.31 on Wednesday. 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 firm has a market cap of $613.70 million, a P/E ratio of -22.07 and a beta of 4.05.
Halcon Resources (NYSE:HK) last announced its quarterly earnings results on Wednesday, November 7th. The energy company reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.01). Halcon Resources had a negative return on equity of 1.04% and a negative net margin of 101.20%. The company had revenue of $61.60 million for the quarter, compared to analyst estimates of $58.33 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. Halcon Resources’s revenue was down 36.5% compared to the same quarter last year. Equities analysts expect that Halcon Resources will post -0.01 EPS for the current fiscal year.
In other Halcon Resources news, Director Ares Management Llc sold 350,000 shares of Halcon Resources stock in a transaction on Monday, August 13th. The shares were 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 in the company, valued at $338,742.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of HK. Guggenheim Capital LLC increased its stake in 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 purchasing an additional 28,497 shares during the period. Bank of Montreal Can acquired a new position in shares of Halcon Resources during the second quarter worth about $403,000. Nisa Investment Advisors LLC acquired a new position in shares of Halcon Resources during the second quarter worth about $274,000. Eidelman Virant Capital acquired a new position in shares of Halcon Resources during the second quarter worth about $3,169,000. Finally, Malaga Cove Capital LLC acquired a new position in shares of Halcon Resources during the second quarter worth about $640,000.
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.
Further Reading: Outstanding Shares and The Effect on Share Price
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