Halcon Resources Corporation (NYSE:HK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.
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. “
A number of other research analysts have also commented on the stock. Bank of America Corporation raised their price objective on shares of Halcon Resources Corporation from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday. Roth Capital set a $9.00 price objective on shares of Halcon Resources Corporation and gave the company a “buy” rating in a research note on Friday, October 20th. Johnson Rice upgraded shares of Halcon Resources Corporation from an “accumulate” rating to a “buy” rating in a research note on Wednesday, October 18th. Seaport Global Securities upgraded shares of Halcon Resources Corporation from a “neutral” rating to a “buy” rating and raised their price objective for the company from $7.00 to $8.00 in a research note on Tuesday, October 17th. Finally, ValuEngine lowered shares of Halcon Resources Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $9.88.
Shares of Halcon Resources Corporation (NYSE:HK) traded up $0.31 during trading hours on Tuesday, hitting $7.09. 3,736,800 shares of the company’s stock traded hands, compared to its average volume of 2,501,703. Halcon Resources Corporation has a 12 month low of $3.68 and a 12 month high of $11.29. The firm has a market capitalization of $1,014.26, a price-to-earnings ratio of 10.27 and a beta of 4.01. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.35.
Halcon Resources Corporation (NYSE:HK) last posted its quarterly earnings data on Thursday, November 9th. The energy company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.11). Halcon Resources Corporation had a net margin of 124.30% and a return on equity of 8.76%. The company had revenue of $96.95 million for the quarter, compared to analyst estimates of $97.34 million. The company’s revenue was up 319.6% compared to the same quarter last year. sell-side analysts anticipate that Halcon Resources Corporation will post 0.07 EPS for the current fiscal year.
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In related news, major shareholder Franklin Resources Inc sold 494,899 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $6.15, for a total transaction of $3,043,628.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 9,767,835 shares of company stock valued at $62,958,415 over the last 90 days. 53.90% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of HK. Bank of New York Mellon Corp acquired a new position in Halcon Resources Corporation in the 1st quarter worth approximately $174,000. UBS Asset Management Americas Inc. boosted its stake in Halcon Resources Corporation by 51.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 108,911 shares of the energy company’s stock worth $839,000 after purchasing an additional 36,901 shares during the period. Wellington Management Group LLP acquired a new position in Halcon Resources Corporation in the 1st quarter worth approximately $1,139,000. Vanguard Group Inc. boosted its stake in Halcon Resources Corporation by 25.6% in the 1st quarter. Vanguard Group Inc. now owns 1,542,196 shares of the energy company’s stock worth $11,875,000 after purchasing an additional 314,072 shares during the period. Finally, Goldman Sachs Group Inc. acquired a new position in Halcon Resources Corporation in the 1st quarter worth approximately $1,836,000. Hedge funds and other institutional investors own 89.40% of the company’s stock.
Halcon Resources Corporation Company Profile
Halcon Resources Corporation is an independent energy company focused on the acquisition, production, exploration and development of onshore liquids-rich oil and natural gas assets in the United States. The Company’s estimated total proved oil and natural gas reserves are approximately 146.8 million barrels of oil equivalent (MMBoe), consisting of over 120.7 million barrels of oil (MMBbls), approximately 13.0 MMBbls of natural gas liquids and over 78.4 billion cubic feet (Bcf) of natural gas.
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