Halcon Resources (HK) Shares Gap Up to $1.84

Shares of Halcon Resources Corp (NYSE:HK) gapped up prior to trading on Friday . The stock had previously closed at $1.78, but opened at $1.84. Halcon Resources shares last traded at $1.91, with a volume of 2691013 shares trading hands.

HK has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Halcon Resources from a “hold” rating to a “buy” rating and set a $4.25 target price on the stock in a research report on Wednesday, November 7th. Imperial Capital set a $6.00 target price on Halcon Resources and gave the stock a “buy” rating in a research report on Friday, November 2nd. Seaport Global Securities downgraded Halcon Resources from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $6.00 to $3.00 in a research report on Monday, December 10th. ValuEngine downgraded Halcon Resources from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Finally, Bank of America downgraded Halcon Resources from a “neutral” rating to an “underperform” rating in a research report on Friday, January 4th. Five analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $5.38.

The company has a debt-to-equity ratio of 0.64, a current ratio of 0.33 and a quick ratio of 0.33.

Halcon Resources (NYSE:HK) last released its quarterly earnings results on Wednesday, November 7th. The energy company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.01). The company had revenue of $61.60 million during the quarter, compared to analyst estimates of $58.33 million. Halcon Resources had a negative return on equity of 1.05% and a negative net margin of 101.20%. The business’s revenue was down 36.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.06) earnings per share. Equities analysts anticipate that Halcon Resources Corp will post -0.04 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the business. Wilks Brothers LLC increased its stake in Halcon Resources by 31.4% during the third quarter. Wilks Brothers LLC now owns 15,156,067 shares of the energy company’s stock worth $67,748,000 after acquiring an additional 3,625,800 shares during the last quarter. BlackRock Inc. increased its stake in Halcon Resources by 6.2% during the second quarter. BlackRock Inc. now owns 11,234,185 shares of the energy company’s stock worth $49,318,000 after acquiring an additional 658,502 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Halcon Resources by 14.7% during the third quarter. Dimensional Fund Advisors LP now owns 6,289,008 shares of the energy company’s stock worth $28,112,000 after acquiring an additional 805,359 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Halcon Resources by 8.9% in the third quarter. JPMorgan Chase & Co. now owns 3,986,822 shares of the energy company’s stock worth $17,821,000 after buying an additional 324,836 shares during the period. Finally, Luminus Management LLC boosted its position in shares of Halcon Resources by 44.4% in the third quarter. Luminus Management LLC now owns 3,546,629 shares of the energy company’s stock worth $15,853,000 after buying an additional 1,089,929 shares during the period.

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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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