Halcon Resources Co. (HK) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Halcon Resources Co. (NYSE:HK) from a sell rating to a hold rating in a research note issued to investors 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 firms have also recently weighed in on HK. Barclays PLC reiterated a sell rating and set a $9.00 price objective on shares of Halcon Resources in a research report on Friday, March 3rd. Scotiabank reiterated a buy rating and set a $11.00 price objective on shares of Halcon Resources in a research report on Monday, March 27th. Capital One Financial Corp. upgraded shares of Halcon Resources from an equal weight rating to an overweight rating in a research report on Wednesday, January 25th. Roth Capital set a $14.00 price objective on shares of Halcon Resources and gave the company a buy rating in a research report on Thursday, May 4th. Finally, Johnson Rice upgraded shares of Halcon Resources from a hold rating to an accumulate rating in a research report on Wednesday, March 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Halcon Resources currently has a consensus rating of Hold and an average target price of $11.21.
Halcon Resources (NYSE:HK) traded up 5.28% during trading on Tuesday, hitting $6.98. 399,210 shares of the company traded hands. The company’s 50 day moving average is $7.06 and its 200-day moving average is $8.28. Halcon Resources has a 52 week low of $6.32 and a 52 week high of $19.31. The stock has a market capitalization of $637.09 million, a PE ratio of 2.99 and a beta of 3.42.
Halcon Resources (NYSE:HK) last released its quarterly earnings results on Wednesday, May 3rd. The energy company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.03. The company had revenue of $135.60 million for the quarter, compared to the consensus estimate of $144.13 million. Halcon Resources had a negative net margin of 538.20% and a negative return on equity of 42.63%. Analysts predict that Halcon Resources will post $0.27 earnings per share for the current year.
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In other news, major shareholder Franklin Resources Inc sold 31,341 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $6.73, for a total value of $210,924.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 22.00% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. WFG Advisors LP boosted its position in shares of Halcon Resources by 3,894.0% in the fourth quarter. WFG Advisors LP now owns 2,676 shares of the energy company’s stock valued at $100,000 after buying an additional 2,609 shares during the last quarter. Clinton Group Inc. acquired a new position in shares of Halcon Resources during the first quarter valued at about $119,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Halcon Resources during the first quarter valued at about $140,000. Koch Industries Inc. acquired a new position in shares of Halcon Resources during the fourth quarter valued at about $185,000. Finally, Sanders Morris Harris Inc. acquired a new position in shares of Halcon Resources during the first quarter valued at about $159,000. Institutional investors own 84.82% of the company’s stock.
Halcon Resources 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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