Zacks Investment Research cut shares of Halcon Resources Corporation (NYSE:HK) from a hold rating to a sell rating in a research report released 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. “

Several other research firms have also commented on HK. ValuEngine raised shares of Halcon Resources Corporation from a buy rating to a strong-buy rating in a research report on Tuesday, May 23rd. Seaport Global Securities reaffirmed a buy rating and set a $10.00 price target on shares of Halcon Resources Corporation in a research report on Tuesday, May 23rd. Scotiabank set a $12.00 price target on shares of Halcon Resources Corporation and gave the company a buy rating in a research report on Tuesday, May 16th. Roth Capital set a $9.00 target price on shares of Halcon Resources Corporation and gave the stock a buy rating in a report on Tuesday, August 1st. Finally, Imperial Capital began coverage on shares of Halcon Resources Corporation in a report on Tuesday, August 1st. They issued an outperform rating and a $9.00 target price for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $9.41.

Halcon Resources Corporation (HK) traded down 2.81% during trading on Tuesday, hitting $6.22. 13,224,318 shares of the stock traded hands. The firm has a 50-day moving average price of $6.21 and a 200 day moving average price of $6.43. The company has a market cap of $892.84 million, a P/E ratio of 1.46 and a beta of 3.95. Halcon Resources Corporation has a 52-week low of $3.69 and a 52-week high of $11.29.

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In related news, major shareholder Franklin Resources Inc sold 425,000 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $6.60, for a total value of $2,805,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Darryl Schall purchased 10,000 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was bought at an average price of $6.25 per share, with a total value of $62,500.00. Following the completion of the transaction, the director now owns 35,589 shares of the company’s stock, valued at $222,431.25. The disclosure for this purchase can be found here. Insiders have sold a total of 2,919,797 shares of company stock valued at $18,098,100 over the last quarter. Corporate insiders own 53.90% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of HK. UBS Oconnor LLC bought a new stake in Halcon Resources Corporation in the first quarter worth $30,285,000. Boston Partners increased its stake in Halcon Resources Corporation by 1,388.1% in the second quarter. Boston Partners now owns 3,863,260 shares of the energy company’s stock worth $17,539,000 after purchasing an additional 3,603,645 shares during the period. Point72 Asset Management L.P. purchased a new stake in Halcon Resources Corporation in the first quarter worth $17,949,000. Citadel Advisors LLC increased its stake in Halcon Resources Corporation by 7,058.2% in the first quarter. Citadel Advisors LLC now owns 2,142,313 shares of the energy company’s stock worth $16,496,000 after purchasing an additional 2,112,385 shares during the period. Finally, Vanguard Group Inc. increased its stake in Halcon Resources Corporation by 113.7% in the second quarter. Vanguard Group Inc. now owns 3,296,119 shares of the energy company’s stock worth $14,964,000 after purchasing an additional 1,753,923 shares during the period. Institutional investors own 91.57% 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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