Johnson Rice Upgrades Halcon Resources Corporation (HK) to Buy
Halcon Resources Corporation (NYSE:HK) was upgraded by investment analysts at Johnson Rice from an “accumulate” rating to a “buy” rating in a research note issued on Wednesday.
A number of other brokerages also recently issued reports on HK. Zacks Investment Research upgraded shares of Halcon Resources Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. Imperial Capital began coverage on shares of Halcon Resources Corporation in a report on Tuesday, August 1st. They set an “outperform” rating and a $9.00 price target for the company. Roth Capital set a $9.00 price target on shares of Halcon Resources Corporation and gave the stock a “buy” rating in a report on Tuesday, August 1st. Barclays PLC upgraded shares of Halcon Resources Corporation from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $5.00 to $8.00 in a report on Thursday, July 13th. Finally, ValuEngine downgraded shares of Halcon Resources Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $10.00.
Shares of Halcon Resources Corporation (NYSE HK) opened at 6.44 on Wednesday. Halcon Resources Corporation has a 1-year low of $3.68 and a 1-year high of $11.29. The firm has a market capitalization of $924.42 million, a price-to-earnings ratio of 1.51 and a beta of 3.99. The company has a 50-day moving average price of $6.41 and a 200 day moving average price of $6.27.
In other Halcon Resources Corporation news, Director Darryl Schall purchased 10,000 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 35,589 shares of the company’s stock, valued at approximately $222,431.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Franklin Resources Inc sold 305,201 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $6.13, for a total transaction of $1,870,882.13. The disclosure for this sale can be found here. Insiders have sold a total of 8,698,219 shares of company stock valued at $55,285,549 in the last ninety days. 53.90% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of HK. Voya Investment Management LLC purchased a new position in Halcon Resources Corporation in the 2nd quarter valued at approximately $121,000. Cubist Systematic Strategies LLC boosted its position in Halcon Resources Corporation by 107.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 28,744 shares of the energy company’s stock valued at $130,000 after buying an additional 14,864 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Halcon Resources Corporation in the 1st quarter valued at approximately $140,000. Nationwide Fund Advisors purchased a new position in Halcon Resources Corporation in the 2nd quarter valued at approximately $160,000. Finally, Tudor Investment Corp ET AL purchased a new position in Halcon Resources Corporation in the 2nd quarter valued at approximately $172,000. 91.57% of the stock is owned by institutional investors.
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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