Halcon Resources Co. (HK) Shares Sold by Franklin Resources Inc.
Franklin Resources Inc. trimmed its holdings in Halcon Resources Co. (NYSE:HK) by 28.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,919,605 shares of the energy company’s stock after selling 8,103,331 shares during the period. Franklin Resources Inc. owned 0.13% of Halcon Resources worth $147,943,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Halcon Resources by 2.8% in the 4th quarter. BlackRock Inc. now owns 10,515,424 shares of the energy company’s stock valued at $79,603,000 after purchasing an additional 283,008 shares in the last quarter. Anchor Bolt Capital LP acquired a new position in shares of Halcon Resources in the 3rd quarter valued at about $27,585,000. Vanguard Group Inc. lifted its stake in shares of Halcon Resources by 113.7% in the 2nd quarter. Vanguard Group Inc. now owns 3,296,119 shares of the energy company’s stock valued at $14,964,000 after purchasing an additional 1,753,923 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Halcon Resources by 244.2% in the 4th quarter. Renaissance Technologies LLC now owns 2,300,395 shares of the energy company’s stock valued at $17,414,000 after purchasing an additional 1,631,995 shares in the last quarter. Finally, Senvest Management LLC acquired a new position in shares of Halcon Resources in the 3rd quarter valued at about $10,098,000. 91.44% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Halcon Resources Co. (NYSE:HK) opened at $5.43 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.14 and a current ratio of 3.14. Halcon Resources Co. has a twelve month low of $3.68 and a twelve month high of $9.07.
In other Halcon Resources news, Director Ares Management Llc acquired 1,113,466 shares of the company’s stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $6.90 per share, for a total transaction of $7,682,915.40. Following the acquisition, the director now directly owns 53,114 shares of the company’s stock, valued at $366,486.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Franklin Resources Inc sold 32,022 shares of Halcon Resources stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $7.72, for a total value of $247,209.84. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 1,170,466 shares of company stock worth $7,982,275 and have sold 5,085,383 shares worth $41,942,812. Company insiders own 53.90% of the company’s stock.
Several equities analysts have recently weighed in on the company. Zacks Investment Research raised Halcon Resources from a “sell” rating to a “hold” rating in a research note on Wednesday. Imperial Capital reaffirmed an “outperform” rating and issued a $9.00 price objective (down from $12.00) on shares of Halcon Resources in a research note on Friday, March 2nd. ValuEngine lowered Halcon Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. Roth Capital set a $13.00 price objective on Halcon Resources and gave the company a “buy” rating in a research note on Tuesday, January 16th. Finally, TheStreet upgraded Halcon Resources from a “d+” rating to a “c-” rating in a report on Wednesday, November 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $10.29.
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About Halcon Resources
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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