Halcon Resources (HK) Upgraded to Hold at Zacks Investment Research
Halcon Resources (NYSE:HK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
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 analysts have also commented on the stock. Stephens reiterated a “buy” rating and set a $13.00 price objective on shares of Halcon Resources in a research note on Monday, February 26th. Bank of America lowered their price objective on shares of Halcon Resources from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 7th. TheStreet upgraded shares of Halcon Resources from a “d+” rating to a “c-” rating in a research note on Wednesday, November 22nd. ValuEngine lowered shares of Halcon Resources from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Finally, Roth Capital set a $13.00 price objective on shares of Halcon Resources and gave the company a “buy” rating in a research note on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $10.29.
Halcon Resources (NYSE:HK) last posted its quarterly earnings data on Wednesday, February 28th. The energy company reported ($0.12) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.07). Halcon Resources had a net margin of 141.73% and a negative return on equity of 2.12%. The company had revenue of $25.28 million for the quarter, compared to analyst estimates of $27.11 million. During the same quarter in the prior year, the business earned $0.66 EPS. Halcon Resources’s revenue was down 80.6% compared to the same quarter last year. research analysts expect that Halcon Resources will post 0.12 EPS for the current fiscal year.
In other Halcon Resources news, CEO Floyd C. Wilson purchased 50,000 shares of the firm’s stock in a transaction on Friday, March 9th. The shares were purchased at an average price of $5.22 per share, for a total transaction of $261,000.00. Following the completion of the transaction, the chief executive officer now owns 1,669,486 shares in the company, valued at approximately $8,714,716.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $247,209.84. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 1,170,466 shares of company stock worth $7,982,275 and sold 5,085,383 shares worth $41,942,812. Insiders own 53.90% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its position in Halcon Resources by 2.8% during the 4th quarter. BlackRock Inc. now owns 10,515,424 shares of the energy company’s stock worth $79,603,000 after purchasing an additional 283,008 shares in the last quarter. Anchor Bolt Capital LP purchased a new position in Halcon Resources during the 3rd quarter worth approximately $27,585,000. Vanguard Group Inc. grew its position in Halcon Resources by 113.7% during the 2nd 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 in the last quarter. Renaissance Technologies LLC grew its position in Halcon Resources by 244.2% during the 4th quarter. Renaissance Technologies LLC now owns 2,300,395 shares of the energy company’s stock worth $17,414,000 after purchasing an additional 1,631,995 shares in the last quarter. Finally, Nokomis Capital L.L.C. grew its position in Halcon Resources by 301.0% during the 4th quarter. Nokomis Capital L.L.C. now owns 1,764,486 shares of the energy company’s stock worth $13,357,000 after purchasing an additional 1,324,486 shares in the last quarter. Hedge funds and other institutional investors own 91.44% of the company’s stock.
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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