Halcon Resources Corporation (NYSE:HK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” 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. “
HK has been the subject of a number of other reports. Roth Capital set a $9.00 price target on shares of Halcon Resources Corporation and gave the company a “buy” rating in a report on Tuesday, August 1st. ValuEngine raised shares of Halcon Resources Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 23rd. BidaskClub raised shares of Halcon Resources Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Imperial Capital started coverage on shares of Halcon Resources Corporation in a report on Tuesday, August 1st. They issued an “outperform” rating and a $9.00 price target for the company. Finally, Barclays PLC reissued a “sell” rating and issued a $5.00 price target on shares of Halcon Resources Corporation in a report on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $9.41.
Halcon Resources Corporation (HK) traded up 4.35% during midday trading on Tuesday, hitting $6.24. 2,781,988 shares of the stock traded hands. Halcon Resources Corporation has a 1-year low of $3.69 and a 1-year high of $11.38. The company has a 50-day moving average of $6.27 and a 200-day moving average of $6.46. The stock has a market cap of $895.71 million, a PE ratio of 1.47 and a beta of 3.95.
In other news, Director Darryl Schall bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was acquired at an average price of $6.25 per share, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Franklin Resources Inc sold 746,173 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $6.07, for a total transaction of $4,529,270.11. The disclosure for this sale can be found here. Insiders have sold a total of 2,530,972 shares of company stock valued at $15,462,982 over the last ninety days. 53.90% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Clinton Group Inc. acquired a new stake in shares of Halcon Resources Corporation during the 1st quarter worth about $119,000. Voya Investment Management LLC acquired a new stake in shares of Halcon Resources Corporation during the 2nd quarter worth about $121,000. Cubist Systematic Strategies LLC increased its position in shares of Halcon Resources Corporation by 107.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 28,744 shares of the energy company’s stock worth $130,000 after purchasing an additional 14,864 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Halcon Resources Corporation during the 1st quarter worth about $140,000. Finally, Nationwide Fund Advisors acquired a new stake in shares of Halcon Resources Corporation during the 2nd quarter worth about $160,000. Institutional investors and hedge funds 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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