Zacks Investment Research upgraded shares of Halcon Resources Corporation (NYSE:HK) from a sell rating to a hold rating in a report published 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. “
A number of other analysts have also weighed in on the company. Bank of America Corporation increased their target price on Halcon Resources Corporation from $8.00 to $9.00 and gave the stock a neutral rating in a research note on Friday, November 10th. Roth Capital set a $9.00 target price on Halcon Resources Corporation and gave the stock a buy rating in a research note on Friday, October 20th. Johnson Rice upgraded Halcon Resources Corporation from an accumulate rating to a buy rating in a research note on Wednesday, October 18th. Seaport Global Securities upgraded Halcon Resources Corporation from a neutral rating to a buy rating and raised their price target for the company from $7.00 to $8.00 in a research note on Tuesday, October 17th. Finally, ValuEngine lowered Halcon Resources Corporation from a buy rating to a hold rating in a research note on Friday, September 1st. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $9.88.
Shares of Halcon Resources Corporation (NYSE HK) opened at $6.94 on Tuesday. The stock has a market capitalization of $1,038.20, a price-to-earnings ratio of 10.52 and a beta of 4.01. Halcon Resources Corporation has a 52-week low of $3.68 and a 52-week high of $10.60. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.91 and a quick ratio of 1.91.
Halcon Resources Corporation (NYSE:HK) last issued its quarterly earnings results on Thursday, November 9th. The energy company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.11). Halcon Resources Corporation had a return on equity of 8.76% and a net margin of 124.30%. The company had revenue of $96.95 million during the quarter, compared to the consensus estimate of $97.34 million. The business’s revenue was up 319.6% compared to the same quarter last year. analysts anticipate that Halcon Resources Corporation will post 0.03 EPS for the current year.
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In other Halcon Resources Corporation news, major shareholder Franklin Resources Inc sold 175,000 shares of Halcon Resources Corporation stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $7.07, for a total value of $1,237,250.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 10,288,237 shares of company stock worth $67,325,585 in the last quarter. 53.90% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. GSA Capital Partners LLP boosted its holdings in Halcon Resources Corporation by 357.0% in the third quarter. GSA Capital Partners LLP now owns 287,740 shares of the energy company’s stock worth $1,957,000 after acquiring an additional 224,774 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in Halcon Resources Corporation by 35.8% in the third quarter. Cubist Systematic Strategies LLC now owns 39,039 shares of the energy company’s stock worth $265,000 after acquiring an additional 10,295 shares in the last quarter. Vident Investment Advisory LLC acquired a new stake in Halcon Resources Corporation in the third quarter worth about $2,512,000. Anchor Bolt Capital LP acquired a new stake in Halcon Resources Corporation in the third quarter worth about $27,585,000. Finally, Senvest Management LLC acquired a new stake in Halcon Resources Corporation in the third quarter worth about $10,098,000. 81.85% of the stock is owned by institutional investors and hedge funds.
About Halcon Resources Corporation
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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