A number of other equities analysts have also recently commented on HK. ValuEngine cut Halcon Resources from a hold rating to a sell rating in a report on Sunday, December 31st. Bank of America assumed coverage on Halcon Resources in a report on Monday, October 16th. They set a neutral rating for the company. Zacks Investment Research upgraded Halcon Resources from a sell rating to a hold rating in a report on Wednesday, October 4th. Johnson Rice upgraded Halcon Resources from an accumulate rating to a buy rating in a report on Wednesday, October 18th. Finally, TheStreet upgraded Halcon Resources from a d+ rating to a c- rating in a report on Wednesday, November 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. Halcon Resources presently has an average rating of Buy and an average target price of $10.14.
Halcon Resources (NYSE HK) traded down $0.02 during midday trading on Tuesday, hitting $8.04. The stock had a trading volume of 1,510,000 shares, compared to its average volume of 2,450,000. The stock has a market cap of $1,210.00, a PE ratio of 2.01 and a beta of 4.04. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.35. Halcon Resources has a fifty-two week low of $3.68 and a fifty-two week high of $10.30.
Halcon Resources (NYSE:HK) last released its quarterly earnings results on Thursday, November 9th. The energy company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.11). The business had revenue of $96.95 million for the quarter, compared to analysts’ expectations of $97.34 million. Halcon Resources had a return on equity of 8.76% and a net margin of 124.30%. The company’s revenue was up 319.6% on a year-over-year basis. analysts expect that Halcon Resources will post -0.03 EPS for the current fiscal year.
In related news, major shareholder Franklin Resources Inc sold 1,400,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $6.58, for a total transaction of $9,212,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 7,644,729 shares of company stock valued at $56,619,601 over the last 90 days. 53.90% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. acquired a new stake in Halcon Resources in the 2nd quarter valued at about $472,000. Vanguard Group Inc. raised its position in 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. Vident Investment Advisory LLC acquired a new stake in Halcon Resources in the 3rd quarter valued at about $2,512,000. Janus Henderson Group PLC acquired a new stake in Halcon Resources in the 2nd quarter valued at about $1,496,000. Finally, Bank of New York Mellon Corp raised its position in Halcon Resources by 824.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 208,640 shares of the energy company’s stock valued at $947,000 after purchasing an additional 186,081 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors.
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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