Halcon Resources Corp (NYSE:HK) has been given an average rating of “Buy” by the eleven analysts that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $9.50.
A number of research analysts have commented on the stock. Bank of America cut their target price on shares of Halcon Resources from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 7th. Stephens restated a “buy” rating and issued a $13.00 price target on shares of Halcon Resources in a report on Monday, February 26th. Imperial Capital restated an “outperform” rating and issued a $9.00 price target (down from $12.00) on shares of Halcon Resources in a report on Friday, March 2nd. ValuEngine cut shares of Halcon Resources from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. Finally, Zacks Investment Research upgraded shares of Halcon Resources from a “sell” rating to a “hold” rating in a report on Wednesday, March 14th.
In other news, CEO Floyd C. Wilson purchased 50,000 shares of the stock in a transaction dated Friday, March 9th. The shares were acquired at an average cost of $5.22 per share, for a total transaction of $261,000.00. Following the acquisition, the chief executive officer now owns 1,669,486 shares of the company’s stock, valued at $8,714,716.92. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.70% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in HK. Alambic Investment Management L.P. acquired a new stake in Halcon Resources in the 4th quarter worth approximately $104,000. Point72 Asia Hong Kong Ltd acquired a new stake in Halcon Resources in the 1st quarter worth approximately $114,000. Virtu Financial LLC acquired a new stake in Halcon Resources in the 4th quarter worth approximately $121,000. Gotham Asset Management LLC acquired a new stake in Halcon Resources during the 4th quarter valued at approximately $124,000. Finally, Paloma Partners Management Co acquired a new stake in Halcon Resources during the 4th quarter valued at approximately $131,000. Institutional investors own 98.35% of the company’s stock.
NYSE HK traded up $0.06 during trading on Thursday, reaching $4.31. 5,508,444 shares of the company’s stock traded hands, compared to its average volume of 3,664,581. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.20 and a current ratio of 3.20. The company has a market capitalization of $649.85 million, a price-to-earnings ratio of -28.73 and a beta of 3.97. Halcon Resources has a 12-month low of $3.68 and a 12-month high of $9.07.
Halcon Resources (NYSE:HK) last posted its earnings results on Wednesday, May 2nd. The energy company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The business had revenue of $49.30 million for the quarter, compared to analysts’ expectations of $44.34 million. Halcon Resources had a net margin of 117.87% and a negative return on equity of 3.42%. The company’s revenue for the quarter was down 63.6% on a year-over-year basis. During the same period last year, the business posted $0.06 EPS.
Halcon Resources Company Profile
Halcón Resources Corporation, an independent energy company, engages in the acquisition, production, exploration, and development of onshore oil and natural gas assets in the United States. As of February 28, 2018, the company held interests in 21,679 net acres in the Monument Draw area of the Delaware Basin, located in Pecos and Reeves Counties, Texas; and 27,035 net acres in the Hackberry Draw area of the Delaware Basin, located in Pecos and Reeves Counties, Texas.
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