Metropolitan Life Insurance Co. NY cut its stake in shares of Halcon Resources Co. (NYSE:HK) by 57.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,770 shares of the energy company’s stock after selling 53,174 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Halcon Resources were worth $293,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. BlackRock Inc. grew its stake in Halcon Resources by 2.8% in the 4th quarter. BlackRock Inc. now owns 10,515,424 shares of the energy company’s stock valued at $79,603,000 after acquiring an additional 283,008 shares during the last quarter. Renaissance Technologies LLC grew its stake in Halcon Resources by 244.2% in the 4th quarter. Renaissance Technologies LLC now owns 2,300,395 shares of the energy company’s stock valued at $17,414,000 after acquiring an additional 1,631,995 shares during the last quarter. Nokomis Capital L.L.C. grew its stake in Halcon Resources by 301.0% in the 4th quarter. Nokomis Capital L.L.C. now owns 1,764,486 shares of the energy company’s stock valued at $13,357,000 after acquiring an additional 1,324,486 shares during the last quarter. Deutsche Bank AG grew its stake in Halcon Resources by 315.1% in the 4th quarter. Deutsche Bank AG now owns 1,489,894 shares of the energy company’s stock valued at $11,276,000 after acquiring an additional 1,130,946 shares during the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in Halcon Resources in the 3rd quarter valued at about $8,515,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.
HK has been the topic of a number of research reports. ValuEngine cut shares of Halcon Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. Imperial Capital reissued an “outperform” rating and issued a $9.00 price objective (down from $12.00) on shares of Halcon Resources in a research note on Friday, March 2nd. Zacks Investment Research cut shares of Halcon Resources from a “hold” rating to a “sell” rating in a research note on Friday, March 2nd. TheStreet cut shares of Halcon Resources from a “c-” rating to a “d+” rating in a research note on Tuesday, March 20th. Finally, Roth Capital set a $13.00 price target on shares of Halcon Resources and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Halcon Resources presently has an average rating of “Hold” and a consensus price target of $10.29.
In related news, Director Ares Management Llc acquired 1,113,466 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were acquired at an average cost of $6.90 per share, for a total transaction of $7,682,915.40. Following the acquisition, the director now directly owns 53,114 shares in the company, valued at approximately $366,486.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Franklin Resources Inc sold 414,990 shares of the stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $8.22, for a total transaction of $3,411,217.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 1,170,466 shares of company stock worth $7,982,275 and have sold 1,977,571 shares worth $16,542,034. 3.70% of the stock is owned by company insiders.
Halcon Resources stock opened at $5.43 on Friday. Halcon Resources Co. has a 12-month low of $3.68 and a 12-month high of $9.07. The stock has a market cap of $857.95, a price-to-earnings ratio of -36.20 and a beta of 3.95. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.14 and a current ratio of 3.14.
Halcon Resources (NYSE:HK) last released its quarterly earnings results on Wednesday, February 28th. The energy company reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.07). Halcon Resources had a negative return on equity of 2.12% and a net margin of 141.73%. The firm had revenue of $25.28 million for the quarter, compared to analyst estimates of $27.11 million. During the same period in the prior year, the business earned $0.66 earnings per share. Halcon Resources’s revenue for the quarter was down 80.6% on a year-over-year basis. equities research analysts expect that Halcon Resources Co. will post 0.09 EPS for the current fiscal year.
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Halcon Resources 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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