Zacks Investment Research upgraded shares of Halcon Resources (NYSE:HK) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. The brokerage currently has $4.25 price objective on the energy company’s stock.
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. “
Several other equities research analysts have also issued reports on HK. JPMorgan Chase & Co. initiated coverage on shares of Halcon Resources in a research note on Wednesday, July 25th. They set a neutral rating and a $6.00 target price on the stock. ValuEngine raised shares of Halcon Resources from a sell rating to a hold rating in a research note on Thursday, August 2nd. Bank of America reduced their price target on shares of Halcon Resources from $9.00 to $6.00 and set a neutral rating for the company in a research report on Thursday, August 2nd. Finally, Imperial Capital reduced their price target on shares of Halcon Resources from $7.00 to $5.00 and set an outperform rating for the company in a research report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $7.54.
Shares of HK stock traded down $0.17 during mid-day trading on Wednesday, hitting $3.31. 3,683,631 shares of the stock were exchanged, compared to its average volume of 5,088,373. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.55. Halcon Resources has a 52-week low of $3.02 and a 52-week high of $9.07. The firm has a market cap of $613.70 million, a P/E ratio of -22.07 and a beta of 4.05.
Halcon Resources (NYSE:HK) last posted its earnings results on Wednesday, November 7th. The energy company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Halcon Resources had a negative return on equity of 1.04% and a negative net margin of 101.20%. The firm had revenue of $61.60 million for the quarter, compared to analysts’ expectations of $58.33 million. During the same period in the previous year, the company earned ($0.06) earnings per share. The company’s revenue was down 36.5% compared to the same quarter last year. On average, analysts anticipate that Halcon Resources will post -0.01 earnings per share for the current fiscal year.
In other Halcon Resources news, Director Ares Management Llc sold 350,000 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $3.90, for a total value of $1,365,000.00. Following the completion of the transaction, the director now owns 86,857 shares of the company’s stock, valued at approximately $338,742.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.70% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in HK. AMP Capital Investors Ltd purchased a new stake in shares of Halcon Resources during the 2nd quarter worth $101,000. Laurion Capital Management LP acquired a new stake in Halcon Resources during the 2nd quarter worth $107,000. California Public Employees Retirement System acquired a new stake in Halcon Resources during the 2nd quarter worth $168,000. Guggenheim Capital LLC raised its stake in Halcon Resources by 111.3% during the 1st quarter. Guggenheim Capital LLC now owns 54,095 shares of the energy company’s stock worth $264,000 after acquiring an additional 28,497 shares in the last quarter. Finally, Nisa Investment Advisors LLC acquired a new stake in Halcon Resources during the 2nd quarter worth $274,000.
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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