Renaissance Technologies LLC cut its stake in Halcon Resources Corp (NYSE:HK) by 95.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,000 shares of the energy company’s stock after selling 1,402,389 shares during the period. Renaissance Technologies LLC’s holdings in Halcon Resources were worth $299,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. First Trust Advisors LP boosted its holdings in Halcon Resources by 62.5% in the second quarter. First Trust Advisors LP now owns 496,749 shares of the energy company’s stock valued at $2,181,000 after purchasing an additional 190,968 shares during the period. BlackRock Inc. boosted its holdings in Halcon Resources by 6.2% in the second quarter. BlackRock Inc. now owns 11,234,185 shares of the energy company’s stock valued at $49,318,000 after purchasing an additional 658,502 shares during the period. Nisa Investment Advisors LLC purchased a new position in Halcon Resources in the second quarter valued at $274,000. TCW Group Inc. boosted its holdings in Halcon Resources by 65.6% in the second quarter. TCW Group Inc. now owns 392,100 shares of the energy company’s stock valued at $1,722,000 after purchasing an additional 155,300 shares during the period. Finally, Bank of Montreal Can purchased a new position in Halcon Resources in the second quarter valued at $403,000.
Halcon Resources stock opened at $3.31 on Friday. Halcon Resources Corp has a 1-year low of $3.02 and a 1-year high of $9.07. 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 (NYSE:HK) last posted its quarterly earnings results on Wednesday, November 7th. The energy company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.01). Halcon Resources had a negative net margin of 101.20% and a negative return on equity of 1.04%. The business had revenue of $61.60 million during the quarter, compared to analyst estimates of $58.33 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. The firm’s quarterly revenue was down 36.5% on a year-over-year basis. Sell-side analysts predict that Halcon Resources Corp will post -0.01 earnings per share for the current year.
In other Halcon Resources news, Director Ares Management Llc sold 350,000 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $3.90, for a total value of $1,365,000.00. Following the sale, the director now directly owns 86,857 shares in the company, valued at $338,742.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.70% of the stock is owned by company insiders.
A number of research analysts recently issued reports on the company. Imperial Capital set a $6.00 target price on Halcon Resources and gave the company a “buy” rating in a report on Friday, November 2nd. Zacks Investment Research upgraded Halcon Resources from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a report on Wednesday, October 24th. ValuEngine cut Halcon Resources from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. JPMorgan Chase & Co. assumed coverage on Halcon Resources in a research note on Wednesday, July 25th. They issued a “neutral” rating and a $6.00 price target on the stock. Finally, Bank of America cut their price target on Halcon Resources from $9.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, August 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $7.54.
Halcon Resources 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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