Zacks Investment Research Lowers Halcon Resources Corporation (NYSE:HK) to Sell
Zacks Investment Research downgraded shares of Halcon Resources Corporation (NYSE:HK) from a hold rating to a sell rating in a research report report published on Thursday morning.
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 brokerages have also recently weighed in on HK. Roth Capital set a $9.00 price objective on shares of Halcon Resources Corporation and gave the stock a buy rating in a research note on Tuesday. Imperial Capital initiated coverage on shares of Halcon Resources Corporation in a research note on Tuesday. They set an outperform rating and a $9.00 price target on the stock. Barclays PLC upgraded shares of Halcon Resources Corporation from an underweight rating to an equal weight rating and increased their price objective for the company from $5.00 to $8.00 in a report on Thursday, July 13th. Seaport Global Securities lowered shares of Halcon Resources Corporation from a buy rating to a neutral rating and cut their price objective for the company from $10.00 to $4.00 in a report on Wednesday, June 21st. Finally, ValuEngine lowered shares of Halcon Resources Corporation from a buy rating to a hold rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. Halcon Resources Corporation presently has a consensus rating of Hold and an average price target of $9.41.
Halcon Resources Corporation (HK) traded up 7.09% during trading on Thursday, reaching $6.34. The company had a trading volume of 3,044,215 shares. The stock has a market cap of $951.64 million, a P/E ratio of 0.90 and a beta of 3.99. The firm has a 50-day moving average price of $5.45 and a 200 day moving average price of $7.02. Halcon Resources Corporation has a 12-month low of $3.68 and a 12-month high of $13.85.
Halcon Resources Corporation (NYSE:HK) last posted its earnings results on Wednesday, May 3rd. The energy company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.03. The business had revenue of $135.60 million for the quarter, compared to analysts’ expectations of $144.13 million. Halcon Resources Corporation had a negative net margin of 168.09% and a positive return on equity of 725.38%. Equities research analysts predict that Halcon Resources Corporation will post $0.17 EPS for the current fiscal year.
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In other news, Director Sylvia K. Barnes bought 20,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was bought at an average cost of $5.34 per share, for a total transaction of $106,800.00. Following the transaction, the director now owns 23,757 shares of the company’s stock, valued at $126,862.38. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Franklin Resources Inc sold 31,341 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $6.73, for a total transaction of $210,924.93. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. bought a new stake in shares of Halcon Resources Corporation during the fourth quarter valued at about $555,000. UBS Asset Management Americas Inc. bought a new stake in shares of Halcon Resources Corporation during the fourth quarter valued at about $673,000. Highbridge Capital Management LLC bought a new stake in shares of Halcon Resources Corporation during the fourth quarter valued at about $240,000. Bank of Montreal Can bought a new stake in shares of Halcon Resources Corporation during the first quarter valued at about $1,371,000. Finally, Sanders Morris Harris Inc. bought a new stake in shares of Halcon Resources Corporation during the first quarter valued at about $159,000. Institutional investors own 78.54% of the company’s stock.
About Halcon Resources Corporation
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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