Halcon Resources Corporation (NYSE:HK)’s share price gapped up before the market opened on Wednesday following insider buying activity. The stock had previously closed at $6.00, but opened at $6.16. Halcon Resources Corporation shares last traded at $6.28, with a volume of 2,666,392 shares changing hands.

Specifically, Director Sylvia K. Barnes acquired 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were purchased at an average cost of $5.34 per share, for a total transaction of $106,800.00. Following the transaction, the director now directly owns 23,757 shares in the company, valued at approximately $126,862.38. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Darryl Schall acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was purchased at an average price of $6.25 per share, for a total transaction of $62,500.00. Following the completion of the transaction, the director now owns 35,589 shares in the company, valued at $222,431.25. The disclosure for this purchase can be found here. Company insiders own 2.80% of the company’s stock.

Several analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Halcon Resources Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Roth Capital set a $9.00 price objective on shares of Halcon Resources Corporation and gave the company a “buy” rating in a research report on Tuesday, August 1st. Imperial Capital assumed coverage on shares of Halcon Resources Corporation in a research report on Tuesday, August 1st. They issued an “outperform” rating and a $9.00 price objective on the stock. Barclays PLC upgraded shares of Halcon Resources Corporation from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $5.00 to $8.00 in a research report on Thursday, July 13th. Finally, Seaport Global Securities downgraded 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 research report on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $9.41.

The company’s 50-day moving average is $5.53 and its 200-day moving average is $7.00. The company has a market cap of $942.63 million, a PE ratio of 0.90 and a beta of 3.99.

Hedge funds and other institutional investors have recently modified their holdings of the company. Clinton Group Inc. bought a new position in shares of Halcon Resources Corporation during the first quarter valued at about $119,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Halcon Resources Corporation during the first quarter valued at about $140,000. Sanders Morris Harris Inc. bought a new position in shares of Halcon Resources Corporation during the first quarter valued at about $159,000. Bank of New York Mellon Corp bought a new position in shares of Halcon Resources Corporation during the first quarter valued at about $174,000. Finally, Texas Yale Capital Corp. bought a new position in shares of Halcon Resources Corporation during the first quarter valued at about $197,000. Institutional investors and hedge funds own 78.62% of the company’s stock.

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Halcon Resources Corporation Company 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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