Halcon Resources Corporation (HK) Trading Down 7.7%
Shares of Halcon Resources Corporation (NYSE:HK) were down 7.7% on Wednesday . The company traded as low as $6.07 and last traded at $6.08. Approximately 4,439,943 shares were traded during trading, an increase of 24% from the average daily volume of 3,594,850 shares. The stock had previously closed at $6.59.
A number of analysts have recently weighed in on HK shares. Roth Capital set a $14.00 target price on shares of Halcon Resources Corporation and gave the stock a “buy” rating in a report on Saturday, June 3rd. Seaport Global Securities reiterated a “buy” rating and set a $10.00 target price on shares of Halcon Resources Corporation in a report on Tuesday, May 23rd. Scotiabank set a $12.00 target price on shares of Halcon Resources Corporation and gave the stock a “buy” rating in a report on Tuesday, May 16th. Barclays PLC upgraded shares of Halcon Resources Corporation from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $5.00 to $8.00 in a report on Thursday, July 13th. Finally, Zacks Investment Research upgraded shares of Halcon Resources Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 16th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Halcon Resources Corporation has an average rating of “Buy” and a consensus price target of $9.41.
The stock has a 50-day moving average price of $6.35 and a 200-day moving average price of $6.52. The company has a market capitalization of $872.75 million, a P/E ratio of 1.43 and a beta of 3.95.
In other Halcon Resources Corporation news, Director Sylvia K. Barnes purchased 20,000 shares of the stock in a transaction dated Wednesday, June 14th. The stock was purchased at an average price of $5.34 per share, with a total value 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Franklin Resources Inc sold 746,173 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $6.07, for a total transaction of $4,529,270.11. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,530,972 shares of company stock valued at $15,462,982. 53.90% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. UBS Oconnor LLC purchased a new stake in shares of Halcon Resources Corporation in the 1st quarter worth approximately $30,285,000. Boston Partners lifted its position in shares of Halcon Resources Corporation by 1,388.1% in the 2nd quarter. Boston Partners now owns 3,863,260 shares of the energy company’s stock worth $17,539,000 after purchasing an additional 3,603,645 shares during the period. Vanguard Group Inc. lifted its position in shares of Halcon Resources Corporation by 113.7% in the 2nd quarter. Vanguard Group Inc. now owns 3,296,119 shares of the energy company’s stock worth $14,964,000 after purchasing an additional 1,753,923 shares during the period. Citadel Advisors LLC lifted its position in shares of Halcon Resources Corporation by 35.6% in the 2nd quarter. Citadel Advisors LLC now owns 2,905,894 shares of the energy company’s stock worth $13,193,000 after purchasing an additional 763,581 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Halcon Resources Corporation in the 1st quarter worth approximately $17,949,000. 91.57% of the stock is owned by hedge funds and other institutional investors.
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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