Halcon Resources Corporation (HK) Shares Gap Down on Insider Selling
Halcon Resources Corporation (NYSE:HK) gapped down before the market opened on Wednesday after an insider sold shares in the company. The stock had previously closed at $7.53, but opened at $7.09. Halcon Resources Corporation shares last traded at $6.81, with a volume of 3234300 shares changing hands.
Specifically, major shareholder Franklin Resources Inc sold 494,899 shares of Halcon Resources Corporation stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $6.15, for a total transaction of $3,043,628.85. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 10,083,036 shares of company stock worth $65,439,141. 53.90% of the stock is owned by company insiders.
A number of equities analysts have commented on the stock. 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 target on the stock. Zacks Investment Research upgraded shares of Halcon Resources Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Bank of America Corporation boosted their price target on shares of Halcon Resources Corporation from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, November 10th. ValuEngine lowered shares of Halcon Resources Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Johnson Rice raised shares of Halcon Resources Corporation from an “accumulate” rating to a “buy” rating in a research note on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. Halcon Resources Corporation currently has an average rating of “Buy” and a consensus price target of $9.88.
The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.91 and a current ratio of 1.91. The company has a market cap of $1,020.00, a P/E ratio of 10.74 and a beta of 4.01.
Halcon Resources Corporation (NYSE:HK) last issued its earnings results on Thursday, November 9th. The energy company reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.11). Halcon Resources Corporation had a net margin of 124.30% and a return on equity of 8.76%. The firm had revenue of $96.95 million during the quarter, compared to the consensus estimate of $97.34 million. The firm’s revenue was up 319.6% compared to the same quarter last year. sell-side analysts predict that Halcon Resources Corporation will post 0.07 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank acquired a new position in shares of Halcon Resources Corporation in the third quarter valued at approximately $109,000. Voya Investment Management LLC acquired a new position in shares of Halcon Resources Corporation in the second quarter valued at approximately $121,000. Cubist Systematic Strategies LLC boosted its holdings in shares of Halcon Resources Corporation by 107.1% in the second quarter. Cubist Systematic Strategies LLC now owns 28,744 shares of the energy company’s stock valued at $130,000 after buying an additional 14,864 shares during the period. Nationwide Fund Advisors acquired a new position in shares of Halcon Resources Corporation in the second quarter valued at approximately $160,000. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Halcon Resources Corporation in the second quarter valued at approximately $172,000. Institutional investors own 89.40% 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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