Anchor Bolt Capital LP Takes Position in Halcon Resources Corporation (HK)
Anchor Bolt Capital LP bought a new position in Halcon Resources Corporation (NYSE:HK) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,056,601 shares of the energy company’s stock, valued at approximately $27,585,000. Anchor Bolt Capital LP owned about 2.71% of Halcon Resources as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Amalgamated Bank acquired a new position in shares of Halcon Resources in the 3rd quarter worth $109,000. Voya Investment Management LLC acquired a new position in shares of Halcon Resources in the 2nd quarter worth $121,000. Cubist Systematic Strategies LLC grew its holdings in shares of Halcon Resources by 107.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 28,744 shares of the energy company’s stock worth $130,000 after acquiring an additional 14,864 shares during the last quarter. Nationwide Fund Advisors acquired a new position in shares of Halcon Resources in the 2nd quarter worth $160,000. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Halcon Resources in the 2nd quarter worth $172,000. Institutional investors and hedge funds own 94.33% of the company’s stock.
In related news, major shareholder Franklin Resources Inc sold 1,650,000 shares of Halcon Resources stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $6.24, for a total transaction of $10,296,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 11,116,337 shares of company stock valued at $72,995,519. Insiders own 53.90% of the company’s stock.
Halcon Resources Corporation (HK) traded down $0.19 on Thursday, reaching $6.97. The company had a trading volume of 2,167,400 shares, compared to its average volume of 2,483,680. The firm has a market capitalization of $1,071.11, a PE ratio of 10.85 and a beta of 4.03. Halcon Resources Corporation has a 52-week low of $3.68 and a 52-week high of $10.30. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.35.
Halcon Resources (NYSE:HK) last released its quarterly earnings data on Thursday, November 9th. The energy company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.11). The firm had revenue of $96.95 million for the quarter, compared to analyst estimates of $97.34 million. Halcon Resources had a net margin of 124.30% and a return on equity of 8.76%. Halcon Resources’s revenue for the quarter was up 319.6% compared to the same quarter last year. research analysts forecast that Halcon Resources Corporation will post -0.02 earnings per share for the current year.
HK has been the subject of several recent analyst reports. ValuEngine cut Halcon Resources from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. TheStreet raised Halcon Resources from a “d+” rating to a “c-” rating in a research report on Wednesday, November 22nd. Zacks Investment Research raised Halcon Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, November 21st. Bank of America raised their target price on Halcon Resources from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, November 10th. Finally, Roth Capital set a $9.00 target price on Halcon Resources and gave the stock a “buy” rating in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $9.88.
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Halcon Resources 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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