Halcon Resources Corporation (HK) Receives Average Recommendation of “Buy” from Analysts
Halcon Resources Corporation (NYSE:HK) has earned a consensus recommendation of “Buy” from the thirteen ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $9.57.
HK has been the topic of several recent research reports. Zacks Investment Research upgraded Halcon Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. BidaskClub upgraded Halcon Resources from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. ValuEngine lowered Halcon Resources from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Bank of America initiated coverage on Halcon Resources in a research report on Monday, October 16th. They issued a “neutral” rating on the stock. Finally, Seaport Global Securities upgraded Halcon Resources from a “neutral” rating to a “buy” rating and raised their price target for the stock from $7.00 to $8.00 in a research report on Tuesday, October 17th.
Shares of Halcon Resources (HK) traded down $0.17 on Thursday, reaching $7.15. The company’s stock had a trading volume of 1,566,710 shares, compared to its average volume of 2,472,320. The company has a market cap of $1,120.47, a price-to-earnings ratio of 11.35 and a beta of 4.03. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.91 and a quick ratio of 1.91. Halcon Resources has a 52-week low of $3.68 and a 52-week high of $10.30.
Halcon Resources (NYSE:HK) last announced its quarterly earnings data on Thursday, November 9th. The energy company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.11). The firm had revenue of $96.95 million during the quarter, compared to the consensus estimate of $97.34 million. Halcon Resources had a net margin of 124.30% and a return on equity of 8.76%. The company’s revenue for the quarter was up 319.6% on a year-over-year basis. equities analysts forecast that Halcon Resources will post -0.03 earnings per share for the current fiscal year.
In other news, major shareholder Franklin Resources Inc sold 334,000 shares of the firm’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $7.71, for a total value of $2,575,140.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders sold a total of 10,315,339 shares of company stock worth $68,406,272 over the last 90 days. 53.90% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of HK. Anchor Bolt Capital LP acquired a new stake in Halcon Resources during the 3rd quarter worth $27,585,000. Boston Partners raised its stake in Halcon Resources by 1,388.1% during the 2nd quarter. Boston Partners now owns 3,863,260 shares of the energy company’s stock worth $17,539,000 after buying an additional 3,603,645 shares during the period. Vanguard Group Inc. raised its stake in Halcon Resources by 113.7% during the 2nd quarter. Vanguard Group Inc. now owns 3,296,119 shares of the energy company’s stock worth $14,964,000 after buying an additional 1,753,923 shares during the period. Senvest Management LLC acquired a new stake in Halcon Resources during the 3rd quarter worth $10,098,000. Finally, Dimensional Fund Advisors LP acquired a new stake in Halcon Resources during the 3rd quarter worth $8,515,000. 94.33% of the stock is currently owned by institutional investors and hedge funds.
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About Halcon Resources
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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