Halcon Resources Co. (HK) Downgraded by Zacks Investment Research
According to Zacks, “Halcon Resources Corporation is an energy company engaged in the acquisition, exploration and development of onshore oil and natural gas properties in the United States. The Company operates in Wichita, Wilbarger and Starr Counties in Texas, Pontotoc and Seminole Counties, Oklahoma, and Louisiana. Halcon Resources Corporation, formerly known as RAM Energy Resources, Inc., is based in Louisiana, USA. “
Other equities analysts have also recently issued research reports about the stock. Johnson Rice raised shares of Halcon Resources from a hold rating to an accumulate rating in a research report on Wednesday, March 1st. Scotiabank set a $15.00 price target on shares of Halcon Resources and gave the company a buy rating in a research report on Thursday, March 2nd. Wunderlich raised shares of Halcon Resources from a hold rating to a buy rating and set a $12.00 target price on the stock in a research report on Tuesday, December 13th. Roth Capital reissued a buy rating on shares of Halcon Resources in a research report on Monday, November 28th. Finally, Capital One Financial Corp. raised shares of Halcon Resources from an equal weight rating to an overweight rating in a research report on Wednesday, January 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $9.79.
Shares of Halcon Resources (NYSE:HK) opened at 7.4397 on Wednesday. Halcon Resources has a 1-year low of $6.65 and a 1-year high of $49.91. The stock has a 50 day moving average price of $8.45 and a 200 day moving average price of $9.14. The firm’s market capitalization is $678.89 million.
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Several large investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of Halcon Resources by 20,288.3% in the third quarter. JPMorgan Chase & Co. now owns 4,961,293 shares of the energy company’s stock valued at $46,536,000 after buying an additional 4,936,959 shares during the last quarter. Nomura Asset Management Co. Ltd. acquired a new position in Halcon Resources during the third quarter worth $8,557,000. Kettle Hill Capital Management LLC acquired a new position in Halcon Resources during the fourth quarter worth $6,373,000. Renaissance Technologies LLC raised its position in Halcon Resources by 508.6% in the fourth quarter. Renaissance Technologies LLC now owns 545,300 shares of the energy company’s stock worth $5,093,000 after buying an additional 455,700 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Halcon Resources by 576.8% in the third quarter. Wells Fargo & Company MN now owns 396,774 shares of the energy company’s stock worth $3,721,000 after buying an additional 338,147 shares in the last quarter. Institutional investors own 84.82% of the company’s stock.
Halcon Resources 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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