Halcon Resources (HK) Stock Rating Reaffirmed by Imperial Capital
Imperial Capital reaffirmed their outperform rating on shares of Halcon Resources (NYSE:HK) in a report published on Friday morning, MarketBeat Ratings reports. The brokerage currently has a $9.00 target price on the energy company’s stock, down from their prior target price of $12.00. Imperial Capital also issued estimates for Halcon Resources’ Q2 2018 earnings at ($0.01) EPS, Q3 2018 earnings at $0.02 EPS and Q4 2018 earnings at $0.04 EPS.
A number of other brokerages also recently weighed in on HK. Stephens reaffirmed a buy rating and issued a $13.00 target price on shares of Halcon Resources in a research note on Monday, February 26th. Zacks Investment Research raised shares of Halcon Resources from a sell rating to a hold rating in a research note on Wednesday, November 8th. ValuEngine downgraded shares of Halcon Resources from a sell rating to a strong sell rating in a research note on Thursday. TheStreet raised shares of Halcon Resources from a d+ rating to a c- rating in a research note on Wednesday, November 22nd. Finally, Roth Capital set a $13.00 target price on shares of Halcon Resources and gave the company a buy rating in a research note on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Halcon Resources has a consensus rating of Hold and an average target price of $10.29.
Shares of Halcon Resources (HK) traded down $0.30 during trading on Friday, hitting $5.35. 4,555,951 shares of the stock were exchanged, compared to its average volume of 3,650,000. Halcon Resources has a 52-week low of $3.68 and a 52-week high of $9.07. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.35.
In other Halcon Resources news, Director Ares Management Llc purchased 1,113,466 shares of Halcon Resources stock in a transaction on Friday, February 9th. The shares were acquired at an average cost of $6.90 per share, for a total transaction of $7,682,915.40. Following the completion of the transaction, the director now directly owns 53,114 shares of the company’s stock, valued at $366,486.60. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Franklin Resources Inc sold 334,000 shares of the stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $7.71, for a total transaction of $2,575,140.00. The disclosure for this sale can be found here. Insiders have sold 5,419,383 shares of company stock worth $44,517,952 over the last quarter. Company insiders own 53.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of HK. Alambic Investment Management L.P. bought a new position in shares of Halcon Resources in the fourth quarter worth approximately $104,000. Amalgamated Bank bought a new position in shares of Halcon Resources in the third quarter worth approximately $109,000. Voya Investment Management LLC bought a new position in shares of Halcon Resources in the second quarter worth approximately $121,000. Virtu Financial LLC bought a new position in shares of Halcon Resources in the fourth quarter worth approximately $121,000. Finally, Gotham Asset Management LLC bought a new position in shares of Halcon Resources in the fourth quarter worth approximately $124,000. Institutional investors and hedge funds own 90.65% of the company’s stock.
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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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