Zacks Investment Research Upgrades Halcon Resources Corporation (HK) to “Hold”
Halcon Resources Corporation (NYSE:HK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
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. “
Several other brokerages also recently commented on HK. Imperial Capital assumed coverage on Halcon Resources Corporation in a report on Tuesday, August 1st. They set an “outperform” rating and a $9.00 target price on the stock. Roth Capital set a $9.00 target price on Halcon Resources Corporation and gave the company a “buy” rating in a report on Tuesday, August 1st. Barclays PLC upgraded Halcon Resources Corporation from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $5.00 to $8.00 in a report on Thursday, July 13th. ValuEngine downgraded Halcon Resources Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, BidaskClub upgraded Halcon Resources Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Halcon Resources Corporation presently has a consensus rating of “Buy” and a consensus target price of $9.43.
Shares of Halcon Resources Corporation (HK) traded down 4.092% during trading on Wednesday, hitting $6.445. The stock had a trading volume of 715,535 shares. The stock’s 50-day moving average price is $6.37 and its 200-day moving average price is $6.33. The company has a market cap of $925.14 million, a P/E ratio of 1.516 and a beta of 3.99. Halcon Resources Corporation has a one year low of $3.69 and a one year high of $11.29.
In other Halcon Resources Corporation news, Director Darryl Schall acquired 10,000 shares of the stock in a transaction on Friday, August 4th. The stock was purchased at an average price of $6.25 per share, for a total transaction of $62,500.00. Following the purchase, the director now directly owns 35,589 shares in the company, valued at $222,431.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Franklin Resources Inc sold 494,899 shares of Halcon Resources Corporation stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $6.15, for a total value of $3,043,628.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,698,219 shares of company stock valued at $42,879,049. 53.90% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Cannell Capital LLC grew its position in shares of Halcon Resources Corporation by 1.5% in the 1st quarter. Cannell Capital LLC now owns 260,998 shares of the energy company’s stock worth $2,010,000 after acquiring an additional 3,890 shares in the last quarter. Koch Industries Inc. grew its position in shares of Halcon Resources Corporation by 45.0% in the 1st quarter. Koch Industries Inc. now owns 28,754 shares of the energy company’s stock worth $221,000 after acquiring an additional 8,920 shares in the last quarter. Jane Street Group LLC grew its position in shares of Halcon Resources Corporation by 133.6% in the 1st quarter. Jane Street Group LLC now owns 25,616 shares of the energy company’s stock worth $197,000 after acquiring an additional 14,648 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Halcon Resources Corporation 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 in the last quarter. Finally, Clinton Group Inc. acquired a new position in shares of Halcon Resources Corporation in the 1st quarter worth approximately $119,000. Institutional investors own 91.57% of the company’s stock.
About Halcon Resources Corporation
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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