Halcon Resources Corp Given Average Recommendation of “Hold” by Analysts (NYSE:HK)
Halcon Resources Corp (NYSE:HK) has received an average rating of “Hold” from the nineteen ratings firms that are currently covering the company, American Banking News.com reports. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $5.96.
A number of analysts have recently weighed in on HK shares. Analysts at MLV & Co
upgraded shares of Halcon Resources Corp from a “hold” rating to a “buy” rating in a research note on Monday, August 18th. They now have a $8.00 price target on the stock. Separately, analysts at Zacks upgraded shares of Halcon Resources Corp from a “neutral” rating to an “outperform” rating in a research note on Tuesday, August 5th. They now have a $6.00 price target on the stock. Finally, analysts at Morgan Stanley downgraded shares of Halcon Resources Corp from an “equal weight” rating to an “underweight” rating in a research note on Monday, August 4th. They now have a $4.00 price target on the stock, down previously from $8.00. They noted that the move was a valuation call.
Halcon Resources Corp (NYSE:HK) traded down 0.72% on Friday, hitting $5.50. 1,418,199 shares of the company’s stock traded hands. Halcon Resources Corp has a 52 week low of $3.16 and a 52 week high of $7.50. The stock’s 50-day moving average is $5.93 and its 200-day moving average is $5.40. The company’s market cap is $2.319 billion. Halcon Resources Corp also was the recipient of a significant growth in short interest in August. As of August 15th, there was short interest totalling 58,956,629 shares, a growth of 6.1% from the July 31st total of 55,566,119 shares. Approximately 19.5% of the shares of the stock are short sold. Based on an average trading volume of 8,201,452 shares, the days-to-cover ratio is presently 7.2 days.
Halcon Resources Corp (NYSE:HK) last announced its earnings results on Wednesday, July 30th. The company reported $0.07 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.04 by $0.03. The company had revenue of $327.10 million for the quarter, compared to the consensus estimate of $303.63 million. During the same quarter last year, the company posted $0.04 earnings per share. Halcon Resources Corp’s revenue was up 52.6% compared to the same quarter last year. Analysts expect that Halcon Resources Corp will post $0.21 EPS for the current fiscal year.
Halcon Resources Corporation (NYSE:HK) 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.
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