Halcon Resources Co. (HK) Given Average Rating of “Buy” by Brokerages
Halcon Resources Co. (NYSE:HK) has been assigned a consensus recommendation of “Buy” from the eleven ratings firms that are covering the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $11.33.
Several research firms recently issued reports on HK. Scotiabank set a $12.00 target price on Halcon Resources and gave the company a “buy” rating in a research report on Tuesday, May 16th. Zacks Investment Research lowered shares of Halcon Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, March 15th. ValuEngine raised shares of Halcon Resources from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Johnson Rice raised shares of Halcon Resources from a “hold” rating to an “accumulate” rating in a research note on Wednesday, March 1st. Finally, Seaport Global Securities reissued a “buy” rating and set a $10.00 target price on shares of Halcon Resources in a research note on Tuesday.
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In other Halcon Resources news, major shareholder Franklin Resources Inc sold 117,731 shares of the stock in a transaction dated Friday, April 7th. The shares were sold at an average price of $7.84, for a total value of $923,011.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.00% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. purchased a new stake in shares of Halcon Resources during the first quarter worth about $1,836,000. Bank of Nova Scotia purchased a new stake in shares of Halcon Resources during the first quarter worth about $770,000. Point72 Asset Management L.P. purchased a new stake in shares of Halcon Resources during the first quarter worth about $17,949,000. Jane Street Group LLC increased its stake in shares of Halcon Resources by 133.6% in the first quarter. Jane Street Group LLC now owns 25,616 shares of the energy company’s stock worth $197,000 after buying an additional 14,648 shares in the last quarter. Finally, Paloma Partners Management Co increased its stake in shares of Halcon Resources by 3,565.1% in the first quarter. Paloma Partners Management Co now owns 1,308,800 shares of the energy company’s stock worth $10,078,000 after buying an additional 1,273,090 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.
Halcon Resources (NYSE:HK) traded down 1.50% on Friday, reaching $6.55. The company had a trading volume of 1,941,366 shares. The stock’s 50-day moving average is $6.93 and its 200-day moving average is $8.21. The company has a market capitalization of $597.84 million, a P/E ratio of 2.81 and a beta of 3.42. Halcon Resources has a 52 week low of $6.32 and a 52 week high of $19.10.
Halcon Resources (NYSE:HK) last posted its earnings results on Wednesday, May 3rd. The energy company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The company had revenue of $135.60 million during the quarter, compared to analyst estimates of $144.13 million. Halcon Resources had a negative return on equity of 42.63% and a negative net margin of 538.20%. Equities research analysts forecast that Halcon Resources will post $0.32 EPS for the current fiscal year.
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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