Imperial Capital Comments on Halcon Resources Corporation’s FY2018 Earnings (HK)
Halcon Resources Corporation (NYSE:HK) – Equities researchers at Imperial Capital decreased their FY2018 earnings per share (EPS) estimates for shares of Halcon Resources Corporation in a report released on Thursday. Imperial Capital analyst J. Wangler now expects that the energy company will earn $0.23 per share for the year, down from their prior estimate of $0.27. Imperial Capital has a “Outperform” rating and a $9.00 price target on the stock.
A number of other equities analysts have also weighed in on the company. ValuEngine lowered Halcon Resources Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. BidaskClub upgraded Halcon Resources Corporation from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Zacks Investment Research upgraded Halcon Resources Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Roth Capital set a $9.00 price objective on Halcon Resources Corporation and gave the company a “buy” rating in a research note on Tuesday, August 1st. Finally, Barclays PLC upgraded Halcon Resources Corporation from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $5.00 to $8.00 in a research note on Thursday, July 13th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $9.41.
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Halcon Resources Corporation (NYSE HK) traded down 2.339% during mid-day trading on Friday, reaching $6.055. The company’s stock had a trading volume of 979,211 shares. The stock has a 50-day moving average price of $6.32 and a 200-day moving average price of $6.52. The company has a market capitalization of $869.16 million, a price-to-earnings ratio of 1.424 and a beta of 3.95. Halcon Resources Corporation has a one year low of $3.69 and a one year high of $12.01.
Large investors have recently bought and sold shares of the company. Clinton Group Inc. acquired a new stake in shares of Halcon Resources Corporation during the 1st quarter valued at about $119,000. Dynamic Technology Lab Private Ltd acquired a new stake in Halcon Resources Corporation in the 1st quarter worth about $140,000. Bank of New York Mellon Corp acquired a new stake in Halcon Resources Corporation in the 1st quarter worth about $174,000. Texas Yale Capital Corp. acquired a new stake in Halcon Resources Corporation in the 1st quarter worth about $197,000. Finally, Jane Street Group LLC boosted its holdings in 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 buying an additional 14,648 shares during the last quarter. Hedge funds and other institutional investors own 91.57% of the company’s stock.
In other news, major shareholder Franklin Resources Inc sold 423,000 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $6.11, for a total transaction of $2,584,530.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Darryl Schall bought 10,000 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were acquired at an average price of $6.25 per share, for a total transaction of $62,500.00. Following the completion of the transaction, the director now directly owns 35,589 shares in the company, valued at $222,431.25. The disclosure for this purchase can be found here. Insiders have sold a total of 2,530,972 shares of company stock worth $15,462,982 over the last 90 days. Insiders own 53.90% of the company’s stock.
Halcon Resources Corporation 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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