Imperial Capital Research Analysts Decrease Earnings Estimates for Halcon Resources Corporation (HK)
Halcon Resources Corporation (NYSE:HK) – Investment analysts at Imperial Capital reduced their FY2017 earnings per share (EPS) estimates for shares of Halcon Resources Corporation in a note issued to investors on Wednesday. Imperial Capital analyst J. Wangler now expects that the energy company will earn $0.04 per share for the year, down from their prior forecast of $0.05. Imperial Capital has a “Outperform” rating and a $9.00 price target on the stock. Imperial Capital also issued estimates for Halcon Resources Corporation’s Q4 2017 earnings at $0.01 EPS.
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HK has been the topic of a number of other research reports. Roth Capital set a $9.00 price target on Halcon Resources Corporation and gave the company a “buy” rating in a research report on Tuesday, August 1st. BidaskClub upgraded Halcon Resources Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 25th. ValuEngine downgraded Halcon Resources Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research downgraded Halcon Resources Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Finally, Barclays PLC reiterated a “sell” rating and issued a $5.00 price objective on shares of Halcon Resources Corporation in a report on Friday, July 7th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $9.43.
Halcon Resources Corporation (NYSE:HK) opened at 6.30 on Thursday. The stock has a market cap of $904.33 million, a price-to-earnings ratio of 1.48 and a beta of 3.99. Halcon Resources Corporation has a 1-year low of $3.68 and a 1-year high of $11.29. The firm has a 50-day moving average price of $6.40 and a 200 day moving average price of $6.31.
In other Halcon Resources Corporation news, major shareholder Franklin Resources Inc sold 500,000 shares of Halcon Resources Corporation stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $6.81, for a total value of $3,405,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Darryl Schall bought 10,000 shares of the stock in a transaction on Friday, August 4th. The stock was bought at an average price of $6.25 per share, for a total transaction of $62,500.00. Following the completion of the purchase, the director now directly owns 35,589 shares in the company, valued at approximately $222,431.25. The disclosure for this purchase can be found here. Insiders have sold a total of 6,698,219 shares of company stock worth $42,879,049 in the last 90 days. 53.90% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the business. BlueCrest Capital Management Ltd purchased a new position in shares of Halcon Resources Corporation in the 1st quarter valued at approximately $558,000. Bank of Nova Scotia purchased a new position in shares of Halcon Resources Corporation in the 1st quarter valued at approximately $770,000. Paloma Partners Management Co grew its stake in shares of Halcon Resources Corporation by 3,565.1% in the 1st quarter. Paloma Partners Management Co now owns 1,308,800 shares of the energy company’s stock valued at $10,078,000 after purchasing an additional 1,273,090 shares during the last quarter. Peconic Partners LLC purchased a new position in shares of Halcon Resources Corporation in the 1st quarter valued at approximately $385,000. Finally, Clinton Group Inc. purchased a new position in shares of Halcon Resources Corporation in the 1st quarter valued at 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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