Short Interest in Halcon Resources Corporation (HK) Rises By 42.2%
Halcon Resources Corporation (NYSE:HK) saw a significant growth in short interest in the month of October. As of October 13th, there was short interest totalling 10,978,107 shares, a growth of 42.2% from the September 29th total of 7,721,706 shares. Based on an average daily trading volume, of 1,957,639 shares, the short-interest ratio is presently 5.6 days. Currently, 7.7% of the company’s stock are sold short.
Several research analysts have recently weighed in on the company. Imperial Capital assumed coverage on Halcon Resources Corporation in a research report on Tuesday, August 1st. They set an “outperform” rating and a $9.00 price objective for the company. Roth Capital set a $9.00 price objective on Halcon Resources Corporation and gave the stock a “buy” rating in a research report on Friday, October 20th. Johnson Rice raised Halcon Resources Corporation from an “accumulate” rating to a “buy” rating in a research report on Wednesday, October 18th. Bank of America Corporation initiated coverage on Halcon Resources Corporation in a research report on Monday, October 16th. They set a “neutral” rating for the company. Finally, Zacks Investment Research cut Halcon Resources Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $10.00.
In other news, Director Darryl Schall acquired 10,000 shares of Halcon Resources Corporation stock in a transaction dated Friday, August 4th. The stock was bought at an average cost of $6.25 per share, with a total value of $62,500.00. Following the completion of the transaction, the director now directly owns 35,589 shares of the company’s stock, valued at $222,431.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Franklin Resources Inc sold 305,201 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $6.13, for a total value of $1,870,882.13. The disclosure for this sale can be found here. Insiders have sold 8,698,219 shares of company stock valued at $55,285,549 over the last ninety days. 53.90% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Boston Partners boosted its stake in shares of Halcon Resources Corporation by 1,388.1% in the 2nd quarter. Boston Partners now owns 3,863,260 shares of the energy company’s stock worth $17,539,000 after buying an additional 3,603,645 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Halcon Resources Corporation by 113.7% in the 2nd quarter. Vanguard Group Inc. now owns 3,296,119 shares of the energy company’s stock worth $14,964,000 after buying an additional 1,753,923 shares during the last quarter. Citadel Advisors LLC boosted its stake in shares of Halcon Resources Corporation by 35.6% in the 2nd quarter. Citadel Advisors LLC now owns 2,905,894 shares of the energy company’s stock worth $13,193,000 after buying an additional 763,581 shares during the last quarter. State Street Corp boosted its stake in shares of Halcon Resources Corporation by 5,676.2% in the 2nd quarter. State Street Corp now owns 1,226,470 shares of the energy company’s stock worth $5,567,000 after buying an additional 1,205,237 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. purchased a new position in shares of Halcon Resources Corporation in the 2nd quarter worth approximately $4,404,000. 91.38% of the stock is owned by hedge funds and other institutional investors.
Halcon Resources Corporation (HK) opened at 6.45 on Friday. The company’s 50-day moving average price is $6.39 and its 200 day moving average price is $6.20. Halcon Resources Corporation has a 12 month low of $3.69 and a 12 month high of $11.29. The firm has a market capitalization of $925.86 million, a PE ratio of 1.52 and a beta of 3.99.
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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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