Insider Selling: Halcon Resources Corporation (HK) Major Shareholder Sells 550,000 Shares of Stock

Halcon Resources Corporation (NYSE:HK) major shareholder Franklin Resources Inc sold 550,000 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $8.17, for a total value of $4,493,500.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Franklin Resources Inc also recently made the following trade(s):

  • On Thursday, January 18th, Franklin Resources Inc sold 300,000 shares of Halcon Resources stock. The stock was sold at an average price of $8.33, for a total value of $2,499,000.00.
  • On Tuesday, January 16th, Franklin Resources Inc sold 800,000 shares of Halcon Resources stock. The stock was sold at an average price of $8.57, for a total value of $6,856,000.00.
  • On Thursday, January 11th, Franklin Resources Inc sold 765,165 shares of Halcon Resources stock. The stock was sold at an average price of $8.08, for a total value of $6,182,533.20.
  • On Tuesday, January 9th, Franklin Resources Inc sold 265,143 shares of Halcon Resources stock. The stock was sold at an average price of $7.76, for a total value of $2,057,509.68.
  • On Wednesday, January 3rd, Franklin Resources Inc sold 708,173 shares of Halcon Resources stock. The stock was sold at an average price of $8.08, for a total value of $5,722,037.84.
  • On Friday, December 28th, Franklin Resources Inc sold 7,100 shares of Halcon Resources stock. The stock was sold at an average price of $7.70, for a total value of $54,670.00.
  • On Wednesday, December 27th, Franklin Resources Inc sold 230,209 shares of Halcon Resources stock. The stock was sold at an average price of $7.74, for a total value of $1,781,817.66.
  • On Friday, December 22nd, Franklin Resources Inc sold 32,022 shares of Halcon Resources stock. The stock was sold at an average price of $7.72, for a total value of $247,209.84.
  • On Tuesday, December 12th, Franklin Resources Inc sold 334,000 shares of Halcon Resources stock. The stock was sold at an average price of $7.71, for a total value of $2,575,140.00.
  • On Wednesday, November 29th, Franklin Resources Inc sold 329,743 shares of Halcon Resources stock. The stock was sold at an average price of $6.67, for a total value of $2,199,385.81.

Shares of Halcon Resources Corporation (NYSE:HK) traded up $0.25 during midday trading on Tuesday, hitting $8.29. The company had a trading volume of 2,146,100 shares, compared to its average volume of 2,482,293. Halcon Resources Corporation has a 52 week low of $3.68 and a 52 week high of $10.30. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $1,200.00, a PE ratio of 2.07 and a beta of 4.04.

Halcon Resources (NYSE:HK) last released its earnings results on Thursday, November 9th. The energy company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.11). Halcon Resources had a net margin of 124.30% and a return on equity of 8.76%. The business had revenue of $96.95 million during the quarter, compared to the consensus estimate of $97.34 million. The company’s revenue was up 319.6% compared to the same quarter last year. research analysts anticipate that Halcon Resources Corporation will post -0.03 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in HK. Anchor Bolt Capital LP bought a new position in Halcon Resources in the third quarter valued at about $27,585,000. Vanguard Group Inc. boosted its stake in shares of Halcon Resources by 113.7% during the second quarter. Vanguard Group Inc. now owns 3,296,119 shares of the energy company’s stock valued at $14,964,000 after purchasing an additional 1,753,923 shares in the last quarter. Senvest Management LLC acquired a new stake in shares of Halcon Resources during the third quarter valued at about $10,098,000. Dimensional Fund Advisors LP acquired a new stake in shares of Halcon Resources during the third quarter valued at about $8,515,000. Finally, State Street Corp boosted its stake in shares of Halcon Resources by 5,676.2% during the second quarter. State Street Corp now owns 1,226,470 shares of the energy company’s stock valued at $5,567,000 after purchasing an additional 1,205,237 shares in the last quarter. Hedge funds and other institutional investors own 94.29% of the company’s stock.

A number of research analysts recently commented on the company. Roth Capital set a $13.00 price target on Halcon Resources and gave the stock a “buy” rating in a research report on Tuesday, January 16th. ValuEngine cut Halcon Resources from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Zacks Investment Research cut Halcon Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. TheStreet upgraded Halcon Resources from a “d+” rating to a “c-” rating in a research report on Wednesday, November 22nd. Finally, Bank of America raised their price target on Halcon Resources from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $10.14.

COPYRIGHT VIOLATION NOTICE: “Insider Selling: Halcon Resources Corporation (HK) Major Shareholder Sells 550,000 Shares of Stock” was originally posted by American Banking News and is the property of of American Banking News. If you are accessing this news story on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark laws. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2018/01/23/insider-selling-halcon-resources-corporation-hk-major-shareholder-sells-550000-shares-of-stock.html.

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.

Insider Buying and Selling by Quarter for Halcon Resources (NYSE:HK)

Receive News & Ratings for Halcon Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Halcon Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply