Halcon Resources (HK) Downgraded by Zacks Investment Research

Halcon Resources (NYSE:HK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.

According to Zacks, “Halcon Resources Corporation is an energy company engaged in the acquisition, exploration and development of onshore oil and natural gas properties in the United States. The Company operates in Wichita, Wilbarger and Starr Counties in Texas, Pontotoc and Seminole Counties, Oklahoma, and Louisiana. Halcon Resources Corporation, formerly known as RAM Energy Resources, Inc., is based in Louisiana, USA. “

A number of other analysts have also weighed in on the company. Seaport Global Securities raised Halcon Resources from a “neutral” rating to a “buy” rating and increased their price objective for the company from $7.00 to $8.00 in a research note on Tuesday, October 17th. TheStreet raised Halcon Resources from a “d+” rating to a “c-” rating in a research note on Wednesday, November 22nd. 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 note on Friday, November 10th. ValuEngine lowered Halcon Resources from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Finally, Roth Capital set a $9.00 price target on Halcon Resources and gave the stock a “buy” rating in a research note on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $9.83.

Halcon Resources (NYSE HK) traded up $0.18 during trading hours on Thursday, hitting $8.52. The stock had a trading volume of 3,471,663 shares, compared to its average volume of 2,460,000. The stock has a market capitalization of $1,250.00, a price-to-earnings ratio of 2.12 and a beta of 4.04. Halcon Resources has a 52-week low of $3.68 and a 52-week high of $9.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.91 and a current ratio of 1.91.

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

In related news, major shareholder Franklin Resources Inc sold 374,817 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $6.84, for a total value of $2,563,748.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 8,609,719 shares of company stock valued at $64,524,318 in the last ninety days. 53.90% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. purchased a new position in Halcon Resources during the second quarter valued at $472,000. Vanguard Group Inc. lifted its position in 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 buying an additional 1,753,923 shares during the period. Vident Investment Advisory LLC purchased a new position in Halcon Resources during the third quarter valued at $2,512,000. Bank of New York Mellon Corp lifted its position in Halcon Resources by 184.5% during the third quarter. Bank of New York Mellon Corp now owns 593,574 shares of the energy company’s stock valued at $4,036,000 after buying an additional 384,934 shares during the period. Finally, Janus Henderson Group PLC purchased a new position in Halcon Resources during the second quarter valued at $1,496,000. 94.29% of the stock is owned by institutional investors and hedge funds.

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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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