Imperial Capital Equities Analysts Raise Earnings Estimates for Halcon Resources Co. (HK)

Halcon Resources Co. (NYSE:HK) – Stock analysts at Imperial Capital increased their FY2017 earnings per share estimates for Halcon Resources in a research note issued on Monday. Imperial Capital analyst J. Wangler now expects that the energy company will post earnings of ($0.01) per share for the year, up from their prior estimate of ($0.03).

HK has been the topic of several other research reports. ValuEngine lowered Halcon Resources from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Seaport Global Securities raised Halcon Resources from a “neutral” rating to a “buy” rating and raised their target price for the stock from $7.00 to $8.00 in a research report on Tuesday, October 17th. Zacks Investment Research raised Halcon Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, November 21st. Bank of America cut their target price on Halcon Resources from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 7th. Finally, Roth Capital set a $9.00 target price on Halcon Resources and gave the stock a “buy” rating in a research report 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 assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $9.83.

Shares of Halcon Resources (HK) opened at $6.90 on Wednesday. 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 has a 12-month low of $3.68 and a 12-month high of $9.61. The firm has a market capitalization of $1,160.00, a PE ratio of 11.14 and a beta of 3.97.

In related news, Director Ares Management Llc bought 1,113,466 shares of the stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $6.90 per share, for a total transaction of $7,682,915.40. Following the purchase, the director now owns 53,114 shares of the company’s stock, valued at approximately $366,486.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Franklin Resources Inc sold 1,400,000 shares of Halcon Resources stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $6.58, for a total value of $9,212,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,647,483 shares of company stock worth $59,399,886. 53.90% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in HK. Schwab Charles Investment Management Inc. purchased a new position in shares of Halcon Resources in the 2nd quarter valued at approximately $472,000. Bank of New York Mellon Corp grew its stake in shares of Halcon Resources by 824.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 208,640 shares of the energy company’s stock valued at $947,000 after purchasing an additional 186,081 shares during the last quarter. Swiss National Bank purchased a new position in shares of Halcon Resources in the 2nd quarter valued at approximately $281,000. Alliancebernstein L.P. grew its stake in shares of Halcon Resources by 59.8% in the 2nd quarter. Alliancebernstein L.P. now owns 442,678 shares of the energy company’s stock valued at $2,010,000 after purchasing an additional 165,651 shares during the last quarter. Finally, Teachers Advisors LLC purchased a new stake in shares of Halcon Resources in the second quarter valued at approximately $491,000. Institutional investors own 94.45% of the company’s stock.

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About Halcon Resources

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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