Halcon Resources Co. (NYSE:HK) – Equities research analysts at Capital One Financial lowered their FY2018 earnings per share estimates for Halcon Resources in a research note issued to investors on Monday. Capital One Financial analyst B. Velie now forecasts that the energy company will earn $0.22 per share for the year, down from their prior estimate of $0.27.
HK has been the subject of a number of other reports. Roth Capital set a $13.00 price objective on Halcon Resources and gave the company a “buy” rating in a research note on Tuesday, January 16th. Zacks Investment Research cut Halcon Resources from a “hold” rating to a “sell” rating in a research note on Thursday, January 25th. ValuEngine cut Halcon Resources from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Bank of America dropped their price objective on Halcon Resources from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, February 7th. Finally, TheStreet raised Halcon Resources from a “d+” rating to a “c-” rating in a research note on Wednesday, November 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $9.83.
In related news, major shareholder Franklin Resources Inc sold 800,000 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $8.57, for a total transaction of $6,856,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ares Management Llc bought 1,113,466 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average cost of $6.90 per share, with a total value of $7,682,915.40. Following the completion of the purchase, the director now directly owns 53,114 shares in the company, valued at $366,486.60. The disclosure for this purchase can be found here. Insiders have sold a total of 7,647,483 shares of company stock valued at $59,399,886 over the last three months. 53.90% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. purchased a new stake in Halcon Resources during the 2nd quarter worth about $472,000. Bank of New York Mellon Corp lifted its holdings 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 stake in shares of Halcon Resources in the 2nd quarter valued at about $281,000. Alliancebernstein L.P. lifted its holdings 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 2nd quarter valued at about $491,000. 94.45% of the stock is owned by hedge funds and other institutional investors.
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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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