Franklin Resources Inc. decreased its holdings in Halcon Resources Co. (NYSE:HK) by 28.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,919,605 shares of the energy company’s stock after selling 8,103,331 shares during the quarter. Franklin Resources Inc. owned about 12.65% of Halcon Resources worth $147,943,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in HK. Alambic Investment Management L.P. purchased a new position in shares of Halcon Resources in the fourth quarter valued at $104,000. Virtu Financial LLC purchased a new position in shares of Halcon Resources in the fourth quarter valued at $121,000. Amalgamated Bank purchased a new position in shares of Halcon Resources in the third quarter valued at $109,000. SG Americas Securities LLC increased its position in shares of Halcon Resources by 45.6% in the third quarter. SG Americas Securities LLC now owns 25,999 shares of the energy company’s stock valued at $177,000 after buying an additional 8,137 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of Halcon Resources in the fourth quarter valued at $198,000. Hedge funds and other institutional investors own 91.44% of the company’s stock.
Shares of Halcon Resources Co. (NYSE HK) opened at $5.43 on Wednesday. Halcon Resources Co. has a 52-week low of $3.68 and a 52-week high of $9.07. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.14 and a quick ratio of 3.14.
In related news, Director Ares Management Llc acquired 1,113,466 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $6.90 per share, for a total transaction of $7,682,915.40. Following the transaction, the director now owns 53,114 shares in the company, valued at approximately $366,486.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Franklin Resources Inc sold 800,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $8.57, for a total value of $6,856,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 1,170,466 shares of company stock valued at $7,982,275 and have sold 5,085,383 shares valued at $41,942,812. Company insiders own 53.90% of the company’s stock.
A number of research analysts have recently weighed in on HK shares. Stephens restated a “buy” rating and issued a $13.00 price target on shares of Halcon Resources in a research report on Monday, February 26th. Roth Capital set a $13.00 price target on Halcon Resources and gave the company a “buy” rating in a research report on Tuesday, January 16th. TheStreet upgraded Halcon Resources from a “d+” rating to a “c-” rating in a research report on Wednesday, November 22nd. Zacks Investment Research upgraded Halcon Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, November 21st. Finally, 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 report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $10.29.
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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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