Shares of Halcon Resources Corp (NYSE:HK) have received a consensus rating of “Buy” from the ten ratings firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $7.57.
Several brokerages have recently weighed in on HK. ValuEngine downgraded Halcon Resources from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Imperial Capital lowered their target price on Halcon Resources from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Friday, August 3rd. JPMorgan Chase & Co. began coverage on Halcon Resources in a research note on Wednesday, July 25th. They set a “neutral” rating and a $6.00 target price for the company. Zacks Investment Research upgraded Halcon Resources from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. Finally, Bank of America lowered their target price on Halcon Resources from $9.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, August 2nd.
Shares of NYSE HK opened at $3.92 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $718.13 million, a P/E ratio of -26.13 and a beta of 4.29. Halcon Resources has a 12-month low of $3.56 and a 12-month high of $9.07.
Halcon Resources (NYSE:HK) last announced its earnings results on Wednesday, August 1st. The energy company reported $0.15 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.18. The company had revenue of $55.40 million during the quarter, compared to the consensus estimate of $56.07 million. Halcon Resources had a negative return on equity of 1.03% and a net margin of 135.43%. The firm’s quarterly revenue was down 53.9% compared to the same quarter last year. On average, analysts forecast that Halcon Resources will post -0.03 earnings per share for the current year.
In other news, Director Ares Management Llc sold 986,276 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $3.82, for a total transaction of $3,767,574.32. Following the completion of the sale, the director now directly owns 86,857 shares in the company, valued at $331,793.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.70% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Sanders Morris Harris LLC grew its stake in Halcon Resources by 41.9% in the third quarter. Sanders Morris Harris LLC now owns 878,551 shares of the energy company’s stock worth $3,928,000 after purchasing an additional 259,500 shares in the last quarter. Fondren Management LP acquired a new position in Halcon Resources in the second quarter worth about $1,734,000. Bank of New York Mellon Corp grew its stake in Halcon Resources by 21.2% in the second quarter. Bank of New York Mellon Corp now owns 1,155,804 shares of the energy company’s stock worth $5,075,000 after purchasing an additional 201,923 shares in the last quarter. California Public Employees Retirement System acquired a new position in Halcon Resources in the second quarter worth about $168,000. Finally, Paloma Partners Management Co grew its stake in Halcon Resources by 1,552.6% in the second quarter. Paloma Partners Management Co now owns 358,552 shares of the energy company’s stock worth $1,574,000 after purchasing an additional 336,856 shares in the last quarter.
Halcon Resources Company Profile
Halcón Resources Corporation, an independent energy company, engages in the acquisition, production, exploration, and development of onshore oil and natural gas assets in the United States. As of February 28, 2018, the company held interests in 21,679 net acres in the Monument Draw area of the Delaware Basin, located in Pecos and Reeves Counties, Texas; and 27,035 net acres in the Hackberry Draw area of the Delaware Basin, located in Pecos and Reeves Counties, Texas.
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