Halcon Resources (HK) Shares Down 5.6%

Halcon Resources Corp (NYSE:HK) shares were down 5.6% on Friday . The company traded as low as $1.80 and last traded at $1.87. Approximately 6,036,346 shares traded hands during trading, an increase of 25% from the average daily volume of 4,845,081 shares. The stock had previously closed at $1.98.

A number of research analysts have recently weighed in on HK shares. Zacks Investment Research upgraded Halcon Resources from a “hold” rating to a “buy” rating and set a $4.25 price objective for the company in a research report on Wednesday, October 24th. Imperial Capital dropped their price target on Halcon Resources from $6.00 to $3.00 and set an “outperform” rating for the company in a research report on Thursday, December 27th. Bank of America lowered Halcon Resources from a “neutral” rating to an “underperform” rating in a research report on Friday, January 4th. JPMorgan Chase & Co. lowered Halcon Resources from a “neutral” rating to an “underweight” rating in a research report on Friday, December 7th. Finally, Capital One Financial lowered Halcon Resources from an “overweight” rating to an “underweight” rating in a research report on Thursday, December 20th. Five analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Halcon Resources has a consensus rating of “Hold” and a consensus price target of $6.46.

The stock has a market capitalization of $321.34 million, a P/E ratio of -12.47 and a beta of 4.03. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.64.

Halcon Resources (NYSE:HK) last announced its earnings results on Wednesday, November 7th. The energy company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.01). Halcon Resources had a negative net margin of 101.20% and a negative return on equity of 1.05%. The business had revenue of $61.60 million for the quarter, compared to analysts’ expectations of $58.33 million. During the same quarter last year, the firm earned ($0.06) EPS. The firm’s quarterly revenue was down 36.5% on a year-over-year basis. On average, analysts expect that Halcon Resources Corp will post -0.04 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the business. AMP Capital Investors Ltd purchased a new position in shares of Halcon Resources during the second quarter valued at approximately $101,000. Laurion Capital Management LP purchased a new position in shares of Halcon Resources during the second quarter valued at approximately $107,000. California Public Employees Retirement System purchased a new position in shares of Halcon Resources during the second quarter valued at approximately $168,000. Jane Street Group LLC boosted its position in shares of Halcon Resources by 287.0% during the third quarter. Jane Street Group LLC now owns 64,151 shares of the energy company’s stock valued at $287,000 after buying an additional 47,574 shares during the period. Finally, MetLife Investment Advisors LLC boosted its position in shares of Halcon Resources by 57.9% during the third quarter. MetLife Investment Advisors LLC now owns 100,658 shares of the energy company’s stock valued at $450,000 after buying an additional 36,902 shares during the period.

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Halcon Resources Company Profile (NYSE:HK)

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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