Shares of Halcon Resources Corp (NYSE:HK) have received a consensus rating of “Buy” from the eleven analysts that are presently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $8.00.
HK has been the subject of a number of analyst reports. ValuEngine cut shares of Halcon Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, May 17th. JPMorgan Chase & Co. initiated coverage on shares of Halcon Resources in a research note on Wednesday, July 25th. They issued a “neutral” rating and a $6.00 price objective for the company. Zacks Investment Research cut shares of Halcon Resources from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 11th. Bank of America reduced their price objective on shares of Halcon Resources from $9.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, August 2nd. Finally, Stephens set a $10.00 price objective on shares of Halcon Resources and gave the stock a “buy” rating in a research note on Tuesday, April 24th.
Shares of Halcon Resources stock traded up $0.14 on Tuesday, reaching $4.14. The stock had a trading volume of 3,653,849 shares, compared to its average volume of 4,104,622. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.55. Halcon Resources has a fifty-two week low of $3.56 and a fifty-two week high of $9.07. The stock has a market capitalization of $634.59 million, a price-to-earnings ratio of -27.60 and a beta of 4.12.
Halcon Resources (NYSE:HK) last issued its quarterly earnings data on Wednesday, August 1st. The energy company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.18. Halcon Resources had a net margin of 135.43% and a negative return on equity of 1.03%. The business had revenue of $55.40 million during the quarter, compared to analysts’ expectations of $56.07 million. Halcon Resources’s revenue was down 53.9% compared to the same quarter last year. research analysts predict that Halcon Resources will post -0.03 earnings per share for the current year.
In related news, Director Ares Management Llc sold 350,000 shares of the company’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $3.90, for a total transaction of $1,365,000.00. Following the completion of the transaction, the director now directly owns 86,857 shares in the company, valued at approximately $338,742.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.70% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in HK. California Public Employees Retirement System bought a new stake in Halcon Resources in the 2nd quarter valued at $168,000. Paloma Partners Management Co increased its holdings in Halcon Resources by 1,552.6% in the 2nd quarter. Paloma Partners Management Co now owns 358,552 shares of the energy company’s stock valued at $1,574,000 after buying an additional 336,856 shares during the period. Point72 Asset Management L.P. bought a new stake in Halcon Resources in the 2nd quarter valued at $4,293,000. Sound Point Capital Management LP increased its holdings in Halcon Resources by 4.7% in the 2nd quarter. Sound Point Capital Management LP now owns 2,206,639 shares of the energy company’s stock valued at $9,687,000 after buying an additional 100,000 shares during the period. Finally, Luminus Management LLC bought a new stake in Halcon Resources in the 2nd quarter valued at $10,785,000.
About Halcon Resources
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.
Read More: Trading Strategy Examples and Plans
Receive News & Ratings for Halcon Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Halcon Resources and related companies with MarketBeat.com's FREE daily email newsletter.