Other equities research analysts have also issued reports about the stock. ValuEngine raised shares of Halcon Resources from a sell rating to a hold rating in a report on Thursday, August 2nd. Zacks Investment Research lowered shares of Halcon Resources from a hold rating to a strong sell rating in a report on Wednesday, July 11th. Bank of America reduced their target price on shares of Halcon Resources from $9.00 to $6.00 and set a neutral rating on the stock in a report on Thursday, August 2nd. Finally, JPMorgan Chase & Co. assumed coverage on shares of Halcon Resources in a report on Wednesday, July 25th. They set a neutral rating and a $6.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $7.54.
Shares of Halcon Resources stock traded down $0.08 during midday trading on Friday, hitting $3.66. 125,661 shares of the company traded hands, compared to its average volume of 5,112,195. The firm has a market capitalization of $600.85 million, a PE ratio of -24.43 and a beta of 4.05. 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 12 month low of $3.02 and a 12 month high of $9.07.
In related news, Director Ares Management Llc sold 350,000 shares of the business’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 transaction, the director now owns 86,857 shares in the company, valued at approximately $338,742.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.70% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its holdings in Halcon Resources by 2.4% during the first quarter. Wells Fargo & Company MN now owns 552,211 shares of the energy company’s stock worth $2,690,000 after buying an additional 13,053 shares during the last quarter. AMP Capital Investors Ltd acquired a new position in Halcon Resources during the second quarter worth $101,000. Laurion Capital Management LP acquired a new position in Halcon Resources during the second quarter worth $107,000. Guggenheim Capital LLC raised its holdings in Halcon Resources by 111.3% during the first quarter. Guggenheim Capital LLC now owns 54,095 shares of the energy company’s stock worth $264,000 after buying an additional 28,497 shares during the last quarter. Finally, California Public Employees Retirement System acquired a new position in Halcon Resources during the second quarter worth $168,000.
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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