Halcon Resources Corp (HK) Short Interest Update

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Halcon Resources Corp (NYSE:HK) was the target of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 31,933,149 shares, a decline of 10.1% from the January 15th total of 35,518,879 shares. Approximately 21.8% of the company’s shares are sold short. Based on an average daily volume of 3,441,234 shares, the short-interest ratio is currently 9.3 days.

HK has been the subject of several recent research reports. Roth Capital lowered their price target on shares of Halcon Resources from $13.00 to $3.50 and set a “buy” rating for the company in a research note on Monday, January 28th. Zacks Investment Research downgraded shares of Halcon Resources from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. Capital One Financial downgraded shares of Halcon Resources from an “overweight” rating to an “underweight” rating in a research note on Thursday, December 20th. Imperial Capital lowered their price target on shares of Halcon Resources from $6.00 to $3.00 and set an “outperform” rating for the company in a research note on Thursday, December 27th. Finally, JPMorgan Chase & Co. downgraded shares of Halcon Resources from a “neutral” rating to an “underweight” rating in a research note on Friday, December 7th. Four analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $5.11.

Several hedge funds have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. increased its position in shares of Halcon Resources by 116.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 22,634 shares of the energy company’s stock valued at $38,000 after acquiring an additional 12,168 shares during the period. United Services Automobile Association increased its position in shares of Halcon Resources by 38.3% in the fourth quarter. United Services Automobile Association now owns 45,407 shares of the energy company’s stock valued at $77,000 after acquiring an additional 12,580 shares during the period. Virtu Financial LLC increased its position in shares of Halcon Resources by 102.4% in the fourth quarter. Virtu Financial LLC now owns 42,241 shares of the energy company’s stock valued at $72,000 after acquiring an additional 21,375 shares during the period. MetLife Investment Advisors LLC increased its position in shares of Halcon Resources by 57.9% in the third quarter. MetLife Investment Advisors LLC now owns 100,658 shares of the energy company’s stock valued at $450,000 after acquiring an additional 36,902 shares during the period. Finally, California Public Employees Retirement System purchased a new position in shares of Halcon Resources in the second quarter valued at about $168,000.

HK stock opened at $1.67 on Thursday. Halcon Resources has a 12-month low of $1.43 and a 12-month high of $7.13. The stock has a market capitalization of $257.07 million, a price-to-earnings ratio of -11.13 and a beta of 3.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.33 and a current ratio of 0.33.

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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.

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