Halcon Resources Corporation (NYSE:HK) – Investment analysts at Imperial Capital lowered their FY2018 EPS estimates for Halcon Resources Corporation in a research note issued on Friday. Imperial Capital analyst J. Wangler now forecasts that the energy company will earn $0.27 per share for the year, down from their previous forecast of $0.37. Imperial Capital has a “Outperform” rating and a $9.00 price target on the stock.
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Several other brokerages have also issued reports on HK. Zacks Investment Research raised shares of Halcon Resources Corporation from a “sell” rating to a “hold” rating in a research note on Friday, April 14th. ValuEngine raised shares of Halcon Resources Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 23rd. Seaport Global Securities reissued a “buy” rating and set a $10.00 target price on shares of Halcon Resources Corporation in a research note on Tuesday, May 23rd. Barclays PLC reissued an “underweight” rating and set a $8.00 target price (down from $9.00) on shares of Halcon Resources Corporation in a research note on Saturday, April 22nd. Finally, Scotiabank set a $12.00 target price on shares of Halcon Resources Corporation and gave the stock a “buy” rating in a research note on Tuesday, May 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $9.41.
Shares of Halcon Resources Corporation (NYSE HK) traded up 1.98% during midday trading on Monday, hitting $6.18. 1,162,481 shares of the company were exchanged. The firm has a market capitalization of $927.62 million, a price-to-earnings ratio of 0.88 and a beta of 3.99. The firm’s 50 day moving average price is $5.45 and its 200 day moving average price is $7.02. Halcon Resources Corporation has a one year low of $3.68 and a one year high of $13.85.
Several hedge funds have recently made changes to their positions in the stock. BlueCrest Capital Management Ltd purchased a new stake in shares of Halcon Resources Corporation during the first quarter valued at approximately $558,000. Airain ltd purchased a new stake in shares of Halcon Resources Corporation during the first quarter valued at approximately $222,000. Paloma Partners Management Co increased its stake in shares of Halcon Resources Corporation by 3,565.1% in the first quarter. Paloma Partners Management Co now owns 1,308,800 shares of the energy company’s stock valued at $10,078,000 after buying an additional 1,273,090 shares in the last quarter. Peconic Partners LLC purchased a new stake in shares of Halcon Resources Corporation during the first quarter valued at approximately $385,000. Finally, Bank of Nova Scotia purchased a new stake in shares of Halcon Resources Corporation during the first quarter valued at approximately $770,000. Institutional investors own 78.62% of the company’s stock.
In other Halcon Resources Corporation news, Director Sylvia K. Barnes acquired 20,000 shares of the stock in a transaction on Wednesday, June 14th. The shares were purchased at an average price of $5.34 per share, for a total transaction of $106,800.00. Following the completion of the acquisition, the director now owns 23,757 shares in the company, valued at approximately $126,862.38. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Franklin Resources Inc sold 31,341 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $6.73, for a total transaction of $210,924.93. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.
About Halcon Resources Corporation
Halcon Resources Corporation is an independent energy company focused on the acquisition, production, exploration and development of onshore liquids-rich oil and natural gas assets in the United States. The Company’s estimated total proved oil and natural gas reserves are approximately 146.8 million barrels of oil equivalent (MMBoe), consisting of over 120.7 million barrels of oil (MMBbls), approximately 13.0 MMBbls of natural gas liquids and over 78.4 billion cubic feet (Bcf) of natural gas.
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