Halcon Resources (HK) Shares Gap Down to $5.02

Halcon Resources Co. (NYSE:HK) gapped down prior to trading on Friday . The stock had previously closed at $4.90, but opened at $5.02. Halcon Resources shares last traded at $4.89, with a volume of 6145291 shares traded.

Several brokerages have recently issued reports on HK. Zacks Investment Research raised Halcon Resources from a “sell” rating to a “hold” rating in a report on Wednesday, March 14th. TheStreet cut Halcon Resources from a “c-” rating to a “d+” rating in a research note on Tuesday. Bank of America reduced their price objective on Halcon Resources from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 7th. Roth Capital set a $13.00 price objective on Halcon Resources and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Finally, Stephens reissued a “buy” rating and set a $13.00 price objective on shares of Halcon Resources in a research note on Monday, February 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $10.29.

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The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.38. The firm has a market cap of $832.58, a P/E ratio of 1.31 and a beta of 3.97.

Halcon Resources (NYSE:HK) last issued its quarterly earnings data on Wednesday, February 28th. The energy company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.07). Halcon Resources had a negative return on equity of 2.12% and a net margin of 141.73%. The company had revenue of $25.28 million for the quarter, compared to the consensus estimate of $27.11 million. During the same period in the previous year, the firm earned $0.66 earnings per share. The company’s revenue was down 80.6% compared to the same quarter last year. equities research analysts expect that Halcon Resources Co. will post 0.11 EPS for the current fiscal year.

In other Halcon Resources news, CEO Floyd C. Wilson bought 50,000 shares of the company’s stock in a transaction on Friday, March 9th. The stock was acquired at an average price of $5.22 per share, for a total transaction of $261,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,669,486 shares of the company’s stock, valued at $8,714,716.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Darryl Schall bought 7,000 shares of the company’s stock in a transaction on Monday, March 5th. The shares were acquired at an average price of $5.48 per share, with a total value of $38,360.00. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 1,170,466 shares of company stock worth $7,982,275 and have sold 5,053,361 shares worth $41,695,602. Insiders own 53.90% of the company’s stock.

Several large investors have recently made changes to their positions in the business. William Blair Investment Management LLC purchased a new position in shares of Halcon Resources during the fourth quarter valued at approximately $12,543,000. MetLife Investment Advisors LLC purchased a new position in shares of Halcon Resources during the fourth quarter valued at approximately $483,000. Gotham Asset Management LLC purchased a new position in shares of Halcon Resources during the fourth quarter valued at approximately $124,000. Macquarie Group Ltd. purchased a new position in shares of Halcon Resources during the fourth quarter valued at approximately $188,000. Finally, Vident Investment Advisory LLC boosted its position in shares of Halcon Resources by 6.5% during the fourth quarter. Vident Investment Advisory LLC now owns 393,504 shares of the energy company’s stock valued at $2,979,000 after buying an additional 24,046 shares during the period. Institutional investors and hedge funds own 91.44% of the company’s stock.

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Halcon Resources Company Profile

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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