Halcon Resources Co. (NYSE:HK)’s share price dropped 6.4% during mid-day trading on Friday . The company traded as low as $4.93 and last traded at $5.11. Approximately 4,565,667 shares traded hands during trading, an increase of 27% from the average daily volume of 3,598,915 shares. The stock had previously closed at $5.46.
HK has been the subject of a number of recent analyst reports. Roth Capital set a $13.00 price objective on Halcon Resources and gave the company a “buy” rating in a report on Tuesday, January 16th. Stephens restated a “buy” rating and set a $13.00 price objective on shares of Halcon Resources in a report on Monday, February 26th. TheStreet cut Halcon Resources from a “c-” rating to a “d+” rating in a report on Tuesday, March 20th. Zacks Investment Research upgraded Halcon Resources from a “sell” rating to a “hold” rating in a report on Wednesday, March 14th. Finally, Bank of America dropped their price objective on Halcon Resources from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. Halcon Resources has a consensus rating of “Hold” and a consensus price target of $10.29.
The firm has a market capitalization of $796.10, a price-to-earnings ratio of -34.07 and a beta of 3.95. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.38.
In other news, major shareholder Franklin Resources Inc sold 265,143 shares of the business’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $7.76, for a total value of $2,057,509.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Darryl Schall purchased 7,000 shares of Halcon Resources stock in a transaction dated Monday, March 5th. The stock was bought at an average cost 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 quarter, insiders acquired 1,170,466 shares of company stock valued at $7,982,275 and sold 4,107,879 shares valued at $34,137,077. 53.90% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in HK. Anchor Bolt Capital LP bought a new position in shares of Halcon Resources in the 3rd quarter worth $27,585,000. William Blair Investment Management LLC bought a new position in shares of Halcon Resources in the 4th quarter worth $12,543,000. Renaissance Technologies LLC raised its position in shares of Halcon Resources by 244.2% in the 4th quarter. Renaissance Technologies LLC now owns 2,300,395 shares of the energy company’s stock worth $17,414,000 after acquiring an additional 1,631,995 shares in the last quarter. Nokomis Capital L.L.C. raised its position in shares of Halcon Resources by 301.0% in the 4th quarter. Nokomis Capital L.L.C. now owns 1,764,486 shares of the energy company’s stock worth $13,357,000 after acquiring an additional 1,324,486 shares in the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in shares of Halcon Resources in the 3rd quarter worth $8,515,000. 91.44% of the stock is owned by hedge funds and other institutional investors.
About Halcon Resources
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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