Halcon Resources (HK) Shares Gap Down to $4.01

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Halcon Resources Corp (NYSE:HK)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $4.11, but opened at $4.01. Halcon Resources shares last traded at $3.97, with a volume of 5300956 shares traded.

HK has been the topic of several recent analyst reports. ValuEngine upgraded Halcon Resources from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Zacks Investment Research upgraded Halcon Resources from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. Bank of America cut their price objective on Halcon Resources from $9.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, August 2nd. JPMorgan Chase & Co. initiated coverage on Halcon Resources in a report on Wednesday, July 25th. They set a “neutral” rating and a $6.00 price objective on the stock. Finally, Imperial Capital cut their price objective on Halcon Resources from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday, August 3rd. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $7.50.

The company has a market cap of $637.80 million, a P/E ratio of -26.53 and a beta of 4.29. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.55.

Halcon Resources (NYSE:HK) last released its earnings results on Wednesday, August 1st. The energy company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.18. The firm had revenue of $55.40 million for the quarter, compared to analysts’ expectations of $56.07 million. Halcon Resources had a negative return on equity of 1.03% and a net margin of 135.43%. The company’s revenue was down 53.9% compared to the same quarter last year. As a group, equities analysts forecast that Halcon Resources Corp will post -0.03 earnings per share for the current year.

In other Halcon Resources news, Director Ares Management Llc sold 350,000 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $3.90, for a total value of $1,365,000.00. Following the sale, the director now owns 86,857 shares in the company, valued at approximately $338,742.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.70% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AMP Capital Investors Ltd bought a new stake in Halcon Resources in the 2nd quarter valued at approximately $101,000. Laurion Capital Management LP acquired a new position in shares of Halcon Resources during the 2nd quarter worth approximately $107,000. California Public Employees Retirement System acquired a new position in shares of Halcon Resources during the 2nd quarter worth approximately $168,000. Guggenheim Capital LLC increased its position in shares of Halcon Resources by 111.3% during the 1st quarter. Guggenheim Capital LLC now owns 54,095 shares of the energy company’s stock worth $264,000 after purchasing an additional 28,497 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of Halcon Resources by 533.4% during the 1st quarter. Sei Investments Co. now owns 58,604 shares of the energy company’s stock worth $285,000 after purchasing an additional 49,352 shares during the last quarter.

Halcon Resources Company Profile (NYSE:HK)

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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