Halcon Resources (HK) Hits New 52-Week Low at $3.24

Shares of Halcon Resources Corp (NYSE:HK) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $3.24 and last traded at $3.46, with a volume of 128836 shares changing hands. The stock had previously closed at $3.40.

Several analysts have issued reports on HK shares. ValuEngine raised shares of Halcon Resources from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Zacks Investment Research downgraded shares of Halcon Resources from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 11th. Bank of America cut their target price on shares of Halcon Resources from $9.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, August 2nd. JPMorgan Chase & Co. started coverage on shares of Halcon Resources in a research note on Wednesday, July 25th. They set a “neutral” rating and a $6.00 target price on the stock. Finally, Imperial Capital cut their target price on shares of Halcon Resources from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday, August 3rd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Halcon Resources currently has an average rating of “Buy” and a consensus target price of $7.38.

The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.55.



Halcon Resources (NYSE:HK) last posted its quarterly earnings results on Wednesday, August 1st. The energy company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.18. Halcon Resources had a net margin of 135.43% and a negative return on equity of 1.03%. The business had revenue of $55.40 million for the quarter, compared to the consensus estimate of $56.07 million. The firm’s revenue for the quarter was down 53.9% compared to the same quarter last year. As a group, equities analysts forecast that Halcon Resources Corp will post -0.01 earnings per share for the current year.

In other news, Director Ares Management Llc sold 986,276 shares of the company’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $3.82, for a total value of $3,767,574.32. Following the transaction, the director now directly owns 86,857 shares of the company’s stock, valued at $331,793.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.70% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN increased its position in Halcon Resources by 2.4% during the first quarter. Wells Fargo & Company MN now owns 552,211 shares of the energy company’s stock worth $2,690,000 after buying an additional 13,053 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in Halcon Resources by 25.2% during the first quarter. Cubist Systematic Strategies LLC now owns 73,390 shares of the energy company’s stock worth $357,000 after buying an additional 14,784 shares during the last quarter. AMP Capital Investors Ltd acquired a new position in Halcon Resources during the second quarter worth $101,000. Laurion Capital Management LP acquired a new position in Halcon Resources during the second quarter worth $107,000. Finally, Guggenheim Capital LLC increased its position in Halcon Resources by 111.3% during the first quarter. Guggenheim Capital LLC now owns 54,095 shares of the energy company’s stock worth $264,000 after buying an additional 28,497 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.

See Also: Liquidity

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