Zacks Investment Research upgraded shares of Halcon Resources (NYSE:HK) from a hold rating to a buy rating in a report released on Wednesday morning. Zacks Investment Research currently has $4.25 price objective on the energy company’s stock.
According to Zacks, “Halcon Resources Corporation is an energy company engaged in the acquisition, exploration and development of onshore oil and natural gas properties in the United States. The Company operates in Wichita, Wilbarger and Starr Counties in Texas, Pontotoc and Seminole Counties, Oklahoma, and Louisiana. Halcon Resources Corporation, formerly known as RAM Energy Resources, Inc., is based in Louisiana, USA. “
A number of other analysts have also commented on the company. ValuEngine raised Halcon Resources from a sell rating to a hold rating in a research note on Thursday, August 2nd. Bank of America decreased their price objective on 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 Halcon Resources in a research note on Wednesday, July 25th. They set a neutral rating and a $6.00 price objective on the stock. Finally, Imperial Capital decreased their price target on 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 research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Halcon Resources presently has a consensus rating of Buy and a consensus price target of $7.38.
Halcon Resources (NYSE:HK) last posted its quarterly earnings data on Wednesday, August 1st. The energy company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.18. The business had revenue of $55.40 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. Equities analysts predict that Halcon Resources will post -0.03 earnings per share for the current fiscal year.
In other Halcon Resources news, Director Ares Management Llc sold 350,000 shares of the firm’s stock in a transaction dated 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 directly owns 86,857 shares of the company’s stock, valued at approximately $338,742.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.70% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the business. AMP Capital Investors Ltd acquired a new stake in Halcon Resources in the 2nd quarter worth about $101,000. Laurion Capital Management LP acquired a new stake in Halcon Resources in the 2nd quarter worth about $107,000. California Public Employees Retirement System acquired a new stake in Halcon Resources in the 2nd quarter worth about $168,000. Guggenheim Capital LLC lifted its stake in shares of Halcon Resources by 111.3% in the 1st quarter. Guggenheim Capital LLC now owns 54,095 shares of the energy company’s stock valued at $264,000 after purchasing an additional 28,497 shares in the last quarter. Finally, Nisa Investment Advisors LLC acquired a new position in shares of Halcon Resources in the 2nd quarter valued at about $274,000.
About Halcon Resources
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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