Halcon Resources (NYSE:HK) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Halcon Resources (NYSE:HK) from a buy rating to a hold rating in a research report report published on Thursday morning, Zacks.com reports.

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. “

Several other research analysts also recently weighed in on HK. ValuEngine downgraded shares of Zosano Pharma from a buy rating to a hold rating in a research report on Wednesday, May 1st. Roth Capital set a $33.00 target price on shares of Stemline Therapeutics and gave the stock a buy rating in a research report on Friday, May 10th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $4.11.



Halcon Resources stock opened at $0.21 on Thursday. The stock has a 50 day moving average price of $0.20. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.72. Halcon Resources has a fifty-two week low of $0.16 and a fifty-two week high of $4.90.

Halcon Resources (NYSE:HK) last released its earnings results on Thursday, May 9th. The energy company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.08. The business had revenue of $51.92 million for the quarter, compared to the consensus estimate of $59.49 million. Halcon Resources had a negative net margin of 125.62% and a negative return on equity of 0.03%. On average, equities research analysts predict that Halcon Resources will post -0.23 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. RBF Capital LLC purchased a new position in Halcon Resources during the fourth quarter valued at approximately $323,000. Sanders Morris Harris LLC grew its position in Halcon Resources by 92.1% during the first quarter. Sanders Morris Harris LLC now owns 1,178,797 shares of the energy company’s stock valued at $1,592,000 after purchasing an additional 565,100 shares in the last quarter. JPMorgan Chase & Co. grew its position in Halcon Resources by 2.0% during the first quarter. JPMorgan Chase & Co. now owns 4,079,439 shares of the energy company’s stock valued at $5,507,000 after purchasing an additional 79,710 shares in the last quarter. Geode Capital Management LLC grew its position in Halcon Resources by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 1,506,581 shares of the energy company’s stock valued at $2,561,000 after purchasing an additional 56,810 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Halcon Resources by 29.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,159,837 shares of the energy company’s stock valued at $13,872,000 after purchasing an additional 1,870,829 shares in the last quarter.

Halcon Resources Company Profile

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 December 31, 2018, the company held interests in 56,900 net acres in the Delaware Basin, located in Pecos, Reeves, Ward, and Winkler Counties, Texas.

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