Ares Management Llc Sells 350,000 Shares of Halcon Resources Corp (HK) Stock

Halcon Resources Corp (NYSE:HK) Director Ares Management Llc sold 350,000 shares of the firm’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 transaction of $1,365,000.00. Following the completion of the sale, the director now owns 86,857 shares in the company, valued at approximately $338,742.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Ares Management Llc also recently made the following trade(s):

  • On Wednesday, August 15th, Ares Management Llc sold 986,276 shares of Halcon Resources stock. The stock was sold at an average price of $3.82, for a total transaction of $3,767,574.32.

Shares of HK stock opened at $3.85 on Friday. Halcon Resources Corp has a 12-month low of $3.56 and a 12-month high of $9.07. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $650.65 million, a P/E ratio of -25.67 and a beta of 4.12.

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

Several brokerages recently issued reports on HK. Imperial Capital dropped their target price on shares of Halcon Resources from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday, August 3rd. Stephens set a $10.00 target price on shares of Halcon Resources and gave the stock a “buy” rating in a report on Tuesday, April 24th. JPMorgan Chase & Co. began coverage on shares of Halcon Resources in a report on Wednesday, July 25th. They issued a “neutral” rating and a $6.00 target price on the stock. ValuEngine upgraded shares of Halcon Resources from a “sell” rating to a “hold” rating in a report on Monday, June 4th. Finally, Zacks Investment Research cut shares of Halcon Resources from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 11th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Halcon Resources has a consensus rating of “Buy” and an average price target of $8.00.

Institutional investors have recently modified their holdings of the company. AMP Capital Investors Ltd purchased a new position in shares of Halcon Resources during the 2nd quarter worth $101,000. Laurion Capital Management LP purchased a new position in shares of Halcon Resources during the 2nd quarter worth $107,000. Point72 Asia Hong Kong Ltd purchased a new position in shares of Halcon Resources during the 1st quarter worth $114,000. Jane Street Group LLC purchased a new position in shares of Halcon Resources during the 4th quarter worth $138,000. Finally, SG Americas Securities LLC purchased a new position in shares of Halcon Resources during the 1st quarter worth $148,000. Institutional investors and hedge funds own 93.31% of the company’s stock.

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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