Halcon Resources (HK) Shares Gap Down to $3.48

Halcon Resources Corp (NYSE:HK)’s share price gapped down before the market opened on Friday . The stock had previously closed at $3.45, but opened at $3.48. Halcon Resources shares last traded at $3.40, with a volume of 85459 shares changing hands.

Several brokerages have recently issued reports on HK. JPMorgan Chase & Co. began coverage on Halcon Resources in a report on Wednesday, July 25th. They set a “neutral” rating and a $6.00 price target for the company. ValuEngine upgraded Halcon Resources from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Bank of America reduced their price target on Halcon Resources from $9.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, August 2nd. Imperial Capital reduced their price target on Halcon Resources from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Friday, August 3rd. Finally, Zacks Investment Research upgraded Halcon Resources from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Halcon Resources currently has a consensus rating of “Hold” and a consensus target price of $7.54.

The firm has a market cap of $602.46 million, a PE ratio of -22.07 and a beta of 4.05. 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 announced its quarterly earnings results on Wednesday, November 7th. The energy company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.01). The firm had revenue of $61.60 million for the quarter, compared to analyst estimates of $58.33 million. Halcon Resources had a net margin of 135.43% and a negative return on equity of 1.03%. The firm’s quarterly revenue was down 36.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. Equities research analysts expect that Halcon Resources Corp will post -0.01 EPS for the current year.

In related 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 completion of the sale, the director now directly owns 86,857 shares in the company, valued at approximately $338,742.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.70% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. AMP Capital Investors Ltd acquired a new stake in Halcon Resources in the 2nd quarter worth approximately $101,000. Laurion Capital Management LP acquired a new stake in Halcon Resources in the 2nd quarter worth approximately $107,000. California Public Employees Retirement System acquired a new stake in Halcon Resources in the 2nd quarter worth approximately $168,000. Guggenheim Capital LLC lifted its holdings in Halcon Resources by 111.3% in 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, Nisa Investment Advisors LLC acquired a new stake in Halcon Resources in the 2nd quarter worth approximately $274,000.

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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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