Halcon Resources Corporation (NYSE:HK)’s share price dropped 7.7% on Thursday following insider selling activity. The company traded as low as $4.87 and last traded at $4.75, with a volume of 3,098,574 shares changing hands. The stock had previously closed at $5.14.
Specifically, Director Sylvia K. Barnes purchased 20,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were acquired at an average cost of $5.34 per share, with a total value of $106,800.00. Following the completion of the purchase, the director now owns 23,757 shares of the company’s stock, valued at approximately $126,862.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Franklin Resources Inc sold 746,173 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $6.07, for a total transaction of $4,529,270.11. The disclosure for this sale can be found here. Insiders sold 895,245 shares of company stock worth $5,663,206 over the last ninety days. 2.80% of the stock is currently owned by company insiders.
Several equities analysts have commented on HK shares. Zacks Investment Research downgraded shares of Halcon Resources Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, March 15th. Scotiabank set a $15.00 target price on shares of Halcon Resources Corporation and gave the stock a “buy” rating in a research report on Thursday, March 2nd. Barclays PLC reissued a “sell” rating and set a $9.00 target price on shares of Halcon Resources Corporation in a research report on Friday, March 3rd. Johnson Rice raised shares of Halcon Resources Corporation from a “hold” rating to an “accumulate” rating in a research report on Wednesday, March 1st. Finally, ValuEngine raised shares of Halcon Resources Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $11.04.
The stock’s 50 day moving average is $6.33 and its 200 day moving average is $7.83. The firm has a market cap of $404.34 million, a P/E ratio of 1.90 and a beta of 3.83.
Halcon Resources Corporation (NYSE:HK) last released its quarterly earnings data on Wednesday, May 3rd. The energy company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. The company had revenue of $135.60 million for the quarter, compared to analyst estimates of $144.13 million. Halcon Resources Corporation had a negative net margin of 168.09% and a positive return on equity of 725.38%. On average, analysts predict that Halcon Resources Corporation will post $0.36 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UBS Oconnor LLC purchased a new position in Halcon Resources Corporation during the first quarter valued at $30,285,000. Point72 Asset Management L.P. purchased a new position in Halcon Resources Corporation during the first quarter valued at $17,949,000. Citadel Advisors LLC raised its position in Halcon Resources Corporation by 7,058.2% in the first quarter. Citadel Advisors LLC now owns 2,142,313 shares of the energy company’s stock valued at $16,496,000 after buying an additional 2,112,385 shares in the last quarter. Paloma Partners Management Co raised its position in Halcon Resources Corporation by 3,565.1% in the first quarter. Paloma Partners Management Co now owns 1,308,800 shares of the energy company’s stock valued at $10,078,000 after buying an additional 1,273,090 shares in the last quarter. Finally, York Capital Management Global Advisors LLC purchased a new position in Halcon Resources Corporation during the first quarter valued at $4,620,000. Institutional investors own 78.61% of the company’s stock.
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About Halcon Resources Corporation
Halcon Resources Corporation is an independent energy company focused on the acquisition, production, exploration and development of onshore liquids-rich oil and natural gas assets in the United States. The Company’s estimated total proved oil and natural gas reserves are approximately 146.8 million barrels of oil equivalent (MMBoe), consisting of over 120.7 million barrels of oil (MMBbls), approximately 13.0 MMBbls of natural gas liquids and over 78.4 billion cubic feet (Bcf) of natural gas.
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