Koch Industries Inc. increased its stake in Halcon Resources Co. (NYSE:HK) by 45.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,754 shares of the energy company’s stock after buying an additional 8,920 shares during the period. Koch Industries Inc.’s holdings in Halcon Resources were worth $221,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in HK. Segantii Capital Management Ltd raised its position in shares of Halcon Resources by 567.0% in the first quarter. Segantii Capital Management Ltd now owns 76,700 shares of the energy company’s stock valued at $591,000 after buying an additional 65,200 shares during the last quarter. Laurion Capital Management LP bought a new position in shares of Halcon Resources during the first quarter valued at $1,510,000. Wellington Management Group LLP bought a new position in shares of Halcon Resources during the first quarter valued at $1,139,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Halcon Resources during the first quarter valued at $140,000. Finally, Clinton Group Inc. bought a new position in shares of Halcon Resources during the first quarter valued at $119,000. Institutional investors and hedge funds own 84.82% of the company’s stock.
Halcon Resources Co. (NYSE:HK) traded up 2.40% during mid-day trading on Friday, hitting $5.97. 2,195,141 shares of the stock were exchanged. The company has a 50-day moving average price of $6.61 and a 200-day moving average price of $8.02. Halcon Resources Co. has a one year low of $5.57 and a one year high of $19.10. The company has a market cap of $544.91 million, a P/E ratio of 2.56 and a beta of 3.42.
Halcon Resources (NYSE:HK) last issued its quarterly earnings results on Wednesday, May 3rd. The energy company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. Halcon Resources had a negative return on equity of 42.63% and a negative net margin of 538.20%. The company had revenue of $135.60 million during the quarter, compared to analyst estimates of $144.13 million. On average, analysts predict that Halcon Resources Co. will post $0.36 earnings per share for the current fiscal year.
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HK has been the topic of several research reports. Roth Capital set a $14.00 price target on shares of Halcon Resources and gave the company a “buy” rating in a report on Saturday, June 3rd. ValuEngine lowered shares of Halcon Resources from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Seaport Global Securities restated a “buy” rating and issued a $10.00 price target on shares of Halcon Resources in a report on Tuesday, May 23rd. Scotiabank set a $12.00 price target on shares of Halcon Resources and gave the company a “buy” rating in a report on Tuesday, May 16th. Finally, Zacks Investment Research upgraded shares of Halcon Resources from a “sell” rating to a “hold” rating in a report on Tuesday, May 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. Halcon Resources presently has a consensus rating of “Hold” and an average price target of $11.04.
In related news, major shareholder Franklin Resources Inc sold 31,341 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $6.73, for a total value of $210,924.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 22.00% of the company’s stock.
About Halcon Resources
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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