Halcon Resources (NYSE:HK) Rating Lowered to Sell at Zacks Investment Research

Halcon Resources (NYSE:HK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday, March 2nd.

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. “

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Other research analysts also recently issued reports about the company. ValuEngine downgraded Halcon Resources from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Bank of America dropped their price target on Halcon Resources from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 7th. Roth Capital set a $13.00 price target on Halcon Resources and gave the stock a “buy” rating in a research note on Tuesday, January 16th. TheStreet raised Halcon Resources from a “d+” rating to a “c-” rating in a research note on Wednesday, November 22nd. Finally, Imperial Capital reissued an “outperform” rating and issued a $9.00 price objective (down from $12.00) on shares of Halcon Resources in a research note on Friday, March 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $10.29.

Shares of Halcon Resources (NYSE:HK) traded down $0.15 during midday trading on Friday, reaching $4.69. The company’s stock had a trading volume of 3,708,712 shares, compared to its average volume of 3,499,198. Halcon Resources has a 52-week low of $3.68 and a 52-week high of $9.07. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.14 and a quick ratio of 3.14. The firm has a market cap of $764.39, a PE ratio of 1.27 and a beta of 3.97.

Halcon Resources (NYSE:HK) last issued its quarterly earnings results on Wednesday, February 28th. The energy company reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.07). Halcon Resources had a net margin of 141.73% and a negative return on equity of 2.12%. The business had revenue of $25.28 million during the quarter, compared to the consensus estimate of $27.11 million. During the same quarter in the previous year, the business posted $0.66 EPS. The company’s revenue for the quarter was down 80.6% on a year-over-year basis. equities research analysts expect that Halcon Resources will post 0.11 earnings per share for the current fiscal year.

In other news, Director Darryl Schall purchased 7,000 shares of the stock in a transaction on Monday, March 5th. The shares were acquired at an average price of $5.48 per share, for a total transaction of $38,360.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Franklin Resources Inc sold 7,100 shares of the firm’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $7.70, for a total value of $54,670.00. The disclosure for this sale can be found here. In the last quarter, insiders purchased 1,170,466 shares of company stock worth $7,982,275 and sold 5,053,361 shares worth $41,695,602. Company insiders own 53.90% of the company’s stock.

Large investors have recently made changes to their positions in the company. Alambic Investment Management L.P. bought a new position in shares of Halcon Resources during the fourth quarter valued at about $104,000. Amalgamated Bank bought a new stake in shares of Halcon Resources in the third quarter worth about $109,000. Voya Investment Management LLC bought a new stake in shares of Halcon Resources in the second quarter worth about $121,000. Virtu Financial LLC bought a new stake in shares of Halcon Resources in the fourth quarter worth about $121,000. Finally, Gotham Asset Management LLC bought a new stake in Halcon Resources during the 4th quarter valued at approximately $124,000. 91.44% of the stock is currently owned by hedge funds and other institutional investors.

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Halcon Resources Company Profile

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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