Halcon Resources (HK) Rating Increased to Sell at ValuEngine

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ValuEngine upgraded shares of Halcon Resources (NYSE:HK) from a strong sell rating to a sell rating in a research report sent to investors on Tuesday, May 29th.

A number of other equities analysts have also weighed in on the stock. Zacks Investment Research raised shares of Halcon Resources from a strong sell rating to a hold rating in a research report on Thursday, May 3rd. Stephens set a $10.00 price objective on shares of Halcon Resources and gave the company a buy rating in a research report on Tuesday, April 24th. TheStreet lowered shares of Halcon Resources from a c- rating to a d+ rating in a research report on Tuesday, March 20th. Imperial Capital reaffirmed an outperform rating and set a $9.00 price target (down previously from $12.00) on shares of Halcon Resources in a research report on Friday, March 2nd. Finally, Bank of America dropped their price target on shares of Halcon Resources from $10.00 to $9.00 and set a neutral rating for the company in a research report on Wednesday, February 7th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $9.17.

Halcon Resources traded up $0.19, reaching $4.19, during midday trading on Tuesday, according to MarketBeat. 454,936 shares of the company’s stock were exchanged, compared to its average volume of 4,535,731. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.54. The stock has a market cap of $638.62 million, a P/E ratio of -27.93 and a beta of 3.97. Halcon Resources has a 1-year low of $3.68 and a 1-year high of $9.07.

Halcon Resources (NYSE:HK) last posted its quarterly earnings data on Wednesday, May 2nd. The energy company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The firm had revenue of $49.30 million during the quarter, compared to analyst estimates of $44.34 million. Halcon Resources had a net margin of 117.87% and a negative return on equity of 3.42%. The business’s quarterly revenue was down 63.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 EPS. analysts forecast that Halcon Resources will post -0.01 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HK. Dimensional Fund Advisors LP grew its stake in Halcon Resources by 163.6% during the first quarter. Dimensional Fund Advisors LP now owns 5,142,345 shares of the energy company’s stock worth $25,043,000 after buying an additional 3,191,887 shares during the period. Victory Capital Management Inc. purchased a new stake in Halcon Resources during the first quarter worth approximately $11,542,000. Millennium Management LLC grew its stake in Halcon Resources by 57.1% during the first quarter. Millennium Management LLC now owns 5,561,127 shares of the energy company’s stock worth $27,083,000 after buying an additional 2,021,349 shares during the period. William Blair Investment Management LLC purchased a new stake in Halcon Resources during the fourth quarter worth approximately $12,543,000. Finally, Renaissance Technologies LLC grew its stake in Halcon Resources by 244.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,300,395 shares of the energy company’s stock worth $17,414,000 after buying an additional 1,631,995 shares during the period. Institutional investors own 98.32% of the company’s stock.

Halcon Resources Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Halcon Resources (NYSE:HK)

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