Halcon Resources (HK) Shares Gap Down to $0.28

Shares of Halcon Resources Corp (NYSE:HK) gapped down before the market opened on Thursday . The stock had previously closed at $0.24, but opened at $0.28. Halcon Resources shares last traded at $0.27, with a volume of 360010 shares traded.

HK has been the subject of a number of recent research reports. Roth Capital dropped their price objective on Halcon Resources from $13.00 to $3.50 and set a “buy” rating for the company in a research report on Monday, January 28th. Johnson Rice cut Halcon Resources from a “buy” rating to a “hold” rating and set a $7.00 price objective for the company. in a research report on Friday, February 22nd. ValuEngine cut Halcon Resources from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. Finally, Zacks Investment Research upgraded Halcon Resources from a “sell” rating to a “hold” rating in a report on Tuesday, January 22nd. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $4.68.

The company has a debt-to-equity ratio of 0.72, a current ratio of 0.23 and a quick ratio of 0.23. The firm has a market cap of $47.85 million, a P/E ratio of -5.26 and a beta of 3.67.

Halcon Resources (NYSE:HK) last posted its quarterly earnings results on Thursday, May 9th. The energy company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.08. The company had revenue of $51.92 million during the quarter, compared to analysts’ expectations of $59.49 million. Halcon Resources had a negative return on equity of 0.03% and a negative net margin of 125.62%. On average, analysts forecast that Halcon Resources Corp will post -0.14 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Halcon Resources by 116.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 22,634 shares of the energy company’s stock valued at $38,000 after purchasing an additional 12,168 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Halcon Resources by 163,623.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 27,833 shares of the energy company’s stock valued at $38,000 after purchasing an additional 27,816 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new position in shares of Halcon Resources in the 1st quarter valued at about $52,000. Virtu Financial LLC lifted its stake in shares of Halcon Resources by 102.4% in the 4th quarter. Virtu Financial LLC now owns 42,241 shares of the energy company’s stock valued at $72,000 after purchasing an additional 21,375 shares in the last quarter. Finally, United Services Automobile Association lifted its stake in shares of Halcon Resources by 38.3% in the 4th quarter. United Services Automobile Association now owns 45,407 shares of the energy company’s stock valued at $77,000 after purchasing an additional 12,580 shares in the last quarter.

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About Halcon Resources (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 December 31, 2018, the company held interests in 56,900 net acres in the Delaware Basin, located in Pecos, Reeves, Ward, and Winkler Counties, Texas.

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