Halcon Resources Corp. (NYSE:HK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
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. “
HK has been the subject of several other research reports. Wunderlich upped their price target on shares of Halcon Resources Corp. from $1.00 to $12.00 and gave the company a “hold” rating in a report on Tuesday, September 13th. Capital One Financial Corp. upgraded shares of Halcon Resources Corp. from an “underweight” rating to an “equal weight” rating in a report on Wednesday, September 14th. Finally, Jefferies Group reiterated a “hold” rating on shares of Halcon Resources Corp. in a report on Tuesday, August 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $6.21.
Halcon Resources Corp. (NYSE:HK) traded up 3.15% on Wednesday, reaching $9.49. 543,825 shares of the company were exchanged. The stock has a 50 day moving average of $9.57 and a 200 day moving average of $13.81. The firm’s market capitalization is $34.27 million. Halcon Resources Corp. has a 12-month low of $6.90 and a 12-month high of $113.79.
A number of hedge funds have recently bought and sold shares of HK. JPMorgan Chase & Co. raised its stake in Halcon Resources Corp. by 20,288.3% in the third quarter. JPMorgan Chase & Co. now owns 4,961,293 shares of the energy company’s stock valued at $46,536,000 after buying an additional 4,936,959 shares during the period. Nomura Asset Management Co. Ltd. purchased a new stake in Halcon Resources Corp. during the third quarter valued at about $8,557,000. California Public Employees Retirement System raised its stake in Halcon Resources Corp. by 8.2% in the second quarter. California Public Employees Retirement System now owns 803,460 shares of the energy company’s stock valued at $373,000 after buying an additional 61,100 shares during the period. Spark Investment Management LLC raised its stake in Halcon Resources Corp. by 337.9% in the second quarter. Spark Investment Management LLC now owns 743,200 shares of the energy company’s stock valued at $344,000 after buying an additional 573,500 shares during the period. Finally, Oxford Asset Management purchased a new stake in Halcon Resources Corp. during the second quarter valued at about $193,000.
About Halcon Resources Corp.
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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