Halcon Resources Corporation (NYSE:HK) was upgraded by stock analysts at Seaport Global Securities from a “neutral” rating to a “buy” rating in a report issued on Tuesday. The brokerage presently has a $8.00 price objective on the energy company’s stock, up from their prior price objective of $7.00. Seaport Global Securities’ target price points to a potential upside of 27.39% from the stock’s current price. Seaport Global Securities also issued estimates for Halcon Resources Corporation’s Q3 2017 earnings at $0.04 EPS, Q4 2017 earnings at $0.02 EPS, FY2017 earnings at $0.12 EPS, Q1 2018 earnings at $0.03 EPS, Q2 2018 earnings at $0.04 EPS, Q3 2018 earnings at $0.08 EPS, Q4 2018 earnings at $0.09 EPS and FY2018 earnings at $0.25 EPS.

A number of other equities research analysts have also recently commented on HK. Imperial Capital assumed coverage on shares of Halcon Resources Corporation in a research note on Tuesday, August 1st. They issued an “outperform” rating and a $9.00 price objective on the stock. Bank of America Corporation assumed coverage on shares of Halcon Resources Corporation in a research note on Monday. They issued a “neutral” rating on the stock. Barclays PLC raised shares of Halcon Resources Corporation from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $5.00 to $8.00 in a research note on Thursday, July 13th. Zacks Investment Research cut shares of Halcon Resources Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Finally, ValuEngine cut shares of Halcon Resources Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. Halcon Resources Corporation currently has a consensus rating of “Buy” and a consensus price target of $10.00.

Halcon Resources Corporation (HK) opened at 6.28 on Tuesday. The stock has a 50 day moving average of $6.40 and a 200 day moving average of $6.27. The stock has a market capitalization of $901.46 million, a P/E ratio of 1.48 and a beta of 3.99. Halcon Resources Corporation has a 1-year low of $3.68 and a 1-year high of $11.29.

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In related news, Director Darryl Schall acquired 10,000 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were acquired at an average cost of $6.25 per share, for a total transaction of $62,500.00. Following the acquisition, the director now directly owns 35,589 shares in the company, valued at approximately $222,431.25. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Franklin Resources Inc sold 305,201 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $6.13, for a total transaction of $1,870,882.13. The disclosure for this sale can be found here. Insiders have sold a total of 7,048,219 shares of company stock worth $44,989,549 over the last ninety days. 53.90% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in HK. UBS Oconnor LLC purchased a new position in shares of Halcon Resources Corporation during the 1st quarter worth about $30,285,000. Boston Partners lifted its holdings in shares of Halcon Resources Corporation by 1,388.1% during the 2nd quarter. Boston Partners now owns 3,863,260 shares of the energy company’s stock worth $17,539,000 after acquiring an additional 3,603,645 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Halcon Resources Corporation during the 1st quarter worth about $17,949,000. Vanguard Group Inc. lifted its holdings in shares of Halcon Resources Corporation by 113.7% during the 2nd quarter. Vanguard Group Inc. now owns 3,296,119 shares of the energy company’s stock worth $14,964,000 after acquiring an additional 1,753,923 shares during the period. Finally, State Street Corp lifted its holdings in shares of Halcon Resources Corporation by 5,676.2% during the 2nd quarter. State Street Corp now owns 1,226,470 shares of the energy company’s stock worth $5,567,000 after acquiring an additional 1,205,237 shares during the period. Institutional investors and hedge funds own 91.57% of the company’s stock.

Halcon Resources Corporation 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.

Analyst Recommendations for Halcon Resources Corporation (NYSE:HK)

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