Halcon Resources (NYSE:HK) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Halcon Resources (NYSE:HK) from a buy rating to a hold rating in a research report sent to investors on Thursday morning, Zacks.com reports.

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 reports. ValuEngine cut shares of Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. Roth Capital set a $33.00 price target on shares of Stemline Therapeutics and gave the company a buy rating in a report on Friday, May 10th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Halcon Resources has an average rating of Hold and an average target price of $4.11.

NYSE:HK opened at $0.21 on Thursday. Halcon Resources has a one year low of $0.16 and a one year high of $4.90. The firm’s fifty day moving average is $0.20. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.72.

Halcon Resources (NYSE:HK) last released its earnings results on Thursday, May 9th. The energy company reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.08. The firm had revenue of $51.92 million during the quarter, compared to analysts’ expectations of $59.49 million. Halcon Resources had a negative net margin of 125.62% and a negative return on equity of 0.03%. As a group, analysts forecast that Halcon Resources will post -0.23 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. increased its holdings in 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 buying an additional 12,168 shares during the period. BNP Paribas Arbitrage SA increased its holdings in 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 buying an additional 27,816 shares during the period. United Services Automobile Association increased its holdings in 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 buying an additional 12,580 shares during the period. Metropolitan Life Insurance Co. NY increased its holdings in Halcon Resources by 395.2% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 46,694 shares of the energy company’s stock valued at $79,000 after buying an additional 37,264 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Halcon Resources in the 1st quarter valued at $232,000.

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 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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