Halcon Resources (HK) Shares Gap Down to $5.27

Halcon Resources (NYSE:HK)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $5.39, but opened at $5.27. Halcon Resources shares last traded at $5.19, with a volume of 3651231 shares changing hands.

Several equities analysts recently weighed in on HK shares. Zacks Investment Research raised shares of Halcon Resources from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 3rd. Stephens reissued a “buy” rating and issued a $13.00 target price on shares of Halcon Resources in a research note on Monday, February 26th. TheStreet cut shares of Halcon Resources from a “c-” rating to a “d+” rating in a research note on Tuesday, March 20th. Imperial Capital reissued an “outperform” rating and issued a $9.00 target price (down from $12.00) on shares of Halcon Resources in a research note on Friday, March 2nd. Finally, ValuEngine cut shares of Halcon Resources from a “sell” rating to a “strong sell” rating in a research report on Thursday, May 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $9.50.

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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 capitalization of $869.68 million, a P/E ratio of -34.60 and a beta of 3.95.

Halcon Resources (NYSE:HK) last released its quarterly earnings data on Wednesday, May 2nd. The energy company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.03). Halcon Resources had a negative return on equity of 3.42% and a net margin of 117.87%. The company had revenue of $49.30 million for the quarter, compared to the consensus estimate of $44.34 million. During the same period last year, the firm earned $0.06 earnings per share. The company’s revenue for the quarter was down 63.6% compared to the same quarter last year. equities analysts predict that Halcon Resources will post 0.04 EPS for the current fiscal year.

In other news, Director Darryl Schall bought 7,000 shares of the company’s stock in a transaction dated Monday, March 5th. The stock was bought at an average price of $5.48 per share, with a total value of $38,360.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Floyd C. Wilson bought 50,000 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were purchased at an average cost of $5.22 per share, with a total value of $261,000.00. Following the acquisition, the chief executive officer now directly owns 1,669,486 shares of the company’s stock, valued at approximately $8,714,716.92. The disclosure for this purchase can be found here. Insiders own 3.70% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Highbridge Capital Management LLC acquired a new stake in shares of Halcon Resources during the first quarter worth $891,000. Millennium Management LLC lifted its holdings in shares of 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 in the last quarter. Meghalaya Partners L.P. lifted its holdings in shares of Halcon Resources by 463.6% during the first quarter. Meghalaya Partners L.P. now owns 1,950,000 shares of the energy company’s stock worth $9,497,000 after buying an additional 1,604,020 shares in the last quarter. Wexford Capital LP lifted its holdings in shares of Halcon Resources by 255.7% during the first quarter. Wexford Capital LP now owns 1,138,558 shares of the energy company’s stock worth $5,545,000 after buying an additional 818,483 shares in the last quarter. Finally, Nokomis Capital L.L.C. lifted its holdings in shares of Halcon Resources by 48.4% during the first quarter. Nokomis Capital L.L.C. now owns 2,619,353 shares of the energy company’s stock worth $12,756,000 after buying an additional 854,867 shares in the last quarter. 98.35% of the stock is owned by institutional investors.

About Halcon Resources

Halc贸n 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.

Goldman Sees More Bond Pain for Italy Given Portugal's History

For a template on how to trade Italy 2018, investors should look back to Portugal in 2015.

That’s the advice of Goldman Sachs Group Inc. The lesson is Italian bond yields have further to rise as a coalition of populist parties is poised to form a government, but that a Greece-style threat to the euro area isn’t looming.

The Portuguese example after the formation of a socialist government in 2015 suggests yield spreads over equivalent German benchmarks can be “significant and persistent” for some time, Goldman economist Huw Pill wrote in a note to clients on Wednesday.

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“The Portuguese experience shows the election of a more populist government embodying euroskeptical elements in Italy need not create the existential crisis and domestic financial meltdown that we observed in Greece,” Pill said. “That said, we continue to view current market pricing as reflecting a somewhat complacent view of political developments in Italy.”

Italy’s 10-year yield spread over comparable German bunds widened to 193 basis points Wednesday, the most on a closing basis since June. That compares with more than 550 basis points at the height of the euro-area debt crisis in 2011.

Italian President Sergio Mattarella summoned premiership candidate Giuseppe Conte, a Florence law professor, for talks on Wednesday afternoon, the head of state’s office said in a statement.

Italian Outlook

Greece, where spreads ballooned to 1,800 basis points in 2015, has always been seen as a “special case” by European authorities, according to Pill.

That leaves the Italian outlook for spreads resembling the Portuguese example, able to go wider without triggering an existential crisis of the euro, he said. In the Portuguese case, spreads widened 150 basis points for more than a year, according to Pill.

“We see the ‘search-for-yield’ dynamic prompted by the ECB’s non-standard monetary policy measures as sufficient to avoid a return to the extreme tensions of 2011-12,” Pill said. Still, Italy’s public finances remain vulnerable, and the European Central Bank’s policy “relies on governments taking a cooperative approach to addressing market tensions,” he said.

— With assistance by Joao Lima

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