Dallas, Texas 05/15/2014 (FINANCIALSTRENDS) –Canaccord Genuity investment analysts have increased their PT on Halcon Resources Corp (NYSE:HK) shares from $4.75 to $5.50 in the note that was issued to investors. This price objective points to the potential downside of 4.35 percent from the previous close of the stock. Other equities research-analysts have recently commented on the company stock. BMO Capital Markets analysts have upped their PT on the company’s shares from $6.00 up to $7.00 in the research note to investors. Separately, Raymond James analysts have upped their PT on HK shares from $5.50 up to $6.00 in the research note on April 23rd.
Finally, the analysts at the KLR Group have downgraded Halcon Resources Corp (NYSE:HK) shares to a rating of “reduce” in their research note on April 17th. One research-analyst rated the company stock with a “sell” rating, 5 have assigned a rating of “hold” and 2 have assigned a rating of “buy” to the company stock. Currently, the average rating on the company is a “hold” and the average PT is $5.86.
What HK does
Halcon Resources Corp (NYSE:HK) is an independent-energy company that focuses on acquisition, production and exploration as well as the development of on-shore liquids-rich oil as well as natural-gas assets in the United States. It has oil & natural gas reserves that are situated mainly y in Texas, and North Dakota, Louisiana and Oklahoma and in Montana. On 1 August 2012, HK bought GeoResources via merger.On 6 December 2012, it completed acquiring the entities owning around 81,000 net-acres prospective for Bakken or the Three Forks formations mainly located in Williams, and Mountrail, McKenzie & the Dunn Counties, and North Dakota (Williston Basin Assets). These were acquired from Petro-Hunt, L.L.C & Pillar Energy, LLC (the Petro-Hunt parties). As of 31 December 2012, HK has working interests in almost 128,000 net-acres prospective in the Bakken / Three-Fork formations in North Dakota & in Montana.