Morgan Stanley Upgraded The Rating Of Halcon Resources Corp (NYSE:HK)


Dallas, Texas 01/01/2014 (FINANCIALSTRENDS) – Recently the rating of the Halcon Resources Corp (NYSE:HK) has been upgraded to equal weight category from its earlier rating of underweight by the famous company Morgan Stanley. A note was issued in this regard on Thursday. The current price of Halcon Resources Corp is $4 per share and as per the Morgan Stanley there is an potential upside of 4.71% from the current price tag.

Earlier there were many concerns that were raised for this stock such as decrease in the production volumes, exploration disappointment, rising of capital by Halcon Resources Corp. for maintaining enough liquidity. The company also announced its earnings results in the month of November and it reported $0.04 earnings per share that is EPS for the quarter, missing the consensus estimate of $0.07 by $0.03.

Overview of Halcon Resources Corp (NYSE:HK)

Halcon Resources Corp (NYSE:HK) is an independent energy company that primarily focuses on production and exploration of onshore liquid rich oil and natural gas asset locations. The company also acquires different oil and natural gas locations so that it can sustain for a longer period of time. The company mostly operates in the United States of America.

As per the recent news the CEO of the Halcon Resources Corp Mr. Floyd Wilson acquired 100,000 shares of the Halcon Resources Corp and the transaction was done on 5th December. The average stock purchase price was around $4 and the total value of the block deal was $400,000. After the completion of this block deal the CEO of the company now directly own about 3,694,075 shares of Halcon Resources Corp. Company and the value of all these shares is around $14,776,300. With such deals from the higher management it seems that there is a possibility of an upswing in the stock.