UPDATE: Canaccord Genuity Starts Halcon Resources (HK) at Buy, CEO Wilson is a Winner
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Price: $0.16 --0%
Rating Summary:
2 Buy, 14 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
2 Buy, 14 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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(Updated - September 28, 2012 8:40 AM EDT)
Canaccord Genuity initiates coverage on Halcon Resources (NASDAQ: HK) with a Buy. PT $11.00.
"The company has built positions in some of the most exciting liquids-rich plays in the United States, including the Woodbine, Utica, and Bakken, with ~1.3 billion barrels oil equivalent (Bboe) of unrisked resource potential. After a period of aggressive acquisitions, the company is shifting its focus towards the drill bit to grow reserves and production, which we believe will be a nice catalyst for the stock."
The firm said they are betting on CEO Floyd Wilson, who has a history of creating
shareholder value and can do so again.
"Three times Mr. Wilson has built successful E&P companies and then sold them. The most recent was Petrohawk Energy, a company he started with a $60 million recapitalization, which was sold to BHP Billiton for over $15 billion last year."
For an analyst ratings summary and ratings history on Halcon Resources click here. For more ratings news on Halcon Resources click here.
Shares of Halcon Resources closed at $10.68 yesterday.
Canaccord Genuity initiates coverage on Halcon Resources (NASDAQ: HK) with a Buy. PT $11.00.
"The company has built positions in some of the most exciting liquids-rich plays in the United States, including the Woodbine, Utica, and Bakken, with ~1.3 billion barrels oil equivalent (Bboe) of unrisked resource potential. After a period of aggressive acquisitions, the company is shifting its focus towards the drill bit to grow reserves and production, which we believe will be a nice catalyst for the stock."
The firm said they are betting on CEO Floyd Wilson, who has a history of creating
shareholder value and can do so again.
"Three times Mr. Wilson has built successful E&P companies and then sold them. The most recent was Petrohawk Energy, a company he started with a $60 million recapitalization, which was sold to BHP Billiton for over $15 billion last year."
For an analyst ratings summary and ratings history on Halcon Resources click here. For more ratings news on Halcon Resources click here.
Shares of Halcon Resources closed at $10.68 yesterday.
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