Why Halcon Resources (HK) Stock Is Rising Today

NEW YORK (TheStreet) -- Halcon Resources (HK) shares are up 1.0% to $7.02 on Tuesday after analysts at Canaccord Genuity (CCORF) raised their price target to $6 from $5.50.

The firm maintained its "hold" rating on the stock despite the increased price target on the independent energy company's shares.

"HK has built positions in two of the leading liquids-rich resource plays in the US, the Williston Basin (WB) and El Halcon, its Eagle Ford (EF) play. The Tuscaloosa Marine Shale (TMS) has been established as a third core area; the new partnership should speed development there," said analysts.

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TheStreet Ratings team rates HALCON RESOURCES CORP as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:

"We rate HALCON RESOURCES CORP (HK) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally higher debt management risk and disappointing return on equity."

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