NEW YORK (TheStreet) -- Shares of Halcon Resources Corp. (HK) are tumbling by 5.95% to $1.74 in early afternoon trading on Tuesday, as some energy and oil related stocks decline today along with the price of oil.
Oil traded below $57 per barrel on Tuesday, touching a five and a half year low as the global supply glut proved more worrisome than a loss of supply in Libya, where a militia attack has resulted in the closing of ports, Reuters reports.
Crude oil for February delivery is down 0.39% to $53.40 per barrel on the NYMEX this afternoon.
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Separately, TheStreet Ratings team rates HALCON RESOURCES CORP as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate HALCON RESOURCES CORP (HK) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk and generally disappointing historical performance in the stock itself."
Highlights from the analysis by TheStreet Ratings Team goes as follows: