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Insiders Are Buying Halcón Resources
Posted by: maarnio (IP Logged)
Date: August 12, 2013 10:15AM
The Energy Select Sector SPDR ETF (XLE) was trading as low as $37.40 in March 2009. The index is currently trading at $82.59 or 120.8% above the low made in March 2009.
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In this article, I will feature one energy stock that has seen intensive insider buying during the last 30 days. Intensive insider buying can be defined by the following three criteria:
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Insider Buying by Insider (Last 30 Days)
Here is a table of Halcón Resources' insider trading activity by calendar month.
There have been 2,628,125 shares purchased and there have been zero shares sold by the insiders this year.
The company reported the second quarter financial results on Aug. 1 with the following highlights:
Halcón's production guidance for the third quarter and the full year is as follows:
There have been 12 different insiders buying the shares and there have not been any insiders selling the shares during the last 30 days. Seven out of these 12 insiders increased their holding by more than 10%. The company has an insider ownership of 1.90%. There are 15 analyst buy ratings, three neutral ratings and one sell rating with an average target price of $8.25. The company's total proved reserves are 108.8 MMboe with a net present value of $2.3 billion. The stock is trading at a P/E ratio of 112.50 and a forward P/E ratio of 12.00. The company has a book value of $6.71 per share. I believe the stock could be a good pick below the book value.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Stocks Discussed: HK, XLE,
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