In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Halcon Resources Corp (NYSE:HK) reported that Franklin Resources Inc. has picked up 33,343,006 of common stock as of 2017-06-15.
The acquisition brings the aggregate amount owned by Franklin Resources Inc. to a total of 33,343,006 representing a 22.3% stake in the company.
For those not familiar with the company,
Halcón Resources Corporation (Halcón) is an independent energy company focused on the acquisition, production, exploration and development of onshore liquids-rich assets in the United States. While Halcón is still a relatively new venture, we operate on a proven strategy used in prior, successful ventures. We have an experienced staff and use the most advanced technology, enabling us to make informed and effective business decisions. Spanish for hawk, Halcón embraces the vision and agility to become a resource powerhouse in the oil and gas industry.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-06-14, Barnes picked up 9,400 at a purchase price of $5.36. This brings their total holding to 43,157 as of the date of the filing.
On the sell side, the most recent transaction saw Franklin unload 31,341 shares at a sale price of $6.73. This brings their total holding to 33,662,321.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an Halcon Resources Corp (NYSE:HK) as things move forward to see if its progress aligns with these transactions.
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