According to a new 13G filing with the Securities and Exchange Commission, Tony Chedraoui‘s Tyrus Capital has acquired around 7.82 million shares of Halcon Resources Corp (NYSE:HK), raising its stake to 9.26 million shares, which amass 9.93% of the stock’s float. Previously, the fund’s stake consisted of 1.44 million shares, as per its 13F filing for the reporting period of June 30.
Halcon Resources is an energy company that holds, acquires, explores and develops onshore liquids-rich oil and natural gas assets. Year-to-date, the company’s stock is up by 517.46%. For the second quarter of 2016, Halcon Resources disclosed a loss per share of $3.17, greatly missing the estimates of earnings per share of $0.10, while its revenue of $106.1 million was also well below the estimates of $167.8 million. Earlier this month, Capital One Financial upgraded its rating on Halcon Resource’s stock to ‘Equal Weight’ from ‘Underweight’, while Wunderlich boosted its price target on the stock to $12 from just $1, and has a ‘Hold’ rating on it.
Eight investors in our database were long Halcon Resources Corp (NYSE:HK) on June 30, same as on March 31. Those investors, which included Cliff Asness‘ AQR Capital Management, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, and Israel Englander’s Millennium Management, owned just 3% of the company’s outstanding shares in aggregate. This latest big purchase by Tyrus Capital makes them much more bullish on the stock collectively.
You can access the original SEC filing by clicking here.
Ownership Summary Table
|Name||Sole Voting Power||Shared Voting Power||Sole Dispositive Power||Shared Dispositive Power||Aggregate Amount Owned Power||Percent of Class|
|TYRUS CAPITAL S.A.M||0||9,256,652||0||9,256,652||9,256,652||9.93%|
Page 1 of 8 – SEC Filing