Halcon Resources Corp (HK): Tyrus Capital Makes Huge Purchase

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.

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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.

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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%
TONY CHEDRAOUI 0 9,256,652 0 9,256,652 9,256,652 9.93%

Tony Chedraoui
Tony Chedraoui
Tyrus Capital

Page 1 of 8 – SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

 


SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
HALCÓN RESOURCES CORPORATION
 (Name of Issuer)
Common Stock, par value $0.0001 per share
 (Title of Class of Securities)
40537Q605
 (CUSIP Number)
September 9, 2016
 (Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
[    ] Rule 13d-1(b)
[ X ] Rule 13d-1(c)
[     ] Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
Continued on following pages
Page 1 of 8 Pages
Exhibit Index: Page 7

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