WhiteHawk Income (NYSE:WHK) Shares Gap Up - Still a Buy?

Key Points

• WhiteHawk Income shares rose sharply at the open, moving from a previous close of $26.52 to $27.57 before trading around $27.56.
• Analyst coverage is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $31.40, compared with the recent trading price near $27.56.
• The company recently paid a quarterly dividend of $0.61, equivalent to an annualized $2.44 payout and an 8.9% yield; Alyeska Investment Group also disclosed a new 250,000-share position.

WhiteHawk Income Corp. (NYSE:WHK - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $26.52, but opened at $27.57. WhiteHawk Income shares last traded at $27.56, with a volume of 8,680 shares changing hands.

Analyst Ratings Changes

WHK has been the topic of a number of research reports. Capital One Financial initiated coverage on WhiteHawk Income in a report on Monday, July 6th. They issued an "overweight" rating and a $32.00 price objective on the stock. Stifel Nicolaus began coverage on WhiteHawk Income in a research report on Monday, July 6th. They set a "buy" rating and a $30.00 target price for the company. Raymond James Financial began coverage on WhiteHawk Income in a research report on Tuesday, July 7th. They issued a "strong-buy" rating and a $34.00 price target on the stock. JPMorgan Chase & Co. began coverage on WhiteHawk Income in a research note on Monday, July 6th. They issued a "neutral" rating and a $28.00 price target for the company. Finally, Stephens began coverage on shares of WhiteHawk Income in a research report on Monday, July 6th. They set an "overweight" rating and a $33.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, WhiteHawk Income presently has a consensus rating of "Moderate Buy" and an average price target of $31.40.

WhiteHawk Income Price Performance

The firm has a 50-day simple moving average of $26.49.

WhiteHawk Income Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 24th were paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 8.9%. The ex-dividend date was Monday, August 24th.

Hedge Funds Weigh In On WhiteHawk Income

An institutional investor recently bought a new stake in WhiteHawk Income stock. Alyeska Investment Group L.P. bought a new position in shares of WhiteHawk Income Corp. (NYSE:WHK - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 250,000 shares of the company's stock, valued at approximately $6,955,000. Alyeska Investment Group L.P. owned about 0.93% of WhiteHawk Income as of its most recent filing with the Securities & Exchange Commission.

About WhiteHawk Income

WhiteHawk is focused on being the premier natural gas mineral and royalty business in the United States. We are committed to delivering cash flow and total returns to our investors through the disciplined acquisition, active management and ownership of high-quality mineral and royalty interests. Our assets are concentrated in the Marcellus and Haynesville Shales, which are located in the Appalachian and Haynesville Basins, which are among the most productive and lowest-cost U.S. natural gas basins(1).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source