Halcon Resources Corp (NYSE:HK) announced that it has retained PJT Partners as financial advisor and Weil, Gotshal & Manges, LLP as legal advisor to assist the Company as it charts a course through this downturn.

The Company also today announced that its Board of Directors has appointed John Wat (J.W.) Brown and Paul P. (Flip) Huffard IV as new board members, effective March 4, 2016. With these appointments, the Halcón Board has been expanded from nine to eleven directors.

Floyd Wilson, CEO commented, “We welcome J.W. and Flip to our Board. Their backgrounds and experiences will provide value to Halcón going forward. We continue to focus on finding creative solutions to ensure we come out of this current oil price environment a stronger company. Our hiring of PJT and Weil is consistent with these efforts.”(Original Source)

Shares of Halcon Resources are down nearly 3% in pre-market trading. HK has a 1-year high of $10.30 and a 1-year low of $0.20. The stock’s 50-day moving average is $0.53 and its 200-day moving average is $2.53.

On the ratings front, Wunderlich Securities analyst Jason Wangler downgraded HK to Hold, in a report issued on January 28. According to TipRanks.com, Wangler has a total average return of -18.4%, a 31.7% success rate, and is ranked #3693 out of 3712 analysts.

Halcon Resources Corp is an oil and natural gas company, which is engaged in the acquisition, production, exploration and development of onshore liquids-rich oil and natural gas assets in the United States.