HighPoint Resources Corp (HPR) Receives $8.67 Consensus Price Target from Analysts

Shares of HighPoint Resources Corp (NYSE:HPR) have been assigned an average rating of “Buy” from the ten brokerages that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $8.67.

Several brokerages have recently weighed in on HPR. Imperial Capital set a $9.00 price objective on shares of HighPoint Resources and gave the company a “buy” rating in a research report on Thursday, September 20th. Seaport Global Securities raised shares of HighPoint Resources from a “neutral” rating to a “buy” rating and set a $9.00 price target on the stock in a research report on Friday, September 7th. BMO Capital Markets set a $6.00 price target on shares of HighPoint Resources and gave the stock a “hold” rating in a research report on Sunday, August 12th. Finally, LADENBURG THALM/SH SH raised shares of HighPoint Resources from a “neutral” rating to a “buy” rating in a research report on Monday, June 25th.

In other HighPoint Resources news, COO Paul W. Geiger III purchased 20,000 shares of the stock in a transaction that occurred on Monday, August 20th. The shares were acquired at an average cost of $4.90 per share, with a total value of $98,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael R. Starzer purchased 50,000 shares of the stock in a transaction that occurred on Friday, August 17th. The shares were acquired at an average cost of $5.06 per share, for a total transaction of $253,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 80,000 shares of company stock worth $398,400. 2.70% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in HighPoint Resources by 7.0% in the 2nd quarter. BlackRock Inc. now owns 14,675,320 shares of the company’s stock valued at $89,225,000 after buying an additional 953,786 shares during the period. Renaissance Technologies LLC increased its holdings in HighPoint Resources by 6.6% in the 2nd quarter. Renaissance Technologies LLC now owns 9,602,500 shares of the company’s stock valued at $58,383,000 after buying an additional 594,800 shares during the period. Dimensional Fund Advisors LP increased its holdings in HighPoint Resources by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,217,147 shares of the company’s stock valued at $43,880,000 after buying an additional 547,531 shares during the period. Pinnacle Associates Ltd. bought a new position in HighPoint Resources in the 2nd quarter valued at about $16,569,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in HighPoint Resources by 16.7% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,691,216 shares of the company’s stock valued at $16,363,000 after buying an additional 385,906 shares during the period. 96.21% of the stock is currently owned by institutional investors and hedge funds.

Shares of HPR opened at $4.31 on Tuesday. HighPoint Resources has a fifty-two week low of $4.19 and a fifty-two week high of $7.60. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.61.

HighPoint Resources (NYSE:HPR) last issued its quarterly earnings data on Wednesday, August 8th. The company reported ($0.02) earnings per share for the quarter. The company had revenue of $110.40 million during the quarter, compared to the consensus estimate of $103.42 million. HighPoint Resources had a negative net margin of 52.13% and a negative return on equity of 1.73%. HighPoint Resources’s revenue was up 116.2% compared to the same quarter last year. As a group, equities research analysts anticipate that HighPoint Resources will post 0.09 earnings per share for the current fiscal year.

About HighPoint Resources

HighPoint Resources Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and natural gas resources in the United States. It primarily holds interests in the Northeast Wattenberg and Hereford fields of the Denver Julesburg basin located in the eastern plains of Colorado and parts of southeastern Wyoming.

See Also: Why do earnings reports matter?

Analyst Recommendations for HighPoint Resources (NYSE:HPR)

Receive News & Ratings for HighPoint Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HighPoint Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply