HighPoint Resources (HPR) Coverage Initiated at MKM Partners

MKM Partners assumed coverage on shares of HighPoint Resources (NYSE:HPR) in a note issued to investors on Wednesday, The Fly reports. The firm set a “buy” rating and a $9.00 price target on the stock. MKM Partners’ price target suggests a potential upside of 169.46% from the company’s current price.

HPR has been the topic of several other reports. ValuEngine downgraded HighPoint Resources from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Zacks Investment Research downgraded HighPoint Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, October 30th. TheStreet downgraded HighPoint Resources from a “c-” rating to a “d+” rating in a research report on Monday, October 29th. Seaport Global Securities raised 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. Finally, BMO Capital Markets set a $6.00 price target on HighPoint Resources and gave the stock a “hold” rating in a research report on Sunday, August 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $8.16.

HPR traded down $0.17 during midday trading on Wednesday, hitting $3.34. 1,229,301 shares of the company were exchanged, compared to its average volume of 2,394,840. The company has a market capitalization of $692.57 million, a P/E ratio of -8.79 and a beta of 3.23. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.48 and a current ratio of 0.48. HighPoint Resources has a 1-year low of $3.20 and a 1-year high of $7.60.

HighPoint Resources (NYSE:HPR) last announced its quarterly earnings results on Wednesday, October 31st. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $131.15 million for the quarter, compared to analyst estimates of $122.47 million. HighPoint Resources had a negative return on equity of 0.61% and a negative net margin of 44.13%. HighPoint Resources’s revenue for the quarter was up 93.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.08) earnings per share. Analysts forecast that HighPoint Resources will post 0.04 EPS for the current year.

In other news, SVP Troy L. Schindler bought 10,000 shares of the stock in a transaction dated Tuesday, November 27th. The shares were acquired at an average cost of $3.50 per share, with a total value of $35,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.70% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Cubist Systematic Strategies LLC boosted its stake in shares of HighPoint Resources by 14.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 132,208 shares of the company’s stock worth $804,000 after acquiring an additional 16,192 shares in the last quarter. Paloma Partners Management Co boosted its stake in shares of HighPoint Resources by 315.8% during the 2nd quarter. Paloma Partners Management Co now owns 135,885 shares of the company’s stock worth $826,000 after acquiring an additional 103,203 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of HighPoint Resources during the 2nd quarter worth about $277,000. Pinnacle Associates Ltd. purchased a new stake in shares of HighPoint Resources during the 2nd quarter worth about $16,569,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of HighPoint Resources during the 2nd quarter worth about $581,000. 98.17% of the stock is currently owned by institutional investors and hedge funds.

HighPoint Resources Company Profile

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.

Further Reading: Penny Stocks, What You Need To Know

The Fly

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