HighPoint Resources (HPR) Downgraded by ValuEngine

HighPoint Resources (NYSE:HPR) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

Other equities analysts also recently issued reports about the stock. Imperial Capital set a $9.00 price target on shares of HighPoint Resources and gave the company a “buy” rating in a 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 target price for the company in a research note on Friday, September 7th. BMO Capital Markets set a $6.00 target price on shares of HighPoint Resources and gave the stock a “hold” rating in a research note on Sunday, August 12th. Zacks Investment Research raised shares of HighPoint Resources from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a research note on Saturday, October 27th. Finally, TheStreet downgraded shares of HighPoint Resources from a “c-” rating to a “d+” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. HighPoint Resources has a consensus rating of “Buy” and an average price target of $8.04.

HPR stock traded up $0.38 during trading on Thursday, hitting $4.10. 5,265,499 shares of the stock traded hands, compared to its average volume of 2,001,921. HighPoint Resources has a one year low of $3.45 and a one year high of $7.60. The company has a market capitalization of $783.79 million, a P/E ratio of -10.79 and a beta of 3.26. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.61.

HighPoint Resources (NYSE:HPR) last announced its quarterly earnings results on Wednesday, October 31st. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). HighPoint Resources had a negative net margin of 52.13% and a negative return on equity of 1.73%. The firm had revenue of $131.15 million for the quarter, compared to the consensus estimate of $122.47 million. During the same period in the prior year, the business earned ($0.08) earnings per share. The company’s revenue for the quarter was up 93.2% on a year-over-year basis. As a group, research analysts expect that HighPoint Resources will post 0.1 earnings per share for the current year.

In related news, SVP Kenneth A. Wonstolen bought 10,000 shares of the company’s stock in a transaction on Thursday, August 16th. The stock was bought at an average cost of $4.74 per share, with a total value of $47,400.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael R. Starzer bought 50,000 shares of the company’s stock in a transaction on Friday, August 17th. The stock was bought at an average cost of $5.06 per share, with a total value of $253,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 80,000 shares of company stock valued at $398,400. Insiders own 2.70% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of HPR. Pinnacle Associates Ltd. bought a new stake in shares of HighPoint Resources during the second quarter worth approximately $16,569,000. Northpointe Capital LLC bought a new stake in shares of HighPoint Resources during the second quarter worth approximately $8,409,000. Portolan Capital Management LLC bought a new stake in shares of HighPoint Resources during the second quarter worth approximately $7,214,000. BlackRock Inc. raised its stake in shares of HighPoint Resources by 7.0% during the second quarter. BlackRock Inc. now owns 14,675,320 shares of the company’s stock worth $89,225,000 after buying an additional 953,786 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of HighPoint Resources during the first quarter worth approximately $3,896,000. 96.07% of the stock is owned by institutional investors and hedge funds.

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.

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