HighPoint Resources (HPR) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of HighPoint Resources (NYSE:HPR) from a buy rating to a hold rating in a report published on Tuesday.

According to Zacks, “HighPoint Resources Corporation is an exploration and production company. It focuses on the development of oil and natural gas assets primarily in the Denver-Julesburg Basin of Colorado. HighPoint Resources Corporation, formerly known as Bill Barrett Corporation, is based in Denver, Colorado. “

A number of other research firms have also commented on HPR. Imperial Capital set a $9.00 price objective on HighPoint Resources and gave the stock a buy rating in a research note on Thursday, September 20th. BMO Capital Markets set a $6.00 price objective on HighPoint Resources and gave the stock a hold rating in a research note on Sunday, August 12th. Finally, Seaport Global Securities raised HighPoint Resources from a neutral rating to a buy rating and set a $9.00 price objective on the stock in a research note on Friday, September 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $8.04.

HighPoint Resources stock opened at $4.36 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $783.79 million, a price-to-earnings ratio of -11.47 and a beta of 3.26. HighPoint Resources has a 52 week low of $3.45 and a 52 week high of $7.60.

HighPoint Resources (NYSE:HPR) last posted its quarterly earnings data on Wednesday, October 31st. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The business had revenue of $131.15 million during the quarter, compared to analyst estimates of $122.47 million. HighPoint Resources had a negative return on equity of 1.73% and a negative net margin of 52.13%. HighPoint Resources’s revenue for the quarter was up 93.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.08) EPS. Research analysts anticipate that HighPoint Resources will post 0.1 earnings per share for the current year.

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

Several hedge funds have recently added to or reduced their stakes in HPR. Principal Financial Group Inc. bought a new stake in shares of HighPoint Resources during the first quarter worth $3,896,000. Bank of Montreal Can bought a new stake in shares of HighPoint Resources during the second quarter worth $3,323,000. Fox Run Management L.L.C. bought a new stake in shares of HighPoint Resources during the second quarter worth $128,000. Acadian Asset Management LLC bought a new stake in shares of HighPoint Resources during the second quarter worth $581,000. Finally, Northpointe Capital LLC bought a new stake in shares of HighPoint Resources during the second quarter worth $8,409,000. Institutional investors own 96.07% of the company’s stock.

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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