HighPoint Resources Corp (HPR) Expected to Post Quarterly Sales of $135.36 Million

Brokerages expect HighPoint Resources Corp (NYSE:HPR) to post $135.36 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for HighPoint Resources’ earnings. The highest sales estimate is $156.70 million and the lowest is $114.00 million. HighPoint Resources posted sales of $67.87 million in the same quarter last year, which suggests a positive year over year growth rate of 99.4%. The firm is scheduled to report its next earnings results on Tuesday, October 30th.

According to Zacks, analysts expect that HighPoint Resources will report full year sales of $490.28 million for the current year, with estimates ranging from $431.96 million to $530.70 million. For the next year, analysts anticipate that the business will report sales of $827.21 million per share, with estimates ranging from $766.85 million to $912.92 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover HighPoint Resources.

HighPoint Resources (NYSE:HPR) last posted its quarterly earnings results on Wednesday, August 8th. The company reported ($0.02) earnings per share (EPS) for the quarter. HighPoint Resources had a negative return on equity of 1.73% and a negative net margin of 52.13%. The firm had revenue of $110.40 million for the quarter, compared to the consensus estimate of $103.42 million. The firm’s quarterly revenue was up 116.2% compared to the same quarter last year.

Several analysts have issued reports on the stock. 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. 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. TheStreet raised shares of HighPoint Resources from a “d” rating to a “c-” rating in a research report on Wednesday, May 16th. ValuEngine raised shares of HighPoint Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, JPMorgan Chase & Co. assumed coverage on shares of HighPoint Resources in a research report on Thursday, April 26th. They issued an “overweight” rating and a $10.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. HighPoint Resources has an average rating of “Buy” and a consensus target price of $8.50.

In related news, SVP Kenneth A. Wonstolen acquired 10,000 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were bought at an average cost of $4.74 per share, with a total value of $47,400.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC raised its position in shares of HighPoint Resources by 25.8% in the second quarter. Millennium Management LLC now owns 506,747 shares of the company’s stock valued at $3,081,000 after purchasing an additional 103,939 shares during the period. Paloma Partners Management Co increased its position in HighPoint Resources by 315.8% during the second 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 during the period. Cubist Systematic Strategies LLC increased its position in HighPoint Resources by 14.0% during the second 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 during the period. Bank of America Corp DE increased its position in HighPoint Resources by 183.2% during the second quarter. Bank of America Corp DE now owns 578,833 shares of the company’s stock worth $3,518,000 after acquiring an additional 374,418 shares during the period. Finally, Intrinsic Edge Capital Management LLC increased its position in HighPoint Resources by 25.0% during the second quarter. Intrinsic Edge Capital Management LLC now owns 500,000 shares of the company’s stock worth $3,040,000 after acquiring an additional 100,000 shares during the period. 97.17% of the stock is currently owned by institutional investors.

NYSE HPR opened at $4.86 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.66 and a current ratio of 0.66. HighPoint Resources has a 1 year low of $2.66 and a 1 year high of $7.60. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -12.79 and a beta of 3.32.

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.

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