HighPoint Resources (HPR) Shares Down 6.8%

HighPoint Resources Corp (NYSE:HPR) fell 6.8% during mid-day trading on Friday . The company traded as low as $3.66 and last traded at $3.69. 920,814 shares traded hands during trading, a decline of 55% from the average session volume of 2,044,647 shares. The stock had previously closed at $3.96.

A number of research firms have recently issued reports on HPR. TheStreet lowered shares of HighPoint Resources from a “c-” rating to a “d+” rating in a report on Monday, October 29th. 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 report on Friday, September 7th. BMO Capital Markets set a $6.00 price target on shares of HighPoint Resources and gave the company a “hold” rating in a research report on Sunday, August 12th. Imperial Capital set a $9.00 price target on shares of HighPoint Resources and gave the company a “buy” rating in a research report on Thursday, September 20th. Finally, ValuEngine cut shares of HighPoint Resources from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $8.04.

The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.62.

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 firm had revenue of $131.15 million for the quarter, compared to analyst estimates of $122.47 million. HighPoint Resources had a negative net margin of 44.13% and a negative return on equity of 0.61%. The company’s revenue was up 93.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) EPS. Analysts forecast that HighPoint Resources Corp will post 0.06 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the company. Cubist Systematic Strategies LLC boosted its position 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 valued at $804,000 after acquiring an additional 16,192 shares during the last quarter. Paloma Partners Management Co lifted its position in HighPoint Resources by 315.8% in the second quarter. Paloma Partners Management Co now owns 135,885 shares of the company’s stock valued at $826,000 after buying an additional 103,203 shares during the last quarter. GSA Capital Partners LLP acquired a new position in HighPoint Resources in the second quarter valued at about $277,000. Pinnacle Associates Ltd. acquired a new position in HighPoint Resources in the second quarter valued at about $16,569,000. Finally, Acadian Asset Management LLC acquired a new position in HighPoint Resources in the second quarter valued at about $581,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

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HighPoint Resources Company Profile (NYSE:HPR)

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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