HighPoint Resources Corp (HPR) Receives $8.67 Consensus Target Price from Analysts

HighPoint Resources Corp (NYSE:HPR) has earned an average recommendation of “Hold” from the eleven analysts that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $8.00.

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut HighPoint Resources from an “overweight” rating to an “underweight” rating and set a $5.00 target price for the company. in a report on Friday. MKM Partners started coverage on HighPoint Resources in a research note on Wednesday. They set a “buy” rating and a $9.00 price objective for the company. TheStreet upgraded HighPoint Resources from a “d+” rating to a “c-” rating in a research note on Monday, December 3rd. ValuEngine cut HighPoint Resources from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Finally, Zacks Investment Research cut HighPoint Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, October 30th.

In related news, SVP Troy L. Schindler acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 27th. The stock was purchased at an average cost of $3.50 per share, for a total transaction of $35,000.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.70% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of HPR. Principal Financial Group Inc. purchased a new stake in shares of HighPoint Resources during the 1st quarter worth $3,896,000. Bank of Montreal Can purchased a new stake in HighPoint Resources in the second quarter valued at about $3,323,000. Acadian Asset Management LLC purchased a new stake in HighPoint Resources in the second quarter valued at about $581,000. New York State Teachers Retirement System raised its stake in HighPoint Resources by 13.3% in the second quarter. New York State Teachers Retirement System now owns 98,675 shares of the company’s stock valued at $600,000 after buying an additional 11,612 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in HighPoint Resources in the second quarter valued at about $128,000. Hedge funds and other institutional investors own 98.17% of the company’s stock.

Shares of HPR stock opened at $3.01 on Wednesday. HighPoint Resources has a twelve month low of $2.97 and a twelve month high of $7.60. The firm has a market capitalization of $660.70 million, a price-to-earnings ratio of -7.92 and a beta of 3.23. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.48 and a quick ratio of 0.48.

HighPoint Resources (NYSE:HPR) last issued its earnings results on Wednesday, October 31st. The company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). HighPoint Resources had a negative return on equity of 0.61% and a negative net margin of 44.13%. The firm had revenue of $131.15 million during the quarter, compared to analysts’ expectations of $122.47 million. During the same quarter in the prior year, the company posted ($0.08) earnings per share. HighPoint Resources’s quarterly revenue was up 93.2% compared to the same quarter last year. As a group, equities analysts forecast that HighPoint Resources will post 0.04 EPS for the current year.

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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Analyst Recommendations for HighPoint Resources (NYSE:HPR)

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