HighPoint Resources Corp (NYSE:HPR) Receives Consensus Rating of “Hold” from Brokerages

Shares of HighPoint Resources Corp (NYSE:HPR) have received a consensus rating of “Hold” from the seven ratings firms that are covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold rating. The average 1-year target price among brokers that have issued a report on the stock in the last year is $0.90.

A number of research firms have weighed in on HPR. ValuEngine downgraded HighPoint Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, September 1st. Zacks Investment Research downgraded HighPoint Resources from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Scotiabank lifted their price objective on HighPoint Resources from $0.25 to $0.30 and gave the stock a “sector perform” rating in a report on Monday, July 13th.

NYSE:HPR traded down $0.03 during trading hours on Tuesday, hitting $0.28. 3,580,004 shares of the company’s stock traded hands, compared to its average volume of 3,845,417. The firm has a market cap of $59.46 million, a P/E ratio of -0.05 and a beta of 4.25. HighPoint Resources has a 52 week low of $0.16 and a 52 week high of $1.98. The business’s fifty day simple moving average is $0.34 and its two-hundred day simple moving average is $0.31. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 364.70.

HighPoint Resources (NYSE:HPR) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.03. HighPoint Resources had a negative return on equity of 2.76% and a negative net margin of 306.03%. The business had revenue of $43.30 million for the quarter, compared to the consensus estimate of $66.78 million. On average, analysts expect that HighPoint Resources will post 0.13 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of HighPoint Resources by 6.2% in the first quarter. State Street Corp now owns 3,386,122 shares of the company’s stock worth $643,000 after buying an additional 197,553 shares during the period. Invesco Ltd. increased its holdings in HighPoint Resources by 13.4% during the 1st quarter. Invesco Ltd. now owns 2,115,750 shares of the company’s stock valued at $402,000 after purchasing an additional 249,286 shares during the period. Jane Street Group LLC purchased a new position in HighPoint Resources during the 2nd quarter valued at about $515,000. Bridgeway Capital Management Inc. purchased a new position in HighPoint Resources during the 2nd quarter valued at about $508,000. Finally, Bank of New York Mellon Corp increased its holdings in HighPoint Resources by 6.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,177,751 shares of the company’s stock valued at $223,000 after purchasing an additional 71,244 shares during the period. Hedge funds and other institutional investors own 67.48% of the company’s stock.

About HighPoint Resources

HighPoint Resources Corporation, together with its subsidiaries, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It primarily holds interests in the Denver Julesburg Basin in Colorado's eastern plains and parts of southeastern Wyoming.

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