L & S Advisors Inc grew its holdings in shares of Hi-Crush Partners LP (NYSE:HCLP) by 161.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,575 shares of the basic materials company’s stock after purchasing an additional 83,200 shares during the period. L & S Advisors Inc owned about 0.15% of Hi-Crush Partners worth $1,278,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the business. Ninepoint Partners LP acquired a new position in Hi-Crush Partners in the third quarter valued at approximately $15,200,000. ING Groep NV raised its stake in shares of Hi-Crush Partners by 72.6% during the third quarter. ING Groep NV now owns 2,400,552 shares of the basic materials company’s stock worth $22,805,000 after purchasing an additional 1,010,000 shares during the last quarter. Atlantic Trust Group LLC purchased a new stake in shares of Hi-Crush Partners during the second quarter worth approximately $6,227,000. HITE Hedge Asset Management LLC raised its stake in shares of Hi-Crush Partners by 187.2% during the second quarter. HITE Hedge Asset Management LLC now owns 587,625 shares of the basic materials company’s stock worth $6,376,000 after purchasing an additional 383,044 shares during the last quarter. Finally, Clear Harbor Asset Management LLC raised its stake in shares of Hi-Crush Partners by 69.5% during the third quarter. Clear Harbor Asset Management LLC now owns 796,137 shares of the basic materials company’s stock worth $7,563,000 after purchasing an additional 326,414 shares during the last quarter. Institutional investors own 44.03% of the company’s stock.
Several research firms have issued reports on HCLP. BidaskClub downgraded Hi-Crush Partners from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Jefferies Group set a $15.00 target price on shares of Hi-Crush Partners and gave the stock a “buy” rating in a report on Monday, August 28th. Janney Montgomery Scott started coverage on shares of Hi-Crush Partners in a report on Wednesday, September 6th. They issued a “neutral” rating and a $10.00 target price for the company. Cowen reissued a “buy” rating and set a $12.00 price objective on shares of Hi-Crush Partners in a report on Sunday, September 17th. Finally, Piper Jaffray Companies started coverage on shares of Hi-Crush Partners in a report on Monday, September 25th. They set an “overweight” rating and a $11.75 price objective for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $16.36.
Hi-Crush Partners LP (NYSE HCLP) traded down $0.55 on Thursday, hitting $10.00. 1,515,700 shares of the company’s stock were exchanged, compared to its average volume of 1,871,329. The company has a market capitalization of $960.37, a price-to-earnings ratio of 32.97 and a beta of 0.94. Hi-Crush Partners LP has a fifty-two week low of $7.25 and a fifty-two week high of $23.30. The company has a current ratio of 1.77, a quick ratio of 1.29 and a debt-to-equity ratio of 0.24.
Hi-Crush Partners (NYSE:HCLP) last posted its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.08). The firm had revenue of $167.58 million during the quarter, compared to the consensus estimate of $168.95 million. Hi-Crush Partners had a return on equity of 5.01% and a net margin of 7.09%. The business’s revenue for the quarter was up 259.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.21) earnings per share. equities research analysts expect that Hi-Crush Partners LP will post 0.97 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, October 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.00%. Hi-Crush Partners’s payout ratio is currently 187.51%.
Hi-Crush Partners declared that its board has authorized a share buyback program on Tuesday, October 17th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the basic materials company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Hi-Crush Partners Company Profile
Hi-Crush Partners LP is an integrated producer, transporter, marketer and distributor of monocrystalline sand, a specialized mineral that is used as a proppant to manage the recovery rates of hydrocarbons from oil and natural gas wells. Its reserves consist of northern white sand, a resource in Wisconsin and limited portions of the upper Midwest region of the United States.
Want to see what other hedge funds are holding HCLP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hi-Crush Partners LP (NYSE:HCLP).
Receive News & Ratings for Hi-Crush Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hi-Crush Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.