HighPoint Resources (NYSE:HPR) Upgraded to Buy by Zacks Investment Research

HighPoint Resources (NYSE:HPR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, Zacks.com reports. The firm presently has a $1.50 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 28.21% from the stock’s previous close.

According to Zacks, “HighPoint Resources Corporation is an exploration and production company. It focuses on the development of oil and natural gas assets primarily in the Denver-Julesburg Basin of Colorado. HighPoint Resources Corporation, formerly known as Bill Barrett Corporation, is based in Denver, Colorado. “

HPR has been the subject of several other reports. Seaport Global Securities cut HighPoint Resources from a “buy” rating to a “neutral” rating in a research report on Thursday, October 10th. ValuEngine upgraded HighPoint Resources from a “hold” rating to a “buy” rating in a research report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. HighPoint Resources presently has an average rating of “Buy” and an average price target of $3.00.

HighPoint Resources stock traded down $0.14 during midday trading on Friday, hitting $1.17. 746,046 shares of the company’s stock were exchanged, compared to its average volume of 1,007,865. HighPoint Resources has a 52-week low of $0.91 and a 52-week high of $3.11. The stock has a 50-day moving average price of $1.52 and a two-hundred day moving average price of $1.35. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market cap of $288.46 million, a P/E ratio of 1.83 and a beta of 3.45.

HighPoint Resources (NYSE:HPR) last posted its earnings results on Monday, November 4th. The company reported ($0.03) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. HighPoint Resources had a negative return on equity of 2.78% and a net margin of 29.34%. The business had revenue of $121.28 million during the quarter, compared to analysts’ expectations of $126.52 million. During the same period in the previous year, the business earned $0.01 earnings per share. The firm’s revenue was down 7.5% on a year-over-year basis. As a group, sell-side analysts expect that HighPoint Resources will post -0.17 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the stock. Marshall Wace North America L.P. purchased a new position in shares of HighPoint Resources in the 1st quarter worth about $25,000. Royal Bank of Canada boosted its holdings in shares of HighPoint Resources by 133.6% in the 2nd quarter. Royal Bank of Canada now owns 19,009 shares of the company’s stock worth $34,000 after purchasing an additional 10,872 shares in the last quarter. Walleye Trading LLC purchased a new position in shares of HighPoint Resources in the 2nd quarter worth about $54,000. Stifel Financial Corp boosted its holdings in shares of HighPoint Resources by 17.1% in the 3rd quarter. Stifel Financial Corp now owns 59,908 shares of the company’s stock worth $95,000 after purchasing an additional 8,730 shares in the last quarter. Finally, Susquehanna International Group LLP boosted its holdings in shares of HighPoint Resources by 228.0% in the 2nd quarter. Susquehanna International Group LLP now owns 59,374 shares of the company’s stock worth $108,000 after purchasing an additional 41,274 shares in the last quarter. Institutional investors and hedge funds own 93.18% of the company’s stock.

HighPoint Resources Company Profile

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.

Further Reading: Cash Flow

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