Hsbc Holdings PLC bought a new position in Hi-Crush Partners LP (NYSE:HCLP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 16,177 shares of the basic materials company’s stock, valued at approximately $58,000.
A number of other hedge funds have also recently modified their holdings of HCLP. Wells Fargo & Company MN lifted its holdings in shares of Hi-Crush Partners by 31.6% in the third quarter. Wells Fargo & Company MN now owns 108,060 shares of the basic materials company’s stock valued at $1,167,000 after purchasing an additional 25,943 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Hi-Crush Partners in the third quarter valued at about $212,000. Janney Montgomery Scott LLC acquired a new stake in shares of Hi-Crush Partners in the third quarter valued at about $124,000. Allianz Asset Management GmbH acquired a new stake in shares of Hi-Crush Partners in the third quarter valued at about $10,992,000. Finally, Wedbush Securities Inc. acquired a new stake in shares of Hi-Crush Partners in the third quarter valued at about $151,000. 8.32% of the stock is currently owned by institutional investors.
Shares of NYSE:HCLP opened at $3.77 on Friday. Hi-Crush Partners LP has a 12-month low of $3.19 and a 12-month high of $16.65. The company has a market cap of $381.00 million, a PE ratio of 2.53 and a beta of 1.97. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.85 and a quick ratio of 1.48.
A number of analysts recently issued reports on HCLP shares. Zacks Investment Research raised Hi-Crush Partners from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. UBS Group set a $4.00 target price on Hi-Crush Partners and gave the company a “hold” rating in a research report on Monday, January 14th. R. F. Lafferty downgraded Hi-Crush Partners from a “buy” rating to a “hold” rating and lowered their target price for the company from $10.00 to $4.00 in a research report on Monday, January 7th. B. Riley reaffirmed a “neutral” rating and issued a $6.50 target price (down previously from $10.00) on shares of Hi-Crush Partners in a research report on Tuesday, January 8th. Finally, Jefferies Financial Group reaffirmed a “sell” rating on shares of Hi-Crush Partners in a research report on Tuesday, April 2nd. Six investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $9.29.
TRADEMARK VIOLATION NOTICE: This article was first published by Baseball Daily News and is owned by of Baseball Daily News. If you are reading this article on another website, it was stolen and reposted in violation of United States & international copyright legislation. The correct version of this article can be read at https://www.baseballdailydigest.com/news/2019/04/27/hsbc-holdings-plc-invests-58000-in-hi-crush-partners-lp-hclp-stock.html.
Hi-Crush Partners Company Profile
Hi-Crush Partners LP, together with its subsidiaries, provides proppant and logistics solutions to the petroleum industry in North America. The company offers raw frac sand used in hydraulic fracturing process for oil and natural gas wells. It owns and operates multiple frac sand mining facilities, which include a 971-acre facility with integrated rail infrastructure located in Wyeville, Wisconsin; a 1,187-acre facility with integrated rail infrastructure located in Eau Claire County, Wisconsin; a 1,285-acre facility with integrated rail infrastructure located in Blair, Wisconsin; and a 1,626-acre facility with integrated rail infrastructure located in Independence, Wisconsin and Whitehall, Wisconsin.
Further Reading: What is a portfolio manager?
Receive News & Ratings for Hi-Crush Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hi-Crush Partners and related companies with MarketBeat.com's FREE daily email newsletter.