Zacks Investment Research Lowers HighPoint Resources (HPR) to Strong Sell

HighPoint Resources (NYSE:HPR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Friday, Zacks.com reports.

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. “

A number of other analysts have also recently issued reports on the company. MKM Partners decreased their target price on HighPoint Resources from $7.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, February 28th. Ifs Securities reiterated an “outperform” rating on shares of HighPoint Resources in a report on Sunday, February 3rd. Finally, ValuEngine upgraded HighPoint Resources from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $6.38.

Shares of NYSE:HPR opened at $2.23 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.43 and a quick ratio of 0.43. HighPoint Resources has a 1 year low of $2.06 and a 1 year high of $7.60. The stock has a market cap of $487.38 million, a PE ratio of -74.33 and a beta of 3.23.

HighPoint Resources (NYSE:HPR) last issued its earnings results on Monday, May 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.02). HighPoint Resources had a negative return on equity of 0.95% and a net margin of 10.53%. The firm had revenue of $101.98 million for the quarter, compared to analysts’ expectations of $109.28 million. During the same quarter in the previous year, the firm posted ($0.05) EPS. The firm’s revenue for the quarter was up 26.2% compared to the same quarter last year. As a group, sell-side analysts forecast that HighPoint Resources will post -0.02 EPS for the current year.

Large investors have recently modified their holdings of the company. Deltec Asset Management LLC purchased a new position in HighPoint Resources in the 4th quarter worth approximately $25,000. Marshall Wace North America L.P. purchased a new position in HighPoint Resources in the 1st quarter worth approximately $25,000. PEAK6 Investments LLC purchased a new position in HighPoint Resources in the 4th quarter worth approximately $34,000. BNP Paribas Arbitrage SA purchased a new position in HighPoint Resources in the 1st quarter worth approximately $50,000. Finally, Magnus Financial Group LLC purchased a new position in HighPoint Resources in the 4th quarter worth approximately $61,000. Institutional investors and hedge funds own 99.95% 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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