HighPoint Resources (NYSE:HPR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday. The brokerage currently has a $4.25 target price on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 16.44% from the stock’s current price.
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 research firms also recently commented on HPR. Imperial Capital set a $9.00 price objective on shares of HighPoint Resources and gave the company a “buy” rating in a research note on Thursday, September 20th. BMO Capital Markets set a $6.00 target price on shares of HighPoint Resources and gave the stock a “hold” rating in a report on Sunday, August 12th. Finally, Seaport Global Securities raised shares of HighPoint Resources from a “neutral” rating to a “buy” rating and set a $9.00 price objective on the stock in a report on Friday, September 7th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $8.04.
HighPoint Resources (NYSE:HPR) last posted its quarterly earnings data on Wednesday, August 8th. The company reported ($0.02) EPS for the quarter. HighPoint Resources had a negative net margin of 52.13% and a negative return on equity of 1.73%. The company had revenue of $110.40 million for the quarter, compared to the consensus estimate of $103.42 million. The company’s revenue for the quarter was up 116.2% on a year-over-year basis. On average, research analysts predict that HighPoint Resources will post 0.1 EPS for the current year.
In other news, COO Paul W. Geiger III acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The shares were acquired at an average price of $4.90 per share, with a total value of $98,000.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael R. Starzer acquired 50,000 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The stock was purchased at an average cost of $5.06 per share, for a total transaction of $253,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 80,000 shares of company stock worth $398,400. Corporate insiders own 2.70% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its holdings in shares of HighPoint Resources by 13.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,832,155 shares of the company’s stock worth $18,701,000 after acquiring an additional 454,827 shares during the period. Northpointe Capital LLC increased its holdings in shares of HighPoint Resources by 13.8% in the 3rd quarter. Northpointe Capital LLC now owns 1,573,280 shares of the company’s stock worth $7,678,000 after acquiring an additional 190,301 shares during the period. United Services Automobile Association increased its holdings in shares of HighPoint Resources by 97.6% in the 2nd quarter. United Services Automobile Association now owns 21,089 shares of the company’s stock worth $128,000 after acquiring an additional 10,414 shares during the period. Northern Trust Corp increased its holdings in shares of HighPoint Resources by 30.5% in the 2nd quarter. Northern Trust Corp now owns 1,494,722 shares of the company’s stock worth $9,087,000 after acquiring an additional 348,923 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in HighPoint Resources by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,436,231 shares of the company’s stock valued at $14,812,000 after buying an additional 42,182 shares during the period. 96.06% of the stock is currently owned by institutional investors and hedge funds.
About HighPoint Resources
HighPoint Resources Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and natural gas resources in the United States. It primarily holds interests in the Northeast Wattenberg and Hereford fields of the Denver Julesburg basin located in the eastern plains of Colorado and parts of southeastern Wyoming.
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