Shares of Hi-Crush Partners LP (NYSE:HCLP) fell 5% during mid-day trading on Monday . The company traded as low as $12.25 and last traded at $12.25. 1,923,678 shares changed hands during trading, an increase of 3% from the average session volume of 1,873,083 shares. The stock had previously closed at $12.90.
A number of research firms recently issued reports on HCLP. Zacks Investment Research downgraded shares of Hi-Crush Partners from a “buy” rating to a “hold” rating in a report on Monday, July 23rd. ValuEngine downgraded shares of Hi-Crush Partners from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Cowen downgraded shares of Hi-Crush Partners from an “outperform” rating to a “market perform” rating and set a $16.00 price objective for the company. in a report on Monday, July 30th. They noted that the move was a valuation call. Jefferies Financial Group downgraded shares of Hi-Crush Partners from a “buy” rating to a “hold” rating and set a $15.00 price objective for the company. in a report on Wednesday, July 25th. Finally, Piper Jaffray Companies downgraded shares of Hi-Crush Partners from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $14.00 to $14.15 in a report on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. Hi-Crush Partners presently has an average rating of “Hold” and an average price target of $16.20.
The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 12.48 and a beta of 1.40. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.47 and a current ratio of 1.85.
Hi-Crush Partners (NYSE:HCLP) last posted its earnings results on Tuesday, July 31st. The basic materials company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.10). The business had revenue of $248.52 million during the quarter, compared to analysts’ expectations of $250.12 million. Hi-Crush Partners had a return on equity of 24.51% and a net margin of 22.92%. Hi-Crush Partners’s revenue for the quarter was up 83.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 EPS. analysts expect that Hi-Crush Partners LP will post 2.76 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 14th. Stockholders of record on Friday, August 3rd were paid a $0.75 dividend. This is an increase from Hi-Crush Partners’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, August 2nd. This represents a $3.00 annualized dividend and a dividend yield of 24.49%. Hi-Crush Partners’s dividend payout ratio (DPR) is presently 297.03%.
In other news, insider William E. Barker sold 12,367 shares of Hi-Crush Partners stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $12.90, for a total value of $159,534.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 34.80% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. increased its stake in shares of Hi-Crush Partners by 4.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 312,676 shares of the basic materials company’s stock worth $3,690,000 after purchasing an additional 14,400 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Hi-Crush Partners by 31.2% in the first quarter. Wells Fargo & Company MN now owns 83,471 shares of the basic materials company’s stock valued at $885,000 after acquiring an additional 19,862 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Hi-Crush Partners by 213.5% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 34,278 shares of the basic materials company’s stock valued at $363,000 after acquiring an additional 23,343 shares during the period. Van ECK Associates Corp bought a new position in shares of Hi-Crush Partners in the first quarter valued at approximately $2,286,000. Finally, LPL Financial LLC boosted its position in shares of Hi-Crush Partners by 95.6% in the first quarter. LPL Financial LLC now owns 41,292 shares of the basic materials company’s stock valued at $438,000 after acquiring an additional 20,184 shares during the period. Hedge funds and other institutional investors own 26.74% of the company’s stock.
Hi-Crush Partners Company Profile (NYSE:HCLP)
Hi-Crush Partners LP, together with its subsidiaries, provides proppant and logistics solutions to the energy industry in North America. The company produces monocrystalline sand, a specialized mineral used as a proppant during the well completion process to facilitate the recovery of hydrocarbons from oil and natural gas wells.
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