HighPoint Resources (NYSE:HPR) Rating Lowered to Strong Sell at Zacks Investment Research

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Zacks Investment Research cut shares of HighPoint Resources (NYSE:HPR) from a hold rating to a strong sell rating in a report issued on Thursday morning, 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. “

Separately, ValuEngine downgraded Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $6.38.

Shares of HighPoint Resources stock traded down $0.10 during trading hours on Thursday, reaching $1.27. 12,795 shares of the stock traded hands, compared to its average volume of 884,238. The business’s 50 day moving average is $1.68. The company has a market capitalization of $283.23 million, a price-to-earnings ratio of -42.22 and a beta of 3.11. HighPoint Resources has a one year low of $1.28 and a one year high of $7.06. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.62.

HighPoint Resources (NYSE:HPR) last released its quarterly 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). The firm had revenue of $101.98 million for the quarter, compared to the consensus estimate of $109.28 million. HighPoint Resources had a net margin of 10.53% and a negative return on equity of 0.95%. The company’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. On average, sell-side analysts expect that HighPoint Resources will post -0.16 EPS for the current year.

In other HighPoint Resources news, Director Michael R. Starzer purchased 50,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were bought at an average cost of $2.04 per share, with a total value of $102,000.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Paul W. Geiger III acquired 30,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were purchased at an average cost of $1.88 per share, for a total transaction of $56,400.00. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 154,000 shares of company stock worth $298,530. 1.00% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in HighPoint Resources by 0.5% during the fourth quarter. Principal Financial Group Inc. now owns 910,153 shares of the company’s stock worth $2,266,000 after purchasing an additional 4,341 shares in the last quarter. Raymond James & Associates lifted its stake in shares of HighPoint Resources by 14.7% in the 4th quarter. Raymond James & Associates now owns 52,266 shares of the company’s stock valued at $130,000 after purchasing an additional 6,711 shares during the last quarter. United Services Automobile Association lifted its stake in shares of HighPoint Resources by 26.6% in the 4th quarter. United Services Automobile Association now owns 38,081 shares of the company’s stock valued at $95,000 after purchasing an additional 8,012 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in HighPoint Resources by 12.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 77,757 shares of the company’s stock worth $194,000 after acquiring an additional 8,523 shares during the last quarter. Finally, Penn Capital Management Co. Inc. lifted its position in HighPoint Resources by 32.1% during the 4th quarter. Penn Capital Management Co. Inc. now owns 39,850 shares of the company’s stock worth $99,000 after acquiring an additional 9,680 shares during the last quarter. 98.01% of the stock is currently owned by institutional investors and hedge funds.

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.

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