Pinnacle Associates Ltd. Reduces Holdings in HighPoint Resources Corp (NYSE:HPR)

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Pinnacle Associates Ltd. trimmed its holdings in shares of HighPoint Resources Corp (NYSE:HPR) by 8.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,540,671 shares of the company’s stock after selling 306,319 shares during the period. Pinnacle Associates Ltd. owned about 1.66% of HighPoint Resources worth $6,444,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Stifel Financial Corp purchased a new position in shares of HighPoint Resources during the 4th quarter worth approximately $84,000. Geode Capital Management LLC raised its stake in shares of HighPoint Resources by 15.3% during the 4th quarter. Geode Capital Management LLC now owns 1,168,149 shares of the company’s stock worth $2,908,000 after buying an additional 155,267 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of HighPoint Resources by 365.1% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 36,117 shares of the company’s stock worth $90,000 after buying an additional 28,352 shares in the last quarter. Millennium Management LLC purchased a new position in shares of HighPoint Resources during the 4th quarter worth approximately $927,000. Finally, FMR LLC purchased a new position in shares of HighPoint Resources during the 4th quarter worth approximately $74,000. 97.77% of the stock is owned by institutional investors and hedge funds.

NYSE:HPR traded up $0.02 during trading hours on Tuesday, reaching $1.22. 13,210 shares of the company traded hands, compared to its average volume of 1,283,999. The firm’s 50-day moving average is $1.39 and its 200-day moving average is $2.10. The stock has a market cap of $256.67 million, a P/E ratio of -40.50 and a beta of 3.09. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.43 and a quick ratio of 0.43. HighPoint Resources Corp has a 1-year low of $0.91 and a 1-year high of $5.67.

HighPoint Resources (NYSE:HPR) last announced its earnings results on Monday, August 5th. The company reported ($0.07) EPS for the quarter, meeting analysts’ consensus estimates of ($0.07). The firm had revenue of $107.58 million for the quarter, compared to analysts’ expectations of $108.00 million. HighPoint Resources had a negative return on equity of 2.00% and a net margin of 20.14%. HighPoint Resources’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.02) EPS. As a group, research analysts predict that HighPoint Resources Corp will post -0.19 earnings per share for the current year.

In other news, Director Michael R. Starzer bought 50,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were acquired at an average cost of $2.04 per share, with a total value of $102,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Paul W. Geiger III bought 29,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average cost of $1.92 per share, for a total transaction of $55,680.00. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 179,000 shares of company stock worth $321,980. 1.00% of the stock is owned by insiders.

A number of brokerages have recently issued reports on HPR. ValuEngine raised HighPoint Resources from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research downgraded HighPoint Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 25th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $6.45.

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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Institutional Ownership by Quarter for HighPoint Resources (NYSE:HPR)

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