HighPoint Resources (HPR) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of HighPoint Resources (NYSE:HPR) from a hold rating to a buy rating in a report released on Saturday morning. Zacks Investment Research currently has $4.25 target price on the stock.

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 brokerages have also recently issued reports 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 price objective on shares of HighPoint Resources and gave the company a hold rating in a research note 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 research note on Friday, September 7th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $8.04.

Shares of HPR stock opened at $3.69 on Friday. HighPoint Resources has a 52-week low of $3.45 and a 52-week high of $7.60. The company has a market capitalization of $775.30 million, a price-to-earnings ratio of -9.58 and a beta of 3.26. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.61.

HighPoint Resources (NYSE:HPR) last announced its quarterly earnings data on Wednesday, August 8th. The company reported ($0.02) earnings per share (EPS) for the quarter. HighPoint Resources had a negative net margin of 52.13% and a negative return on equity of 1.73%. The business had revenue of $110.40 million during the quarter, compared to the consensus estimate of $103.42 million. The firm’s revenue was up 116.2% compared to the same quarter last year. As a group, equities analysts anticipate that HighPoint Resources will post 0.1 earnings per share for the current year.

In other news, Director Michael R. Starzer purchased 50,000 shares of HighPoint Resources stock in a transaction dated Friday, August 17th. The shares were bought at an average cost of $5.06 per share, with a total value of $253,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kenneth A. Wonstolen purchased 10,000 shares of HighPoint Resources stock in a transaction dated Thursday, August 16th. The shares were purchased at an average cost of $4.74 per share, for a total transaction of $47,400.00. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 80,000 shares of company stock worth $398,400. Insiders own 2.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in HPR. Principal Financial Group Inc. bought a new position in shares of HighPoint Resources during the first quarter worth $3,896,000. Bank of Montreal Can bought a new position in shares of HighPoint Resources during the second quarter worth $3,323,000. Fox Run Management L.L.C. acquired a new stake in shares of HighPoint Resources during the second quarter worth $128,000. Acadian Asset Management LLC acquired a new stake in shares of HighPoint Resources during the second quarter worth $581,000. Finally, Northpointe Capital LLC acquired a new stake in shares of HighPoint Resources during the second quarter worth $8,409,000. 96.07% of the stock is currently owned by institutional investors.

HighPoint Resources Company Profile

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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