Brokerages Anticipate HighPoint Resources Corp (HPR) Will Announce Quarterly Sales of $121.10 Million

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Equities analysts expect HighPoint Resources Corp (NYSE:HPR) to post sales of $121.10 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for HighPoint Resources’ earnings, with estimates ranging from $108.41 million to $131.70 million. HighPoint Resources reported sales of $67.87 million in the same quarter last year, which would suggest a positive year over year growth rate of 78.4%. The company is scheduled to report its next earnings report after the market closes on Wednesday, October 31st.

According to Zacks, analysts expect that HighPoint Resources will report full year sales of $473.26 million for the current year, with estimates ranging from $437.75 million to $508.90 million. For the next year, analysts expect that the business will post sales of $870.67 million, with estimates ranging from $811.00 million to $973.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for HighPoint Resources.

HighPoint Resources (NYSE:HPR) last issued 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 for the quarter, compared to the consensus estimate of $103.42 million. HighPoint Resources’s revenue for the quarter was up 116.2% on a year-over-year basis.

A number of equities research analysts have recently issued reports on the stock. TheStreet downgraded shares of HighPoint Resources from a “c-” rating to a “d+” rating in a research report on Monday. Seaport Global Securities raised shares of HighPoint Resources from a “neutral” rating to a “buy” rating and set a $9.00 price objective for the company in a research report on Friday, September 7th. BMO Capital Markets set a $6.00 price objective on shares of HighPoint Resources and gave the company a “hold” rating in a research report on Sunday, August 12th. Imperial Capital set a $9.00 price objective on shares of HighPoint Resources and gave the company a “buy” rating in a research report on Thursday, September 20th. Finally, Zacks Investment Research downgraded shares of HighPoint Resources from a “buy” rating to a “hold” rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $8.04.

In other news, SVP Kenneth A. Wonstolen bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The stock was bought at an average price of $4.74 per share, with a total value of $47,400.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Paul W. Geiger III bought 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The stock was purchased at an average cost of $4.90 per share, with a total value of $98,000.00. The disclosure for this purchase can be found here. Insiders purchased a total of 80,000 shares of company stock valued at $398,400 in the last ninety days. 2.70% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. Arizona State Retirement System boosted its holdings in HighPoint Resources by 10.5% in the 3rd quarter. Arizona State Retirement System now owns 160,227 shares of the company’s stock worth $782,000 after buying an additional 15,183 shares during the period. Russell Investments Group Ltd. boosted its holdings in 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 buying an additional 454,827 shares during the period. Northpointe Capital LLC boosted its holdings in 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 buying an additional 190,301 shares during the period. United Services Automobile Association boosted its holdings in 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 buying an additional 10,414 shares during the period. Finally, Northern Trust Corp boosted its holdings in 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 buying an additional 348,923 shares during the period. 96.07% of the stock is owned by institutional investors.

Shares of HPR stock traded up $0.20 during mid-day trading on Wednesday, reaching $3.89. 56,940 shares of the company’s stock traded hands, compared to its average volume of 1,932,429. HighPoint Resources has a 12 month low of $3.45 and a 12 month high of $7.60. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market cap of $775.30 million, a price-to-earnings ratio of -10.21 and a beta of 3.26.

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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