Hi-Crush Partners LP (HCLP) Position Increased by Van ECK Associates Corp
Van ECK Associates Corp increased its holdings in shares of Hi-Crush Partners LP (NYSE:HCLP) by 10.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 239,227 shares of the basic materials company’s stock after acquiring an additional 23,590 shares during the quarter. Van ECK Associates Corp owned approximately 0.27% of Hi-Crush Partners worth $2,823,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. Barnett & Company Inc. lifted its holdings in Hi-Crush Partners by 12.9% during the second quarter. Barnett & Company Inc. now owns 62,120 shares of the basic materials company’s stock worth $733,000 after acquiring an additional 7,100 shares during the period. Staley Capital Advisers Inc. bought a new stake in Hi-Crush Partners during the first quarter worth $106,000. Raymond James Financial Services Advisors Inc. lifted its holdings in Hi-Crush Partners by 4.8% during 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 acquiring an additional 14,400 shares during the period. Private Advisor Group LLC bought a new stake in Hi-Crush Partners during the second quarter worth $167,000. Finally, Ingalls & Snyder LLC bought a new stake in Hi-Crush Partners during the second quarter worth $198,000. Institutional investors and hedge funds own 24.26% of the company’s stock.
A number of brokerages recently commented on HCLP. B. Riley dropped their price target on Hi-Crush Partners from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, September 6th. Johnson Rice lowered Hi-Crush Partners from a “buy” rating to an “accumulate” rating and set a $18.00 price target on the stock. in a report on Monday, August 20th. Barclays began coverage on Hi-Crush Partners in a report on Thursday, August 16th. They set an “equal weight” rating and a $14.00 price target on the stock. Simmons lowered Hi-Crush Partners from an “overweight” rating to a “neutral” rating and set a $14.00 price target on the stock. in a report on Tuesday, August 7th. They noted that the move was a valuation call. Finally, Piper Jaffray Companies lowered Hi-Crush Partners from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $14.00 to $14.15 in a report on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.61.
Shares of HCLP opened at $12.10 on Friday. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 5.86 and a beta of 1.37. 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 LP has a 1 year low of $8.60 and a 1 year high of $16.65.
Hi-Crush Partners (NYSE:HCLP) last issued its earnings results on Tuesday, July 31st. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.10). The firm had revenue of $248.52 million during the quarter, compared to the consensus estimate of $250.12 million. Hi-Crush Partners had a net margin of 22.92% and a return on equity of 24.51%. The business’s quarterly revenue was up 83.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 earnings per share. research analysts anticipate that Hi-Crush Partners LP will post 2.56 earnings per share for the current fiscal year.
Hi-Crush Partners Profile
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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