HighPoint Resources (NYSE:HPR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday. The brokerage presently has a $4.25 price target on the stock. Zacks Investment Research‘s target price indicates a potential upside of 16.44% from the stock’s current price.

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. “

Other equities analysts also recently issued reports about the stock. Imperial Capital set a $9.00 price objective on shares of HighPoint Resources and gave the stock a “buy” rating in a research note on Thursday, September 20th. Seaport Global Securities upgraded 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 note on Friday, September 7th. Finally, BMO Capital Markets set a $6.00 target price on shares of HighPoint Resources and gave the company a “hold” rating in a research note on Sunday, August 12th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $8.04.

HighPoint Resources stock opened at $3.65 on Friday. HighPoint Resources has a one year low of $3.51 and a one year 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 stock has a market cap of $775.30 million, a PE ratio of -9.61 and a beta of 3.26.

HighPoint Resources (NYSE:HPR) last posted its quarterly earnings data on Wednesday, August 8th. The company reported ($0.02) EPS for the quarter. HighPoint Resources had a negative return on equity of 1.73% and a negative net margin of 52.13%. The business had revenue of $110.40 million for the quarter, compared to analyst estimates of $103.42 million. The business’s revenue for the quarter was up 116.2% on a year-over-year basis. On average, sell-side analysts expect that HighPoint Resources will post 0.1 earnings per share for the current fiscal year.

In other news, SVP Kenneth A. Wonstolen bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was acquired at an average cost of $4.74 per share, for a total transaction of $47,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael R. Starzer bought 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The stock was purchased at an average price of $5.06 per share, with a total value of $253,000.00. The disclosure for this purchase can be found here. Insiders purchased a total of 80,000 shares of company stock valued at $398,400 over the last quarter. 2.70% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the stock. United Services Automobile Association lifted its stake in HighPoint Resources by 97.6% in the 2nd quarter. United Services Automobile Association now owns 21,089 shares of the company’s stock valued at $128,000 after purchasing an additional 10,414 shares during the last quarter. New York State Teachers Retirement System lifted its stake in HighPoint Resources by 13.3% in the 2nd quarter. New York State Teachers Retirement System now owns 98,675 shares of the company’s stock valued at $600,000 after purchasing an additional 11,612 shares during the last quarter. Legal & General Group Plc lifted its stake in HighPoint Resources by 7.1% in the 2nd quarter. Legal & General Group Plc now owns 198,211 shares of the company’s stock valued at $1,203,000 after purchasing an additional 13,129 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in HighPoint Resources by 14.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 132,208 shares of the company’s stock valued at $804,000 after purchasing an additional 16,192 shares during the last quarter. Finally, Penn Capital Management Co. Inc. acquired a new stake in HighPoint Resources in the 2nd quarter valued at about $100,000. Institutional investors and hedge funds own 96.06% of the company’s stock.

About HighPoint Resources

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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