Hi-Crush Partners LP (HCLP) Raised to Hold at Zacks Investment Research
Hi-Crush Partners LP (NYSE:HCLP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Hi-Crush Partners LP engages in the production of monocrystalline sand, a specialized mineral that is used as a proppant to enhance the recovery rates of hydrocarbons from oil and natural gas wells. The Company reserves consist of Northern White sand, a resource existing in Wisconsin and limited portions of the upper Midwest region of the United States. It owns, operates and develops sand reserves and related excavation and processing facilities. Hi-Crush Partners LP is based in Houston, Texas. “
Several other brokerages have also recently issued reports on HCLP. Jefferies Group LLC reissued a “buy” rating and issued a $30.00 price objective on shares of Hi-Crush Partners in a research note on Tuesday, May 30th. Evercore ISI started coverage on Hi-Crush Partners in a research note on Thursday, May 25th. They issued an “outperform” rating and a $22.00 price objective on the stock. BidaskClub cut Hi-Crush Partners from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Johnson Rice started coverage on Hi-Crush Partners in a research note on Friday, June 23rd. They issued an “accumulate” rating and a $17.00 price objective on the stock. Finally, UBS AG dropped their price objective on Hi-Crush Partners from $23.00 to $17.00 and set a “buy” rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $19.91.
Hi-Crush Partners (NYSE:HCLP) traded down 6.78% on Tuesday, hitting $8.25. The stock had a trading volume of 2,339,492 shares. The firm’s market capitalization is $750.89 million. Hi-Crush Partners has a 1-year low of $7.60 and a 1-year high of $23.30. The stock’s 50-day moving average is $9.60 and its 200 day moving average is $14.69.
Hi-Crush Partners (NYSE:HCLP) last released its earnings results on Wednesday, August 2nd. The basic materials company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. The firm had revenue of $135.22 million for the quarter, compared to analysts’ expectations of $138.61 million. Hi-Crush Partners had a negative return on equity of 1.58% and a negative net margin of 2.53%. The company’s quarterly revenue was up 251.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.26) earnings per share. On average, equities research analysts predict that Hi-Crush Partners will post $1.03 earnings per share for the current fiscal year.
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A number of hedge funds have recently bought and sold shares of HCLP. Round Table Services LLC bought a new position in Hi-Crush Partners during the first quarter worth approximately $257,000. GeoSphere Capital Management bought a new position in Hi-Crush Partners during the first quarter worth approximately $867,000. Sprott Inc. raised its position in Hi-Crush Partners by 11.9% in the second quarter. Sprott Inc. now owns 1,175,000 shares of the basic materials company’s stock worth $12,749,000 after buying an additional 125,000 shares in the last quarter. Hellman Jordan Management Co. Inc. MA bought a new position in Hi-Crush Partners during the second quarter worth approximately $774,000. Finally, Goldman Sachs Group Inc. raised its position in Hi-Crush Partners by 86.5% in the first quarter. Goldman Sachs Group Inc. now owns 4,371,553 shares of the basic materials company’s stock worth $75,847,000 after buying an additional 2,027,256 shares in the last quarter. Institutional investors own 68.31% of the company’s stock.
About Hi-Crush Partners
Hi-Crush Partners LP is an integrated producer, transporter, marketer and distributor of monocrystalline sand, a specialized mineral that is used as a proppant to manage the recovery rates of hydrocarbons from oil and natural gas wells. Its reserves consist of northern white sand, a resource in Wisconsin and limited portions of the upper Midwest region of the United States.
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