Cushing Asset Management LP trimmed its position in shares of Hi-Crush Partners LP (NYSE:HCLP) by 11.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 868,375 shares of the basic materials company’s stock after selling 110,314 shares during the quarter. Cushing Asset Management LP owned 0.95% of Hi-Crush Partners worth $9,292,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of HCLP. First National Bank of Mount Dora Trust Investment Services acquired a new position in shares of Hi-Crush Partners during the fourth quarter worth approximately $107,000. GSA Capital Partners LLP purchased a new stake in Hi-Crush Partners in the 3rd quarter valued at $129,000. Advisor Group Inc. raised its position in Hi-Crush Partners by 80.5% in the 3rd quarter. Advisor Group Inc. now owns 15,780 shares of the basic materials company’s stock valued at $151,000 after buying an additional 7,036 shares during the last quarter. Penn Capital Management Co. Inc. raised its position in Hi-Crush Partners by 44.8% in the 4th quarter. Penn Capital Management Co. Inc. now owns 24,284 shares of the basic materials company’s stock valued at $260,000 after buying an additional 7,513 shares during the last quarter. Finally, Pinnacle Associates Ltd. raised its position in Hi-Crush Partners by 103.2% in the 3rd quarter. Pinnacle Associates Ltd. now owns 29,460 shares of the basic materials company’s stock valued at $280,000 after buying an additional 14,960 shares during the last quarter. 34.11% of the stock is currently owned by institutional investors.
A number of equities research analysts recently commented on the company. Zacks Investment Research lowered Hi-Crush Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. R. F. Lafferty increased their price target on Hi-Crush Partners from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. ValuEngine raised Hi-Crush Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Guggenheim reissued a “buy” rating and issued a $20.00 price target on shares of Hi-Crush Partners in a research report on Friday, February 23rd. Finally, Cowen set a $16.00 price target on Hi-Crush Partners and gave the company a “buy” rating in a research report on Monday, January 29th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Hi-Crush Partners presently has an average rating of “Buy” and an average target price of $16.66.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 13th. Shareholders of record on Thursday, February 1st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 6.23%. The ex-dividend date of this dividend was Wednesday, January 31st. This is an increase from Hi-Crush Partners’s previous quarterly dividend of $0.15. Hi-Crush Partners’s dividend payout ratio is 88.89%.
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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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