Hi-Crush Partners LP (HCLP) Position Boosted by Sprott Inc.
Sprott Inc. boosted its position in shares of Hi-Crush Partners LP (NYSE:HCLP) by 11.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,175,000 shares of the basic materials company’s stock after buying an additional 125,000 shares during the period. Sprott Inc. owned approximately 1.29% of Hi-Crush Partners worth $12,749,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in HCLP. Round Table Services LLC bought a new position in shares of Hi-Crush Partners during the first quarter valued at $257,000. FMR LLC raised its position in Hi-Crush Partners by 1.1% in the fourth quarter. FMR LLC now owns 1,525,283 shares of the basic materials company’s stock valued at $30,200,000 after buying an additional 16,900 shares during the last quarter. GeoSphere Capital Management acquired a new position in Hi-Crush Partners during the first quarter valued at approximately $867,000. Hellman Jordan Management Co. Inc. MA acquired a new position in Hi-Crush Partners during the second quarter valued at 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 valued at $75,847,000 after buying an additional 2,027,256 shares during the last quarter. 67.16% of the stock is owned by hedge funds and other institutional investors.
Hi-Crush Partners LP (NYSE HCLP) opened at 9.20 on Monday. The stock has a 50 day moving average of $9.85 and a 200-day moving average of $14.82. Hi-Crush Partners LP has a one year low of $7.95 and a one year high of $23.30. The firm’s market capitalization is $837.36 million.
Hi-Crush Partners (NYSE:HCLP) last released its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Hi-Crush Partners had a negative return on equity of 1.58% and a negative net margin of 2.53%. The company had revenue of $135.22 million during the quarter, compared to analysts’ expectations of $138.61 million. During the same quarter in the prior year, the business posted ($0.26) earnings per share. The company’s revenue for the quarter was up 251.9% compared to the same quarter last year. On average, equities analysts predict that Hi-Crush Partners LP will post $1.03 EPS for the current year.
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Several research firms have recently commented on HCLP. Cowen and Company lowered their price objective on shares of Hi-Crush Partners from $22.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday. They noted that the move was a valuation call. Johnson Rice assumed coverage on shares of Hi-Crush Partners in a report on Friday, June 23rd. They issued an “accumulate” rating and a $17.00 target price on the stock. ValuEngine cut shares of Hi-Crush Partners from a “hold” rating to a “sell” rating in a report on Thursday, June 15th. Zacks Investment Research cut shares of Hi-Crush Partners from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, BidaskClub cut shares of Hi-Crush Partners from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company. Hi-Crush Partners currently has a consensus rating of “Buy” and an average price target of $19.91.
Hi-Crush Partners Company Profile
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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