Hi-Crush Partners LP (NYSE:HCLP)’s share price dropped 5.2% during trading on Wednesday . The stock traded as low as $9.91 and last traded at $10.00. Approximately 1,515,703 shares were traded during trading, a decline of 19% from the average daily volume of 1,871,329 shares. The stock had previously closed at $10.55.

HCLP has been the topic of several research analyst reports. Cowen set a $12.00 target price on shares of Hi-Crush Partners and gave the company a “buy” rating in a research note on Wednesday, October 18th. BidaskClub raised shares of Hi-Crush Partners from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. TheStreet raised shares of Hi-Crush Partners from a “d+” rating to a “c+” rating in a research note on Wednesday, November 1st. Zacks Investment Research cut shares of Hi-Crush Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Finally, Janney Montgomery Scott initiated coverage on shares of Hi-Crush Partners in a research note on Wednesday, September 6th. They issued a “neutral” rating and a $10.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company. Hi-Crush Partners presently has a consensus rating of “Buy” and an average price target of $16.36.

The firm has a market cap of $969.48, a P/E ratio of 33.28 and a beta of 0.94. The company has a quick ratio of 1.29, a current ratio of 1.77 and a debt-to-equity ratio of 0.24.

Hi-Crush Partners (NYSE:HCLP) last announced its quarterly earnings data on Tuesday, October 31st. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.08). Hi-Crush Partners had a return on equity of 5.01% and a net margin of 7.09%. The business had revenue of $167.58 million during the quarter, compared to analyst estimates of $168.95 million. During the same period in the prior year, the firm earned ($0.21) EPS. The business’s revenue for the quarter was up 259.9% on a year-over-year basis. equities analysts forecast that Hi-Crush Partners LP will post 0.97 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 6.00%. The ex-dividend date was Monday, October 30th. Hi-Crush Partners’s payout ratio is 187.51%.

Hi-Crush Partners declared that its Board of Directors has approved a stock repurchase program on Tuesday, October 17th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the basic materials company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional investors and hedge funds have recently made changes to their positions in the business. Strid Group LLC acquired a new position in shares of Hi-Crush Partners in the second quarter worth about $109,000. S. Muoio & CO. LLC acquired a new position in shares of Hi-Crush Partners in the second quarter worth about $111,000. Bank of New York Mellon Corp acquired a new position in shares of Hi-Crush Partners in the first quarter worth about $209,000. GSA Capital Partners LLP acquired a new position in shares of Hi-Crush Partners in the third quarter worth about $129,000. Finally, Pinnacle Associates Ltd. acquired a new position in shares of Hi-Crush Partners in the second quarter worth about $157,000. Institutional investors own 44.03% of the company’s stock.

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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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