Hi-Crush Partners LP (NYSE:HCLP) shares reached a new 52-week low on Thursday . The company traded as low as $5.26 and last traded at $5.12, with a volume of 25961 shares changing hands. The stock had previously closed at $5.40.
HCLP has been the topic of a number of recent research reports. Piper Jaffray Companies set a $10.00 price objective on shares of Hi-Crush Partners and gave the company a “hold” rating in a research note on Tuesday, October 2nd. R. F. Lafferty set a $10.00 price objective on shares of Hi-Crush Partners and gave the company a “buy” rating in a research note on Tuesday. Barclays started coverage on shares of Hi-Crush Partners in a research note on Thursday, August 16th. They issued an “equal weight” rating and a $14.00 price objective on the stock. Zacks Investment Research downgraded shares of Hi-Crush Partners from a “hold” rating to a “sell” rating in a report on Thursday, October 25th. Finally, B. Riley lowered their target price on shares of Hi-Crush Partners from $18.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, September 6th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. Hi-Crush Partners has an average rating of “Hold” and a consensus target price of $11.73.
The firm has a market cap of $532.60 million, a P/E ratio of 4.96 and a beta of 1.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.18 and a current ratio of 2.70.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Thursday, November 1st were issued a $0.225 dividend. The ex-dividend date was Wednesday, October 31st. This represents a $0.90 annualized dividend and a dividend yield of 17.96%. Hi-Crush Partners’s dividend payout ratio is currently 89.11%.
In other news, insider William E. Barker sold 9,444 shares of the stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $12.40, for a total value of $117,105.60. Following the completion of the sale, the insider now owns 17,968 shares in the company, valued at $222,803.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 34.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. B. Riley Wealth Management Inc. purchased a new stake in Hi-Crush Partners during the third quarter worth about $191,000. LPL Financial LLC increased its holdings in Hi-Crush Partners by 16.0% during the third quarter. LPL Financial LLC now owns 52,276 shares of the basic materials company’s stock worth $565,000 after buying an additional 7,223 shares during the last quarter. First Republic Investment Management Inc. increased its holdings in Hi-Crush Partners by 1,251.7% during the third quarter. First Republic Investment Management Inc. now owns 497,293 shares of the basic materials company’s stock worth $5,371,000 after buying an additional 460,503 shares during the last quarter. Wedbush Securities Inc. purchased a new stake in Hi-Crush Partners during the third quarter worth about $151,000. Finally, McGowan Group Asset Management Inc. increased its holdings in Hi-Crush Partners by 152.6% during the third quarter. McGowan Group Asset Management Inc. now owns 98,055 shares of the basic materials company’s stock worth $1,059,000 after buying an additional 59,230 shares during the last quarter. Institutional investors and hedge funds own 13.35% of the company’s stock.
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Hi-Crush Partners Company Profile (NYSE:HCLP)
Hi-Crush Partners LP, together with its subsidiaries, provides proppant and logistics solutions to the energy industry in North America. The company produces monocrystalline sand, a specialized mineral used as a proppant during the well completion process to facilitate the recovery of hydrocarbons from oil and natural gas wells.
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