JPMorgan Chase & Co. cut its position in shares of Hi-Crush Partners LP (NYSE:HCLP) by 32.5% during the 3rd quarter, Holdings Channel reports. The firm owned 838,929 shares of the basic materials company’s stock after selling 403,234 shares during the quarter. JPMorgan Chase & Co.’s holdings in Hi-Crush Partners were worth $9,060,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Malaga Cove Capital LLC boosted its holdings in Hi-Crush Partners by 13.1% during the third quarter. Malaga Cove Capital LLC now owns 118,544 shares of the basic materials company’s stock worth $1,292,000 after purchasing an additional 13,750 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Hi-Crush Partners by 10.9% during the second quarter. Van ECK Associates Corp now owns 239,227 shares of the basic materials company’s stock worth $2,823,000 after purchasing an additional 23,590 shares during the last quarter. Ingalls & Snyder LLC purchased a new position in Hi-Crush Partners during the second quarter worth about $198,000. Royce & Associates LP purchased a new position in Hi-Crush Partners during the second quarter worth about $1,134,000. Finally, Alps Advisors Inc. purchased a new position in Hi-Crush Partners during the third quarter worth about $423,000. Institutional investors and hedge funds own 13.35% of the company’s stock.

A number of research analysts have weighed in on the stock. ValuEngine upgraded shares of Hi-Crush Partners from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 9th. TheStreet cut shares of Hi-Crush Partners from a “b-” rating to a “c+” rating in a research note on Wednesday, November 7th. R. F. Lafferty set a $10.00 target price on shares of Hi-Crush Partners and gave the company a “buy” rating in a research note on Tuesday, December 4th. Barclays set a $13.00 target price on shares of Hi-Crush Partners and gave the company a “hold” rating in a research note on Wednesday, October 10th. Finally, Credit Suisse Group cut shares of Hi-Crush Partners from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $14.00 to $11.00 in a research note on Wednesday, October 3rd. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $11.73.

Shares of HCLP stock opened at $4.63 on Thursday. The company has a market cap of $456.94 million, a P/E ratio of 2.12 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. Hi-Crush Partners LP has a 12 month low of $4.40 and a 12 month high of $16.65.

Hi-Crush Partners (NYSE:HCLP) last announced its quarterly earnings results on Tuesday, October 30th. The basic materials company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.05. The company had revenue of $213.97 million for the quarter, compared to analysts’ expectations of $212.11 million. Hi-Crush Partners had a net margin of 21.37% and a return on equity of 24.52%. Hi-Crush Partners’s revenue was up 27.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.32 EPS. As a group, research analysts forecast that Hi-Crush Partners LP will post 1.55 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Thursday, November 1st were paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 19.44%. The ex-dividend date was Wednesday, October 31st. Hi-Crush Partners’s payout ratio is currently 89.11%.

In related news, insider William E. Barker sold 9,444 shares of the company’s stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $12.40, for a total transaction of $117,105.60. Following the sale, the insider now directly owns 17,968 shares in the company, valued at approximately $222,803.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 34.80% of the company’s stock.

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Hi-Crush Partners Profile

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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Institutional Ownership by Quarter for Hi-Crush Partners (NYSE:HCLP)

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