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Why HighPoint Resources Stock Is Trading Lower Today

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Why HighPoint Resources Stock Is Trading Lower Today

HighPoint Resources (NYSE: HPR) shares are trading lower on Monday after the company announced it would merge with Bonanza Creek Energy in an all-stock transaction.

HighPoint Resources is an oil and gas exploration and production company. Its operations include the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids. The company focuses its operations in the Rocky Mountain region of the U.S., where most of its production comes from the Denver-Julesburg Basin in Colorado and the Uinta Basin in Utah.HighPoint Resources Corp sells its crude oil and natural gas to pipelines, gas processors, oil refineries, and marketing companies. The company generates a majority of its revenue from Oil, gas and NGL production.

HighPoint Resources shares were trading down 35.10% at $3.55 on Monday. The stock has a 52-week high of $99 and a 52-week low of $3.29.

 

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