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Hi-Crush Partners LP (HCLP) produces and supplies monocrystalline sand in the United States.
The monocrystalline sand is a mineral that is used as a proppant to enhance the recovery rates of hydrocarbons from oil and natural gas wells.
It owns, operates, and develops sand reserves and related excavation and processing facilities, which include a 857-acre facility with integrated rail infrastructure, located in Wyeville, Wisconsin; and the Augusta facility situated in Eau Claire County, Wisconsin. Its reserves consist of northern white sand, a resource in Wisconsin and limited portions of the upper Midwest region of the United States.
The company offers raw frac sand used in hydraulic fracturing operations for oil and natural gas wells. It primarily serves pressure pumping service providers. Hi-Crush GP LLC operates as the general partner of the company.
Shares have formed a bullish "cup and handle" and higher share prices are expected for this stock. Note that we expect shares to see a pullback this morning. Use the weakness to establish a position.
52-Weeks Trading Rannge: $3.55 to $18.90
Entry Point: $17.70
Stop Loss: $16.80
Target Price: $19.50
HCLP closed at $15.50
