HighPeak Energy (NASDAQ:HPK) PT Raised to $14.00 at Truist Financial

HighPeak Energy (NASDAQ:HPK) had its price target increased by investment analysts at Truist Financial from $13.00 to $14.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price target indicates a potential downside of 14.11% from the company’s previous close.

HighPeak Energy Price Performance

HPK stock opened at $16.30 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 0.65. The company’s fifty day simple moving average is $14.88 and its 200 day simple moving average is $14.92. HighPeak Energy has a 12-month low of $12.20 and a 12-month high of $18.42. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 13.15 and a beta of 0.69.

HighPeak Energy (NASDAQ:HPK) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). The company had revenue of $287.80 million during the quarter, compared to the consensus estimate of $284.38 million. HighPeak Energy had a net margin of 14.64% and a return on equity of 16.58%. The business’s revenue was up 28.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 EPS. On average, analysts expect that HighPeak Energy will post 1.39 earnings per share for the current year.

Institutional Investors Weigh In On HighPeak Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of HighPeak Energy by 850.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,297,335 shares of the company’s stock valued at $38,779,000 after acquiring an additional 2,055,576 shares during the period. Wasatch Advisors LP grew its holdings in HighPeak Energy by 15.6% during the first quarter. Wasatch Advisors LP now owns 521,150 shares of the company’s stock valued at $8,219,000 after purchasing an additional 70,385 shares during the period. Intrinsic Edge Capital Management LLC purchased a new stake in HighPeak Energy in the fourth quarter worth $3,636,000. Empowered Funds LLC raised its stake in shares of HighPeak Energy by 49.6% in the first quarter. Empowered Funds LLC now owns 153,164 shares of the company’s stock valued at $2,415,000 after buying an additional 50,812 shares during the period. Finally, GSA Capital Partners LLP lifted its position in shares of HighPeak Energy by 29.7% during the 1st quarter. GSA Capital Partners LLP now owns 127,460 shares of the company’s stock valued at $2,010,000 after buying an additional 29,177 shares during the last quarter. Hedge funds and other institutional investors own 24.13% of the company’s stock.

HighPeak Energy Company Profile

HighPeak Energy, Inc, an independent oil and natural gas company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids reserves in the Permian Basin in West Texas and Eastern New Mexico. The company was incorporated in 2019 and is headquartered in Fort Worth, Texas.