HighPeak Energy (NASDAQ:HPK) Coverage Initiated by Analysts at Bank of America

Investment analysts at Bank of America started coverage on shares of HighPeak Energy (NASDAQ:HPK) in a note issued to investors on Monday,Briefing.com Automated Import reports. The firm set an “underperform” rating and a $10.00 price target on the stock. Bank of America‘s price target points to a potential upside of 3.20% from the stock’s previous close.

Separately, Truist Financial lowered their price target on HighPeak Energy from $15.00 to $13.00 and set a “hold” rating on the stock in a research note on Thursday, March 13th.

HighPeak Energy Stock Performance

NASDAQ:HPK opened at $9.69 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.93 and a current ratio of 0.96. The stock has a market capitalization of $1.22 billion, a PE ratio of 7.63 and a beta of 0.82. HighPeak Energy has a fifty-two week low of $9.54 and a fifty-two week high of $17.48. The company has a fifty day moving average of $12.96 and a two-hundred day moving average of $13.93.

HighPeak Energy (NASDAQ:HPK) last released its quarterly earnings results on Monday, March 10th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.07). HighPeak Energy had a return on equity of 14.83% and a net margin of 15.94%. The company had revenue of $234.81 million for the quarter, compared to analyst estimates of $247.32 million. During the same quarter last year, the company earned $0.66 EPS. The firm’s revenue for the quarter was down 22.0% on a year-over-year basis. As a group, research analysts forecast that HighPeak Energy will post 0.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HPK. BNP Paribas Financial Markets acquired a new stake in shares of HighPeak Energy in the fourth quarter valued at approximately $26,000. FMR LLC increased its stake in shares of HighPeak Energy by 766.6% in the 3rd quarter. FMR LLC now owns 8,016 shares of the company’s stock worth $111,000 after acquiring an additional 7,091 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of HighPeak Energy during the 4th quarter worth $112,000. AlphaQuest LLC boosted its position in shares of HighPeak Energy by 509.9% during the 4th quarter. AlphaQuest LLC now owns 8,045 shares of the company’s stock valued at $118,000 after acquiring an additional 6,726 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of HighPeak Energy by 25.4% in the fourth quarter. Wells Fargo & Company MN now owns 9,180 shares of the company’s stock valued at $135,000 after purchasing an additional 1,857 shares during the period. 24.13% of the stock is owned by hedge funds and other institutional investors.

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.