Truist Financial Raises HighPeak Energy (NASDAQ:HPK) Price Target to $14.00

HighPeak Energy (NASDAQ:HPK) had its price target lifted by Truist Financial from $13.00 to $14.00 in a report published on Monday morning, Benzinga reports. They currently have a hold rating on the stock.

HighPeak Energy Stock Performance

Shares of NASDAQ HPK opened at $16.21 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 business’s 50 day moving average is $14.92 and its two-hundred day moving average is $14.93. The company has a market cap of $2.07 billion, a P/E ratio of 13.07 and a beta of 0.69. HighPeak Energy has a 12 month low of $12.20 and a 12 month high of $18.42.

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

HighPeak Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Monday, June 3rd were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Monday, June 3rd. HighPeak Energy’s dividend payout ratio is presently 12.90%.

Institutional Trading of HighPeak Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. bought a new stake in shares of HighPeak Energy during the second quarter valued at approximately $40,000. EverSource Wealth Advisors LLC bought a new stake in HighPeak Energy in the first quarter valued at $44,000. Susquehanna Fundamental Investments LLC bought a new stake in HighPeak Energy in the first quarter valued at $287,000. Empowered Funds LLC grew its position in 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 acquiring an additional 50,812 shares during the period. Finally, GSA Capital Partners LLP grew its position in HighPeak Energy by 29.7% in the first quarter. GSA Capital Partners LLP now owns 127,460 shares of the company’s stock valued at $2,010,000 after acquiring an additional 29,177 shares during the period. 24.13% of the stock is currently owned by institutional investors.

About HighPeak Energy

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.