Truist Financial Issues Positive Forecast for HighPeak Energy (NASDAQ:HPK) Stock Price

HighPeak Energy (NASDAQ:HPK) had its price objective raised by Truist Financial from $12.00 to $14.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a hold rating on the stock.

HighPeak Energy Price Performance

NASDAQ HPK opened at $13.98 on Tuesday. The stock’s 50-day moving average price is $14.28 and its two-hundred day moving average price is $14.74. The company has a market cap of $1.79 billion, a PE ratio of 11.01 and a beta of 0.69. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 0.59. HighPeak Energy has a 1 year low of $12.20 and a 1 year high of $17.48.

HighPeak Energy (NASDAQ:HPK) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.12. The business had revenue of $271.60 million during the quarter, compared to analyst estimates of $270.18 million. HighPeak Energy had a return on equity of 14.83% and a net margin of 15.94%. HighPeak Energy’s quarterly revenue was down 21.4% compared to the same quarter last year. During the same period last year, the company earned $0.46 earnings per share. On average, analysts predict that HighPeak Energy will post 0.65 EPS for the current year.

HighPeak Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 2nd will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.16 annualized dividend and a yield of 1.14%. HighPeak Energy’s payout ratio is 12.60%.

Insider Transactions at HighPeak Energy

In related news, CEO Jack Hightower acquired 17,743 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was bought at an average cost of $15.50 per share, with a total value of $275,016.50. Following the completion of the acquisition, the chief executive officer now owns 4,805,350 shares in the company, valued at $74,482,925. The trade was a 0.37 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have purchased 203,821 shares of company stock worth $3,154,206. 77.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On HighPeak Energy

Large investors have recently modified their holdings of the stock. State Street Corp raised its position in shares of HighPeak Energy by 135.1% during the third quarter. State Street Corp now owns 707,425 shares of the company’s stock worth $9,819,000 after purchasing an additional 406,536 shares during the period. Sanders Morris Harris LLC acquired a new position in shares of HighPeak Energy during the 3rd quarter worth about $4,506,000. Denali Advisors LLC raised its stake in HighPeak Energy by 80.2% in the second quarter. Denali Advisors LLC now owns 319,800 shares of the company’s stock valued at $4,496,000 after buying an additional 142,300 shares during the period. Interval Partners LP acquired a new stake in HighPeak Energy during the 2nd quarter valued at $1,684,000. Finally, American Century Companies Inc. lifted its stake in shares of HighPeak Energy by 26.8% during the 2nd quarter. American Century Companies Inc. now owns 520,698 shares of the company’s stock worth $7,321,000 after buying an additional 110,099 shares during the last quarter. 24.13% of the stock is currently owned by institutional investors and hedge funds.

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.