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

HighPeak Energy (NASDAQ:HPK) had its price target boosted by stock analysts at Truist Financial from $14.00 to $15.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective indicates a potential upside of 2.81% from the company’s previous close.

HighPeak Energy Price Performance

NASDAQ HPK traded up $0.15 on Monday, reaching $14.59. The company’s stock had a trading volume of 6,680 shares, compared to its average volume of 245,859. HighPeak Energy has a twelve month low of $12.47 and a twelve month high of $17.48. 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 firm’s 50 day moving average is $14.50 and its two-hundred day moving average is $14.79. The stock has a market cap of $1.85 billion, a PE ratio of 11.49 and a beta of 0.74.

HighPeak Energy (NASDAQ:HPK) last announced its earnings results on Monday, November 4th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.23 by $0.12. HighPeak Energy had a net margin of 15.94% and a return on equity of 14.83%. The company had revenue of $271.60 million during the quarter, compared to analysts’ expectations of $270.18 million. During the same period last year, the company posted $0.46 earnings per share. The business’s revenue for the quarter was down 21.4% on a year-over-year basis. As a group, sell-side analysts predict that HighPeak Energy will post 0.77 EPS for the current year.

Institutional Investors Weigh In On HighPeak Energy

Institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in shares of HighPeak Energy by 101.1% in the third quarter. Blue Trust Inc. now owns 5,678 shares of the company’s stock valued at $80,000 after acquiring an additional 2,854 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in HighPeak Energy by 7.2% in the second quarter. Dimensional Fund Advisors LP now owns 51,758 shares of the company’s stock worth $728,000 after purchasing an additional 3,497 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of HighPeak Energy by 42.9% during the second quarter. Rhumbline Advisers now owns 21,672 shares of the company’s stock worth $305,000 after purchasing an additional 6,501 shares during the last quarter. FMR LLC raised its holdings in shares of HighPeak Energy by 766.6% in the third quarter. FMR LLC now owns 8,016 shares of the company’s stock valued at $111,000 after buying an additional 7,091 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in HighPeak Energy during the 3rd quarter worth about $107,000. 24.13% of the stock is owned by institutional investors and hedge funds.

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.