HighPeak Energy (NASDAQ:HPK) Price Target Raised to $14.00

HighPeak Energy (NASDAQ:HPK) had its price objective hoisted by research analysts at Truist Financial from $12.00 to $14.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective suggests a potential downside of 1.41% from the stock’s previous close.

HighPeak Energy Trading Up 0.9 %

HPK stock opened at $14.20 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.96 and a quick ratio of 0.93. HighPeak Energy has a 1-year low of $12.20 and a 1-year high of $17.48. The business has a 50 day simple moving average of $14.27 and a two-hundred day simple moving average of $14.76. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 11.10 and a beta of 0.69.

HighPeak Energy (NASDAQ:HPK) last issued its earnings results on Monday, November 4th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.12. The firm had revenue of $271.60 million during the quarter, compared to analyst estimates of $270.18 million. HighPeak Energy had a net margin of 15.94% and a return on equity of 14.83%. HighPeak Energy’s revenue for the quarter was down 21.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 earnings per share. Research analysts anticipate that HighPeak Energy will post 0.65 EPS for the current fiscal year.

Insider Activity at HighPeak Energy

In other news, CEO Jack Hightower acquired 50,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were acquired at an average cost of $15.50 per share, with a total value of $775,000.00. Following the acquisition, the chief executive officer now directly owns 4,722,863 shares of the company’s stock, valued at approximately $73,204,376.50. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders bought 203,821 shares of company stock valued at $3,154,206. Insiders own 77.50% of the company’s stock.

Institutional Trading of HighPeak Energy

A number of large investors have recently made changes to their positions in the business. FMR LLC lifted 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 valued at $111,000 after purchasing an additional 7,091 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in HighPeak Energy by 24.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 182,274 shares of the company’s stock worth $2,530,000 after buying an additional 35,483 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of HighPeak Energy by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 173,888 shares of the company’s stock worth $2,414,000 after purchasing an additional 8,844 shares during the period. Blue Trust Inc. grew its stake in shares of HighPeak Energy by 101.1% during the third quarter. Blue Trust Inc. now owns 5,678 shares of the company’s stock valued at $80,000 after buying an additional 2,854 shares during the last quarter. Finally, Sanders Morris Harris LLC purchased a new position in HighPeak Energy during the 3rd quarter valued at $4,506,000. 24.13% of the stock is currently owned by 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.