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

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

HighPeak Energy Trading Down 1.3 %

Shares of HPK stock opened at $13.98 on Tuesday. The stock’s fifty day simple moving average is $14.28 and its 200 day simple moving average is $14.74. HighPeak Energy has a twelve month low of $12.20 and a twelve month high of $17.48. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $1.79 billion, a P/E ratio of 11.01 and a beta of 0.69.

HighPeak Energy (NASDAQ:HPK) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $270.18 million. During the same period in the prior year, the firm posted $0.46 EPS. The company’s quarterly revenue was down 21.4% on a year-over-year basis. As a group, sell-side analysts predict that HighPeak Energy will post 0.65 EPS for the current fiscal year.

HighPeak Energy Dividend Announcement

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

Insider Activity

In other news, CEO Jack Hightower purchased 100,000 shares of the business’s stock in a transaction on Friday, September 20th. The stock was purchased at an average cost of $15.54 per share, with a total value of $1,554,000.00. Following the acquisition, the chief executive officer now directly owns 4,959,255 shares in the company, valued at approximately $77,066,822.70. This trade represents a 2.06 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 203,821 shares of company stock valued at $3,154,206 in the last three months. Company insiders own 77.50% of the company’s stock.

Institutional Trading of HighPeak Energy

Several hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC bought a new stake in HighPeak Energy during the first quarter worth about $44,000. Blue Trust Inc. bought a new stake in HighPeak Energy during the second quarter valued at approximately $40,000. Innealta Capital LLC purchased a new stake in shares of HighPeak Energy in the 2nd quarter worth $86,000. SG Americas Securities LLC bought a new position in shares of HighPeak Energy in the third quarter worth about $107,000. Finally, Solstein Capital LLC boosted its position in shares of HighPeak Energy by 33.3% in the second quarter. Solstein Capital LLC now owns 8,000 shares of the company’s stock worth $112,000 after purchasing an additional 2,000 shares during the period. 24.13% of the stock is 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.