HighPeak Energy (NASDAQ:HPK) Price Target Increased to $14.00 by Analysts at Truist Financial

HighPeak Energy (NASDAQ:HPK) had its price target hoisted 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

NASDAQ HPK opened at $17.00 on Monday. HighPeak Energy has a fifty-two week low of $12.20 and a fifty-two week high of $18.42. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 13.71 and a beta of 0.69. The business has a fifty day moving average of $14.97 and a 200-day moving average of $14.94. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 0.65.

HighPeak Energy (NASDAQ:HPK) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). HighPeak Energy had a return on equity of 16.58% and a net margin of 14.64%. The company had revenue of $287.80 million during the quarter, compared to analyst estimates of $284.38 million. During the same period last year, the firm earned $0.39 earnings per share. The business’s revenue was up 28.6% compared to the same quarter last year. As a group, analysts predict that HighPeak Energy will post 1.52 earnings per share for the current fiscal year.

HighPeak Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Monday, June 3rd were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date was Monday, June 3rd. HighPeak Energy’s dividend payout ratio is currently 12.90%.

Institutional Investors Weigh In On HighPeak Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of HighPeak Energy by 850.3% in the third quarter. Vanguard Group Inc. now owns 2,297,335 shares of the company’s stock valued at $38,779,000 after purchasing an additional 2,055,576 shares during the period. Wasatch Advisors LP grew its position in shares of HighPeak Energy by 15.6% in the first quarter. Wasatch Advisors LP now owns 521,150 shares of the company’s stock valued at $8,219,000 after purchasing an additional 70,385 shares during the period. Intrinsic Edge Capital Management LLC purchased a new stake in shares of HighPeak Energy in the fourth quarter valued at $3,636,000. Empowered Funds LLC grew its position in shares of 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 purchasing an additional 50,812 shares during the period. Finally, GSA Capital Partners LLP grew its position in shares of 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 purchasing an additional 29,177 shares during the period. Hedge funds and other institutional investors own 24.13% of the company’s stock.

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.