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

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

HighPeak Energy Trading Up 0.1 %

Shares of NASDAQ HPK traded up $0.02 during midday trading on Tuesday, reaching $14.19. 61,050 shares of the stock were exchanged, compared to its average volume of 327,252. The company has a 50 day simple moving average of $14.27 and a 200 day simple moving average of $14.75. The stock has a market capitalization of $1.81 billion, a P/E ratio of 11.16 and a beta of 0.69. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.93 and a current ratio of 0.96. HighPeak Energy has a twelve month low of $12.20 and a twelve month high of $17.48.

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

HighPeak Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 2nd will be given a dividend of $0.04 per share. 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 1.13%. HighPeak Energy’s payout ratio is currently 12.60%.

Insider Buying and Selling

In other HighPeak Energy news, CEO Jack Hightower purchased 17,743 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was bought at an average price of $15.50 per share, with a total value of $275,016.50. Following the transaction, the chief executive officer now directly owns 4,805,350 shares of the company’s stock, valued at approximately $74,482,925. This represents a 0.37 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders purchased 203,821 shares of company stock valued at $3,154,206. Company insiders own 77.50% of the company’s stock.

Institutional Investors Weigh In On HighPeak Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. American Century Companies Inc. raised its stake in 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 acquiring an additional 110,099 shares in the last quarter. Sanders Morris Harris LLC acquired a new position in HighPeak Energy in the third quarter valued at $4,506,000. Denali Advisors LLC increased 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 purchasing an additional 142,300 shares during the period. Charles Schwab Investment Management Inc. increased its stake 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 valued at $2,530,000 after purchasing an additional 35,483 shares during the period. Finally, Empowered Funds LLC increased its stake in HighPeak Energy by 5.4% in the third quarter. Empowered Funds LLC now owns 173,888 shares of the company’s stock valued at $2,414,000 after purchasing an additional 8,844 shares during the period. 24.13% of the stock is currently 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.