HighPeak Energy (NASDAQ:HPK) Stock Price Expected to Rise, Truist Financial Analyst Says

HighPeak Energy (NASDAQ:HPK) had its price objective boosted by research analysts at Truist Financial from $14.00 to $15.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price target points to a potential upside of 2.88% from the stock’s previous close.

HighPeak Energy Trading Up 0.2 %

NASDAQ:HPK opened at $14.58 on Monday. The company has a market cap of $1.85 billion, a PE ratio of 11.48 and a beta of 0.74. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 0.59. The company has a 50 day simple moving average of $14.53 and a two-hundred day simple moving average of $14.80. HighPeak Energy has a 12 month low of $12.47 and a 12 month high of $17.48.

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

Institutional Investors Weigh In On HighPeak Energy

A number of institutional investors and hedge funds have recently bought and sold shares of HPK. State Street Corp increased its holdings in HighPeak Energy by 135.1% in the 3rd quarter. State Street Corp now owns 707,425 shares of the company’s stock valued at $9,819,000 after acquiring an additional 406,536 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of HighPeak Energy by 17.3% in the third quarter. Geode Capital Management LLC now owns 563,822 shares of the company’s stock worth $7,827,000 after purchasing an additional 82,988 shares during the last quarter. American Century Companies Inc. lifted its position in shares of HighPeak Energy by 26.8% in the second quarter. American Century Companies Inc. now owns 520,698 shares of the company’s stock worth $7,321,000 after buying an additional 110,099 shares in the last quarter. Sanders Morris Harris LLC bought a new position in HighPeak Energy during the third quarter valued at approximately $4,506,000. Finally, Denali Advisors LLC grew its holdings in HighPeak Energy by 80.2% during the 2nd quarter. Denali Advisors LLC now owns 319,800 shares of the company’s stock valued at $4,496,000 after buying an additional 142,300 shares in the last quarter. 24.13% of the stock is owned by institutional investors.

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.