Truist Financial Forecasts Strong Price Appreciation for HighPeak Energy (NASDAQ:HPK) Stock

HighPeak Energy (NASDAQ:HPK) had its target price boosted by Truist Financial from $12.00 to $14.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price objective would suggest a potential downside of 1.41% from the stock’s previous close.

HighPeak Energy Stock Performance

NASDAQ HPK opened at $14.20 on Tuesday. HighPeak Energy has a 1 year low of $12.20 and a 1 year high of $17.48. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.96 and a quick ratio of 0.93. The company has a fifty day moving average price of $14.27 and a 200-day moving average price of $14.76. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 11.10 and a beta of 0.69.

HighPeak Energy (NASDAQ:HPK) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.12. The company had revenue of $271.60 million for the quarter, compared to analysts’ expectations 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 was down 21.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.46 EPS. As a group, equities research analysts predict that HighPeak Energy will post 0.65 EPS for the current fiscal year.

Insider Buying and Selling at HighPeak Energy

In related news, CEO Jack Hightower acquired 17,743 shares of HighPeak Energy stock in a transaction dated Thursday, August 29th. The shares were purchased at an average cost of $15.50 per share, with a total value of $275,016.50. Following the completion of the purchase, the chief executive officer now owns 4,805,350 shares of the company’s stock, valued at $74,482,925. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought 203,821 shares of company stock worth $3,154,206 over the last 90 days. Corporate insiders own 77.50% of the company’s stock.

Institutional Trading of HighPeak Energy

Several institutional investors and hedge funds have recently bought and sold shares of HPK. FMR LLC increased its holdings in shares of HighPeak Energy by 766.6% during the third quarter. FMR LLC now owns 8,016 shares of the company’s stock valued at $111,000 after acquiring an additional 7,091 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of HighPeak Energy by 24.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 182,274 shares of the company’s stock valued at $2,530,000 after buying an additional 35,483 shares during the period. Empowered Funds LLC boosted its position in HighPeak Energy by 5.4% in the third 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 last quarter. Blue Trust Inc. grew its position in 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 period. Finally, Sanders Morris Harris LLC bought a new stake in shares of HighPeak Energy during the 3rd quarter valued at $4,506,000. 24.13% of the stock is currently owned by hedge funds and other 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.