Truist Financial Issues Positive Forecast for HighPeak Energy (NASDAQ:HPK) Stock Price

HighPeak Energy (NASDAQ:HPK) had its price objective increased by Truist Financial from $14.00 to $15.00 in a research report sent to investors on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

HighPeak Energy Trading Up 0.8 %

NASDAQ HPK opened at $14.55 on Monday. 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’s fifty day simple moving average is $14.53 and its 200-day simple moving average is $14.79. The stock has a market cap of $1.84 billion, a P/E ratio of 11.46 and a beta of 0.74. HighPeak Energy has a 52 week low of $12.47 and a 52 week high of $17.48.

HighPeak Energy (NASDAQ:HPK) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.23 by $0.12. The business 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%. The company’s quarterly revenue was down 21.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 earnings per share. Equities research analysts predict that HighPeak Energy will post 0.77 EPS for the current fiscal year.

HighPeak Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Monday, December 2nd were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Monday, December 2nd. HighPeak Energy’s payout ratio is 12.60%.

Institutional Investors Weigh In On HighPeak Energy

Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. grew its stake in shares of HighPeak Energy by 101.1% in the 3rd quarter. Blue Trust Inc. now owns 5,678 shares of the company’s stock worth $80,000 after purchasing an additional 2,854 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of HighPeak Energy during the 3rd quarter valued at $107,000. FMR LLC raised its stake in shares of HighPeak Energy by 766.6% during the 3rd quarter. FMR LLC now owns 8,016 shares of the company’s stock worth $111,000 after purchasing an additional 7,091 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of HighPeak Energy during the 2nd quarter worth $192,000. Finally, Rhumbline Advisers boosted its stake in shares of HighPeak Energy by 42.9% during the 2nd quarter. Rhumbline Advisers now owns 21,672 shares of the company’s stock worth $305,000 after acquiring an additional 6,501 shares in the last quarter. 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.