Truist Financial Increases HighPeak Energy (NASDAQ:HPK) Price Target to $15.00

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

HighPeak Energy Trading Up 1.8 %

Shares of HighPeak Energy stock opened at $14.84 on Monday. The company’s 50-day moving average price is $14.53 and its 200-day moving average price is $14.80. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 0.59. HighPeak Energy has a 12-month low of $12.47 and a 12-month high of $17.48. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 11.69 and a beta of 0.74.

HighPeak Energy (NASDAQ:HPK) last posted 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. 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 business’s revenue for the quarter was down 21.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 EPS. On average, equities analysts expect that HighPeak Energy will post 0.77 earnings per share for the current fiscal year.

HighPeak Energy Announces Dividend

The firm 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. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.16 dividend on an annualized basis and a yield of 1.08%. HighPeak Energy’s dividend payout ratio is currently 12.60%.

Institutional Trading of HighPeak Energy

Several institutional investors and hedge funds have recently modified their holdings of HPK. Blue Trust Inc. raised 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 purchasing an additional 2,854 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in HighPeak Energy by 7.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 51,758 shares of the company’s stock worth $728,000 after buying an additional 3,497 shares during the last quarter. Rhumbline Advisers boosted its stake in HighPeak Energy by 42.9% in the second quarter. Rhumbline Advisers now owns 21,672 shares of the company’s stock worth $305,000 after buying an additional 6,501 shares in the last quarter. FMR LLC boosted its stake in HighPeak Energy by 766.6% in the third quarter. FMR LLC now owns 8,016 shares of the company’s stock worth $111,000 after buying an additional 7,091 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of HighPeak Energy during the third quarter worth approximately $107,000. Hedge funds and other institutional investors own 24.13% of the company’s stock.

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.