HighPeak Energy (NASDAQ:HPK) Given New $14.00 Price Target at Truist Financial

HighPeak Energy (NASDAQ:HPK) had its price objective boosted by equities researchers at 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 target would indicate a potential downside of 0.85% from the stock’s previous close.

HighPeak Energy Stock Up 1.0 %

HPK stock traded up $0.14 during midday trading on Tuesday, hitting $14.12. 87,293 shares of the company’s stock were exchanged, compared to its average volume of 328,056. The company has a current ratio of 0.96, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59. HighPeak Energy has a 12-month low of $12.20 and a 12-month high of $17.48. The firm has a 50 day moving average price of $14.30 and a 200-day moving average price of $14.76. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 11.13 and a beta of 0.69.

HighPeak Energy (NASDAQ:HPK) last released its quarterly earnings data on Monday, November 4th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.12. The business had revenue of $271.60 million during the quarter, compared to analyst estimates of $270.18 million. HighPeak Energy had a return on equity of 14.83% and a net margin of 15.94%. The business’s revenue for the quarter was down 21.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 EPS. On average, analysts anticipate that HighPeak Energy will post 0.65 EPS for the current year.

Insider Buying and Selling at HighPeak Energy

In related news, CEO Jack Hightower purchased 36,078 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $15.25 per share, for a total transaction of $550,189.50. Following the purchase, the chief executive officer now owns 4,859,255 shares in the company, valued at $74,103,638.75. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have bought 203,821 shares of company stock worth $3,154,206 over the last 90 days. 77.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On HighPeak Energy

Several large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC bought a new position in HighPeak Energy in the 1st quarter valued at $44,000. Blue Trust Inc. bought a new stake in shares of HighPeak Energy in the second quarter valued at about $40,000. Innealta Capital LLC bought a new stake in HighPeak Energy during the second quarter worth about $86,000. SG Americas Securities LLC acquired a new position in HighPeak Energy during the third quarter worth approximately $107,000. Finally, Solstein Capital LLC increased its position in HighPeak Energy by 33.3% during the second quarter. Solstein Capital LLC now owns 8,000 shares of the company’s stock worth $112,000 after buying an additional 2,000 shares during the last quarter. Institutional investors and hedge funds 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.