HighPeak Energy (NASDAQ:HPK) Price Target Raised to $14.00

HighPeak Energy (NASDAQ:HPK) had its target price raised by Truist Financial from $12.00 to $14.00 in a research note released on Tuesday,Benzinga reports. They currently have a hold rating on the stock.

HighPeak Energy Trading Up 0.1 %

Shares of NASDAQ HPK traded up $0.02 during trading hours on Tuesday, reaching $14.19. The stock had a trading volume of 61,050 shares, compared to its average volume of 327,252. 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 firm has a market cap of $1.81 billion, a price-to-earnings ratio of 11.16 and a beta of 0.69. The business’s fifty day moving average price is $14.27 and its two-hundred day moving average price is $14.75. HighPeak Energy has a 52-week low of $12.20 and a 52-week high of $17.48.

HighPeak Energy (NASDAQ:HPK) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate 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 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 earnings per share. Analysts expect that HighPeak Energy will post 0.65 EPS for the current fiscal year.

HighPeak Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Monday, December 2nd. HighPeak Energy’s payout ratio is presently 12.60%.

Insider Transactions at HighPeak Energy

In related news, CEO Jack Hightower acquired 50,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were purchased at an average cost of $15.50 per share, with a total value of $775,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,722,863 shares of the company’s stock, valued at $73,204,376.50. This represents a 1.07 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have acquired 203,821 shares of company stock valued at $3,154,206. Corporate insiders own 77.50% of the company’s stock.

Institutional Investors Weigh In On HighPeak Energy

Several hedge funds have recently added to or reduced their stakes in the business. Denali Advisors LLC raised its position in shares of HighPeak Energy by 80.2% during the 2nd quarter. Denali Advisors LLC now owns 319,800 shares of the company’s stock worth $4,496,000 after purchasing an additional 142,300 shares during the last quarter. American Century Companies Inc. raised its position in shares of HighPeak Energy by 26.8% during the 2nd quarter. American Century Companies Inc. now owns 520,698 shares of the company’s stock worth $7,321,000 after purchasing an additional 110,099 shares during the last quarter. Interval Partners LP acquired a new position in shares of HighPeak Energy during the 2nd quarter worth about $1,684,000. Sanders Morris Harris LLC acquired a new position in shares of HighPeak Energy during the 3rd quarter worth about $4,506,000. Finally, EverSource Wealth Advisors LLC acquired a new position in shares of HighPeak Energy during the 1st quarter worth about $44,000. 24.13% of the stock is owned by hedge funds and other 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.