HighPeak Energy (NASDAQ:HPK) Given New $15.00 Price Target at Truist Financial

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

HighPeak Energy Price Performance

NASDAQ:HPK opened at $14.55 on Monday. HighPeak Energy has a one year low of $12.47 and a one year high of $17.48. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.93 and a current ratio of 0.96. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 11.46 and a beta of 0.74. The firm’s fifty day moving average is $14.53 and its two-hundred day moving average is $14.79.

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. HighPeak Energy had a net margin of 15.94% and a return on equity of 14.83%. The business had revenue of $271.60 million for the quarter, compared to analyst estimates of $270.18 million. During the same period in the prior year, the company posted $0.46 EPS. The company’s revenue for the quarter was down 21.4% on a year-over-year basis. Research analysts expect that HighPeak Energy will post 0.77 EPS for the current year.

HighPeak Energy Announces Dividend

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

Institutional Investors Weigh In On HighPeak Energy

A number of hedge funds have recently modified their holdings of HPK. Barclays PLC lifted its stake in HighPeak Energy by 346.6% during the third quarter. Barclays PLC now owns 24,911 shares of the company’s stock worth $346,000 after purchasing an additional 19,333 shares in the last quarter. Geode Capital Management LLC grew its position in shares of HighPeak Energy by 17.3% in the 3rd quarter. Geode Capital Management LLC now owns 563,822 shares of the company’s stock valued at $7,827,000 after buying an additional 82,988 shares during the last quarter. State Street Corp lifted its holdings in shares of HighPeak Energy by 135.1% in the 3rd quarter. State Street Corp now owns 707,425 shares of the company’s stock valued at $9,819,000 after purchasing an additional 406,536 shares during the last quarter. FMR LLC grew its position in shares of HighPeak Energy by 766.6% during the third quarter. FMR LLC now owns 8,016 shares of the company’s stock worth $111,000 after acquiring an additional 7,091 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of HighPeak Energy by 24.2% in the third 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 last quarter. Hedge funds and other 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.