Truist Financial Forecasts Strong Price Appreciation for HighPeak Energy (NASDAQ:HPK) Stock

HighPeak Energy (NASDAQ:HPK - Get Free Report) had its price target upped by equities researchers at Truist Financial from $14.00 to $15.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Truist Financial's target price suggests a potential upside of 3.09% from the company's current price.

HighPeak Energy Stock Performance

NASDAQ:HPK traded up $0.11 during mid-day trading on Monday, hitting $14.55. The stock had a trading volume of 297,334 shares, compared to its average volume of 287,291. HighPeak Energy has a twelve month low of $12.47 and a twelve month 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 stock has a market cap of $1.84 billion, a price-to-earnings ratio of 11.46 and a beta of 0.74. The company's 50 day simple moving average is $14.53 and its 200 day simple moving average is $14.79.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $271.60 million during the quarter, compared to the consensus estimate of $270.18 million. During the same period last year, the business posted $0.46 earnings per share. The business's revenue for the quarter was down 21.4% compared to the same quarter last year. On average, equities research analysts forecast that HighPeak Energy will post 0.77 earnings per share for the current year.

Institutional Trading of HighPeak Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp increased its position in HighPeak Energy by 135.1% during the 3rd quarter. State Street Corp now owns 707,425 shares of the company's stock worth $9,819,000 after purchasing an additional 406,536 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of HighPeak Energy by 17.3% during the third quarter. Geode Capital Management LLC now owns 563,822 shares of the company's stock worth $7,827,000 after purchasing an additional 82,988 shares during the last quarter. American Century Companies Inc. increased its stake in shares of HighPeak Energy by 26.8% in the second quarter. American Century Companies Inc. now owns 520,698 shares of the company's stock valued at $7,321,000 after buying an additional 110,099 shares during the period. Sanders Morris Harris LLC bought a new position in shares of HighPeak Energy during the third quarter valued at $4,506,000. Finally, Denali Advisors LLC lifted its holdings in shares of HighPeak Energy by 80.2% during the second 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 period. 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.