Truist Financial upgraded shares of HighPeak Energy (NASDAQ:HPK – Free Report) from a sell rating to a hold rating in a report issued on Thursday morning, MarketBeat reports. Truist Financial currently has $13.00 target price on the stock, up from their prior target price of $10.00.
HighPeak Energy Price Performance
HPK stock opened at $14.70 on Thursday. The firm has a market cap of $1.88 billion, a P/E ratio of 11.85 and a beta of 0.67. The firm’s fifty day moving average is $15.17 and its 200 day moving average is $14.98. HighPeak Energy has a 52 week low of $10.44 and a 52 week high of $18.42. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.00 and a current ratio of 1.04.
HighPeak Energy (NASDAQ:HPK – Get Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). The company had revenue of $287.80 million during the quarter, compared to analysts’ expectations of $284.38 million. HighPeak Energy had a return on equity of 16.58% and a net margin of 14.64%. The firm’s quarterly revenue was up 28.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 EPS. Research analysts predict that HighPeak Energy will post 1.73 earnings per share for the current year.
HighPeak Energy Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 3rd will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Monday, June 3rd. HighPeak Energy’s dividend payout ratio is 12.90%.
Institutional Investors Weigh In On HighPeak Energy
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of HighPeak Energy by 850.3% during the third quarter. Vanguard Group Inc. now owns 2,297,335 shares of the company’s stock valued at $38,779,000 after acquiring an additional 2,055,576 shares during the last quarter. Kennedy Capital Management LLC purchased a new position in HighPeak Energy during the 3rd quarter valued at about $10,396,000. Wasatch Advisors LP raised its position in HighPeak Energy by 15.6% during the 1st quarter. Wasatch Advisors LP now owns 521,150 shares of the company’s stock valued at $8,219,000 after purchasing an additional 70,385 shares during the last quarter. Intrinsic Edge Capital Management LLC purchased a new stake in HighPeak Energy in the 4th quarter worth approximately $3,636,000. Finally, Bank of New York Mellon Corp grew its position in shares of HighPeak Energy by 6.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 227,838 shares of the company’s stock worth $3,846,000 after buying an additional 13,175 shares during the last quarter. 24.13% of the stock is currently owned by 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.
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Source: defenseworld.net
