HighPeak Energy (NASDAQ:HPK – Get Free Report) was upgraded by Truist Financial from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. The firm presently has a $13.00 price objective on the stock, up from their previous price objective of $10.00. Truist Financial’s target price suggests a potential downside of 11.56% from the stock’s previous close.
HighPeak Energy Stock Performance
NASDAQ HPK traded down $0.09 during trading hours on Thursday, hitting $14.70. 306,774 shares of the company’s stock traded hands, compared to its average volume of 337,023. HighPeak Energy has a 52 week low of $10.44 and a 52 week high of $18.42. The firm has a market capitalization of $1.88 billion, a P/E ratio of 11.85 and a beta of 0.67. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.65. The business’s fifty day moving average price is $15.17 and its two-hundred day moving average price is $14.98.
HighPeak Energy (NASDAQ:HPK – Get Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). HighPeak Energy had a net margin of 14.64% and a return on equity of 16.58%. The company had revenue of $287.80 million for the quarter, compared to the consensus estimate of $284.38 million. During the same period in the prior year, the firm posted $0.39 EPS. The business’s revenue for the quarter was up 28.6% on a year-over-year basis. Equities research analysts predict that HighPeak Energy will post 1.73 EPS for the current year.
Hedge Funds 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. Susquehanna Fundamental Investments LLC acquired a new position in HighPeak Energy during the first quarter valued at $287,000. Empowered Funds LLC raised its position in HighPeak Energy by 49.6% during the first quarter. Empowered Funds LLC now owns 153,164 shares of the company’s stock worth $2,415,000 after acquiring an additional 50,812 shares during the period. GSA Capital Partners LLP lifted its holdings in HighPeak Energy by 29.7% during the first quarter. GSA Capital Partners LLP now owns 127,460 shares of the company’s stock valued at $2,010,000 after purchasing an additional 29,177 shares in the last quarter. Wasatch Advisors LP grew its position in shares of HighPeak Energy by 15.6% in the first 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 period. Finally, Register Financial Advisors LLC increased its stake in shares of HighPeak Energy by 16.2% during the first quarter. Register Financial Advisors LLC now owns 43,000 shares of the company’s stock worth $678,000 after purchasing an additional 6,000 shares in the last quarter. 24.13% of the stock is owned by institutional investors.
HighPeak Energy Company Profile
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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