Texas Capital Bank Wealth Management Services Inc Makes New $5.43 Million Investment in HighPeak Energy, Inc. $HPK

Key Points

• Texas Capital Bank Wealth Management Services purchased 776,190 HighPeak Energy shares worth approximately $5.43 million, representing about 0.61% of the company.
• HighPeak reported quarterly EPS of $0.59, well above the $0.02 analyst consensus, while revenue rose 25.8% year over year to $272.42 million.
• HPK shares opened at $7.88 after gaining 6.1%; analysts’ consensus rating remains Hold, with an average price target of $12.00.

Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of HighPeak Energy, Inc. (NASDAQ:HPK - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 776,190 shares of the company's stock, valued at approximately $5,426,000. Texas Capital Bank Wealth Management Services Inc owned approximately 0.61% of HighPeak Energy as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd bought a new stake in shares of HighPeak Energy in the fourth quarter worth $29,000. Stokes Family Office LLC acquired a new position in shares of HighPeak Energy during the 4th quarter worth about $48,000. Raymond James Financial Inc. bought a new position in shares of HighPeak Energy in the 2nd quarter valued at about $49,000. State of Alaska Department of Revenue increased its position in shares of HighPeak Energy by 135.5% in the fourth quarter. State of Alaska Department of Revenue now owns 10,624 shares of the company's stock valued at $50,000 after acquiring an additional 6,112 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in HighPeak Energy during the fourth quarter worth about $51,000. 24.13% of the stock is currently owned by institutional investors and hedge funds.

HighPeak Energy Stock Up 6.1%

Shares of HPK opened at $7.88 on Tuesday. The firm has a 50 day simple moving average of $7.24 and a two-hundred day simple moving average of $6.56. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.87 and a quick ratio of 0.85. HighPeak Energy, Inc. has a one year low of $3.85 and a one year high of $9.13. The company has a market cap of $996.43 million, a P/E ratio of -9.97 and a beta of 0.35.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.57. HighPeak Energy had a negative return on equity of 1.44% and a negative net margin of 10.52%.The firm had revenue of $272.42 million for the quarter, compared to the consensus estimate of $240.03 million. During the same quarter last year, the business posted $0.10 EPS. The company's revenue was up 25.8% compared to the same quarter last year. Research analysts forecast that HighPeak Energy, Inc. will post -0.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Zacks Research upgraded HighPeak Energy from a "strong sell" rating to a "hold" rating in a research note on Monday, May 25th. Weiss Ratings restated a "sell (d)" rating on shares of HighPeak Energy in a research report on Wednesday, June 3rd. Finally, Wall Street Zen upgraded HighPeak Energy from a "sell" rating to a "hold" rating in a research report on Sunday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $12.00.

About HighPeak Energy

HighPeak Energy, Inc NASDAQ: HPK is a Delaware‐incorporated independent oil and natural gas exploration and production company. The firm focuses on the acquisition, development and exploitation of onshore petroleum assets in the continental United States. Its operations encompass the full upstream value chain, including exploration, drilling, completion and production activities aimed at maximizing hydrocarbon recovery and operational efficiency.

The company’s primary business activities include identifying and acquiring conventional and unconventional oil and gas properties, applying advanced drilling and completion technologies, and managing midstream logistics to optimize product flow.

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