HighPeak Energy (NASDAQ:HPK) Coverage Initiated by Analysts at Bank of America

Research analysts at Bank of America started coverage on shares of HighPeak Energy (NASDAQ:HPK - Get Free Report) in a research report issued to clients and investors on Monday, MarketBeat.com reports. The firm set an "underperform" rating and a $10.00 price target on the stock. Bank of America's target price suggests a potential upside of 14.94% from the company's previous close.

Separately, Truist Financial lowered their price objective on shares of HighPeak Energy from $15.00 to $13.00 and set a "hold" rating for the company in a research note on Thursday, March 13th.

HighPeak Energy Stock Up 2.7 %

NASDAQ:HPK traded up $0.23 during mid-day trading on Monday, hitting $8.70. 320,731 shares of the company's stock traded hands, compared to its average volume of 301,284. The company has a fifty day moving average of $12.25 and a 200 day moving average of $13.63. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.93 and a current ratio of 0.96. HighPeak Energy has a twelve month low of $7.82 and a twelve month high of $17.48. The company has a market capitalization of $1.10 billion, a P/E ratio of 6.85 and a beta of 0.82.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last posted its quarterly earnings data on Monday, March 10th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.07). The company had revenue of $234.81 million for the quarter, compared to analyst estimates of $247.32 million. HighPeak Energy had a net margin of 15.94% and a return on equity of 14.83%. The business's revenue was down 22.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 EPS. On average, analysts forecast that HighPeak Energy will post 0.78 EPS for the current year.

Institutional Trading of HighPeak Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in HPK. Charles Schwab Investment Management Inc. boosted its holdings in HighPeak Energy by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 183,719 shares of the company's stock valued at $2,701,000 after purchasing an additional 1,445 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of HighPeak Energy by 5.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 29,829 shares of the company's stock worth $438,000 after buying an additional 1,608 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in HighPeak Energy during the fourth quarter worth about $26,000. Wells Fargo & Company MN raised its position in HighPeak Energy by 25.4% during the fourth quarter. Wells Fargo & Company MN now owns 9,180 shares of the company's stock valued at $135,000 after acquiring an additional 1,857 shares in the last quarter. Finally, Barclays PLC lifted its holdings in HighPeak Energy by 9.4% in the fourth quarter. Barclays PLC now owns 27,242 shares of the company's stock valued at $400,000 after acquiring an additional 2,331 shares during the period. Institutional investors and hedge funds own 24.13% of the company's stock.

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.