Roth Capital Raises HighPeak Energy (NASDAQ:HPK) Price Target to $38.75

HighPeak Energy (NASDAQ:HPKGet Rating) had its price objective hoisted by Roth Capital from $32.50 to $38.75 in a research report issued to clients and investors on Thursday, The Fly reports. Roth Capital’s price objective would suggest a potential upside of 23.76% from the company’s current price.

Separately, Zacks Investment Research raised HighPeak Energy from a “sell” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Monday, January 24th.

Shares of HighPeak Energy stock opened at $31.31 on Thursday. The stock has a 50-day moving average price of $23.87 and a 200 day moving average price of $18.43. The company has a market cap of $3.03 billion, a P/E ratio of 57.98 and a beta of 0.78. The company has a current ratio of 0.84, a quick ratio of 0.81 and a debt-to-equity ratio of 0.18. HighPeak Energy has a 1 year low of $7.60 and a 1 year high of $38.21.

HighPeak Energy (NASDAQ:HPKGet Rating) last issued its earnings results on Monday, March 7th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.04). HighPeak Energy had a return on equity of 13.29% and a net margin of 25.24%. During the same period last year, the business earned ($0.05) earnings per share. On average, equities analysts forecast that HighPeak Energy will post 4.22 earnings per share for the current fiscal year.

In other news, Director Michael H. Gustin sold 8,000 shares of the stock in a transaction dated Friday, March 11th. The stock was sold at an average price of $22.66, for a total transaction of $181,280.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 89.56% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp acquired a new position in shares of HighPeak Energy during the 4th quarter valued at about $7,837,000. 1492 Capital Management LLC bought a new stake in HighPeak Energy during the 4th quarter valued at approximately $4,443,000. BlackRock Inc. boosted its stake in HighPeak Energy by 14.5% during the 4th quarter. BlackRock Inc. now owns 253,273 shares of the company’s stock valued at $3,708,000 after purchasing an additional 32,065 shares during the period. Invesco Ltd. bought a new stake in HighPeak Energy during the 4th quarter valued at approximately $1,727,000. Finally, Union Square Park Capital Management LLC bought a new stake in HighPeak Energy during the 4th quarter valued at approximately $1,464,000. 6.98% of the stock is currently owned by institutional investors and hedge funds.

HighPeak Energy Company Profile (Get Rating)

HighPeak Energy, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids reserves in the Midland Basin in West Texas. As of December 31, 2021, the company had approximately 64,213 MBoe of proved reserves.

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