HighPeak Energy (NASDAQ:HPK) Raised to Buy at Zacks Investment Research

HighPeak Energy (NASDAQ:HPKGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday, Zacks.com reports. The firm currently has a $33.00 price objective on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 2.55% from the stock’s current price.

According to Zacks, “HighPeak Energy Inc. is an oil and natural gas company. It is engaged in the acquisition, development and production of oil, natural gas and NGL reserves. The company’s assets are primarily located in Howard County, Texas. HighPeak Energy Inc., formerly known as Pure Acquisition Corp., is based in FORT WORTH, Texas. “

Separately, Roth Capital raised their price target on HighPeak Energy from $32.50 to $38.75 in a research note on Thursday, April 28th.

Shares of NASDAQ HPK traded up $2.36 during mid-day trading on Friday, hitting $32.18. The company had a trading volume of 380,020 shares, compared to its average volume of 351,223. The company has a market capitalization of $3.12 billion, a PE ratio of 100.57 and a beta of 0.58. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.56 and a quick ratio of 0.81. HighPeak Energy has a 1-year low of $7.60 and a 1-year high of $38.21. The business’s 50-day simple moving average is $26.93 and its 200 day simple moving average is $20.58.

HighPeak Energy (NASDAQ:HPKGet Rating) last announced its quarterly earnings data on Monday, March 7th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). HighPeak Energy had a net margin of 11.97% and a return on equity of 17.65%. The company had revenue of $98.67 million during the quarter, compared to analyst estimates of $89.26 million. During the same quarter in the previous year, the business posted ($0.05) earnings per share. On average, analysts expect that HighPeak Energy will post 4.45 EPS for the current year.

In other HighPeak Energy news, Director Michael H. Gustin sold 8,000 shares of the firm’s 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 accessible through this hyperlink. Company insiders own 89.56% of the company’s stock.

Several hedge funds have recently modified their holdings of the business. Mackenzie Financial Corp purchased a new position in shares of HighPeak Energy during the fourth quarter worth about $7,837,000. 1492 Capital Management LLC purchased a new position in shares of HighPeak Energy during the fourth quarter worth about $4,443,000. Invesco Ltd. boosted its holdings in HighPeak Energy by 140.5% in the 1st quarter. Invesco Ltd. now owns 283,603 shares of the company’s stock valued at $6,296,000 after purchasing an additional 165,665 shares in the last quarter. BlackRock Inc. boosted its holdings in HighPeak Energy by 3.0% in the 1st quarter. BlackRock Inc. now owns 260,762 shares of the company’s stock valued at $5,790,000 after purchasing an additional 7,489 shares in the last quarter. Finally, Union Square Park Capital Management LLC purchased a new stake in HighPeak Energy in the 4th quarter valued at approximately $1,464,000. 14.89% of the stock is currently owned by institutional investors.

About HighPeak Energy (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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