HighPeak Energy (NASDAQ:HPK) Earns Underperform Rating from Analysts at Bank of America

Bank of America started coverage on shares of HighPeak Energy (NASDAQ:HPK) in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The firm set an “underperform” rating and a $10.00 price target on the stock. Bank of America‘s price target suggests a potential upside of 22.10% from the company’s current price.

Separately, Truist Financial cut their target price 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 Down 8.0 %

HighPeak Energy stock opened at $8.19 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.96 and a quick ratio of 0.93. The stock has a market capitalization of $1.03 billion, a PE ratio of 6.45 and a beta of 0.82. The business has a 50 day simple moving average of $12.62 and a 200-day simple moving average of $13.79. HighPeak Energy has a 12 month low of $8.01 and a 12 month high of $17.48.

HighPeak Energy (NASDAQ:HPK) last released its quarterly earnings results on Monday, March 10th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). The company had revenue of $234.81 million during 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%. HighPeak Energy’s revenue was down 22.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 EPS. On average, analysts anticipate that HighPeak Energy will post 0.78 EPS for the current fiscal year.

Institutional Investors Weigh In On HighPeak Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets purchased a new position in shares of HighPeak Energy in the fourth quarter worth about $26,000. FMR LLC raised its holdings in HighPeak Energy by 766.6% in the 3rd quarter. FMR LLC now owns 8,016 shares of the company’s stock valued at $111,000 after acquiring an additional 7,091 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in HighPeak Energy in the 4th quarter worth approximately $112,000. AlphaQuest LLC boosted its holdings in shares of HighPeak Energy by 509.9% during the 4th quarter. AlphaQuest LLC now owns 8,045 shares of the company’s stock worth $118,000 after purchasing an additional 6,726 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of HighPeak Energy by 25.4% in the fourth quarter. Wells Fargo & Company MN now owns 9,180 shares of the company’s stock valued at $135,000 after purchasing an additional 1,857 shares in the last quarter. Institutional investors and hedge funds own 24.13% of the company’s stock.

About HighPeak Energy

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.