Truist Financial Cuts HighPeak Energy (NASDAQ:HPK) Price Target to $12.00

HighPeak Energy (NASDAQ:HPK) had its target price reduced by Truist Financial from $14.00 to $12.00 in a research report released on Monday, Benzinga reports. Truist Financial currently has a hold rating on the stock.

HighPeak Energy Stock Up 1.3 %

HPK stock opened at $14.57 on Monday. The stock has a market capitalization of $1.86 billion, a PE ratio of 11.75 and a beta of 0.68. The company has a fifty day moving average of $15.06 and a 200-day moving average of $15.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.90 and a current ratio of 0.93. HighPeak Energy has a one year low of $12.20 and a one year high of $18.42.

HighPeak Energy (NASDAQ:HPK) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.22). HighPeak Energy had a net margin of 14.05% and a return on equity of 15.99%. The firm had revenue of $275.30 million during the quarter, compared to analyst estimates of $282.56 million. During the same quarter in the previous year, the business earned $0.28 EPS. HighPeak Energy’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, analysts expect that HighPeak Energy will post 1.07 EPS for the current year.

HighPeak Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 3rd were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.10%. The ex-dividend date was Tuesday, September 3rd. HighPeak Energy’s payout ratio is 12.90%.

Insider Buying and Selling at HighPeak Energy

In related news, CEO Jack Hightower purchased 100,000 shares of the stock in a transaction dated Friday, September 20th. The shares were acquired at an average cost of $15.54 per share, with a total value of $1,554,000.00. Following the purchase, the chief executive officer now directly owns 4,959,255 shares in the company, valued at approximately $77,066,822.70. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders acquired 203,821 shares of company stock valued at $3,154,206. 77.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On HighPeak Energy

Several institutional investors have recently modified their holdings of HPK. EverSource Wealth Advisors LLC purchased a new stake in shares of HighPeak Energy in the 1st quarter worth about $44,000. Blue Trust Inc. acquired a new position in HighPeak Energy during the second quarter worth about $40,000. Innealta Capital LLC purchased a new stake in shares of HighPeak Energy in the second quarter valued at about $86,000. Solstein Capital LLC grew its position in shares of HighPeak Energy by 33.3% in the second quarter. Solstein Capital LLC now owns 8,000 shares of the company’s stock valued at $112,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Encompass More Asset Management purchased a new position in shares of HighPeak Energy during the 2nd quarter worth approximately $146,000. Hedge funds and other institutional investors 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.