HighPeak Energy (NASDAQ:HPK) Price Target Cut to $12.00 by Analysts at Truist Financial

HighPeak Energy (NASDAQ:HPK) had its target price cut by Truist Financial from $14.00 to $12.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a hold rating on the stock.

HighPeak Energy Trading Up 3.6 %

Shares of HPK opened at $15.10 on Monday. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 12.18 and a beta of 0.68. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.93 and a quick ratio of 0.90. HighPeak Energy has a 1-year low of $12.20 and a 1-year high of $18.42. The company has a 50-day moving average of $15.02 and a 200 day moving average of $15.06.

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

HighPeak Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 3rd were issued a $0.04 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.16 annualized dividend and a dividend yield of 1.06%. HighPeak Energy’s payout ratio is currently 12.90%.

Insider Buying and Selling

In other HighPeak Energy news, CEO Jack Hightower acquired 100,000 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were purchased at an average cost of $15.54 per share, for a total transaction of $1,554,000.00. Following the completion of the purchase, the chief executive officer now owns 4,959,255 shares in the company, valued at $77,066,822.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders acquired a total of 203,821 shares of company stock valued at $3,154,206 over the last three months. 77.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On HighPeak Energy

A number of hedge funds have recently made changes to their positions in HPK. Blue Trust Inc. purchased a new position in HighPeak Energy in the second quarter worth $40,000. EverSource Wealth Advisors LLC purchased a new position in HighPeak Energy during the 1st quarter worth $44,000. Innealta Capital LLC purchased a new position in HighPeak Energy during the 2nd quarter worth $86,000. SG Americas Securities LLC acquired a new position in HighPeak Energy during the 3rd quarter valued at about $107,000. Finally, Solstein Capital LLC boosted its holdings in HighPeak Energy by 33.3% in the second quarter. Solstein Capital LLC now owns 8,000 shares of the company’s stock worth $112,000 after acquiring an additional 2,000 shares in the last quarter. 24.13% of the stock is currently owned by hedge funds and other institutional investors.

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.