HighPeak Energy (NASDAQ:HPK) PT Lowered to $12.00 at Truist Financial

HighPeak Energy (NASDAQ:HPK) had its price target lowered by Truist Financial from $14.00 to $12.00 in a research note 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 company’s 50 day moving average price is $15.06 and its 200 day moving average price is $15.06. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 11.75 and a beta of 0.68. HighPeak Energy has a fifty-two week low of $12.20 and a fifty-two week high of $18.42. 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 (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). 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 company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 earnings per share. On average, equities research analysts anticipate that HighPeak Energy will post 1.07 EPS for the current fiscal year.

HighPeak Energy Dividend Announcement

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

Insider Transactions at HighPeak Energy

In related news, CEO Jack Hightower purchased 17,743 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were bought at an average cost of $15.50 per share, for a total transaction of $275,016.50. Following the completion of the purchase, the chief executive officer now directly owns 4,805,350 shares of the company’s stock, valued at approximately $74,482,925. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders acquired 203,821 shares of company stock valued at $3,154,206. 77.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On HighPeak Energy

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