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

HighPeak Energy (NASDAQ:HPK) had its target price reduced by equities researchers at Truist Financial from $14.00 to $12.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective points to a potential downside of 17.18% from the company’s previous close.

HighPeak Energy Price Performance

Shares of NASDAQ HPK traded down $0.09 during midday trading on Monday, hitting $14.49. The stock had a trading volume of 120,419 shares, compared to its average volume of 331,318. HighPeak Energy has a 1 year low of $12.20 and a 1 year high of $18.42. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $1.85 billion, a PE ratio of 11.65 and a beta of 0.68. The stock has a 50 day simple moving average of $15.19 and a 200-day simple moving average of $15.07.

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

Insider Transactions at HighPeak Energy

In related news, CEO Jack Hightower acquired 17,743 shares of HighPeak Energy stock in a transaction dated Thursday, August 29th. The stock was acquired at an average cost of $15.50 per share, with a total value of $275,016.50. Following the purchase, the chief executive officer now directly owns 4,805,350 shares in the company, valued at approximately $74,482,925. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have purchased 203,821 shares of company stock worth $3,154,206. 77.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On HighPeak Energy

Several institutional investors have recently bought and sold shares of HPK. Solstein Capital LLC raised its position in HighPeak Energy by 33.3% in 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 last quarter. EverSource Wealth Advisors LLC acquired a new position in HighPeak Energy in the 1st quarter worth $44,000. Blue Trust Inc. acquired a new position in shares of HighPeak Energy during the 2nd quarter worth about $40,000. Dimensional Fund Advisors LP raised its holdings in shares of HighPeak Energy by 7.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 51,758 shares of the company’s stock valued at $728,000 after purchasing an additional 3,497 shares during the period. Finally, Register Financial Advisors LLC raised its holdings in shares of HighPeak Energy by 16.2% in the 1st quarter. Register Financial Advisors LLC now owns 43,000 shares of the company’s stock valued at $678,000 after purchasing an additional 6,000 shares during the period. 24.13% of the stock is currently owned by 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.