Truist Financial Cuts HighPeak Energy (NASDAQ:HPK) Price Target to $13.00

HighPeak Energy (NASDAQ:HPK) had its target price decreased by Truist Financial from $15.00 to $13.00 in a research note issued to investors on Thursday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

HighPeak Energy Price Performance

HighPeak Energy stock opened at $11.98 on Thursday. HighPeak Energy has a 12-month low of $10.66 and a 12-month high of $17.48. The firm has a 50-day moving average price of $13.62 and a 200-day moving average price of $14.19. The firm has a market capitalization of $1.51 billion, a PE ratio of 9.43 and a beta of 0.76. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 0.59.

HighPeak Energy (NASDAQ:HPK) last announced its quarterly earnings data on Monday, March 10th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). HighPeak Energy had a net margin of 15.94% and a return on equity of 14.83%. The company had revenue of $234.81 million for the quarter, compared to the consensus estimate of $247.32 million. During the same quarter in the previous year, the business earned $0.66 EPS. The company’s quarterly revenue was down 22.0% compared to the same quarter last year. As a group, equities research analysts forecast that HighPeak Energy will post 0.78 EPS for the current year.

HighPeak Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Monday, March 3rd. HighPeak Energy’s dividend payout ratio is presently 23.88%.

Institutional Trading of HighPeak Energy

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets purchased a new stake in shares of HighPeak Energy in the 4th quarter valued at $26,000. KLP Kapitalforvaltning AS purchased a new stake in shares of HighPeak Energy in the 4th quarter valued at $112,000. FMR LLC boosted its holdings in shares of 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. AlphaQuest LLC boosted its holdings in shares of HighPeak Energy by 509.9% in the 4th quarter. AlphaQuest LLC now owns 8,045 shares of the company’s stock valued at $118,000 after acquiring an additional 6,726 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of HighPeak Energy by 25.4% in the 4th quarter. Wells Fargo & Company MN now owns 9,180 shares of the company’s stock valued at $135,000 after acquiring an additional 1,857 shares during the last quarter. Hedge funds and other institutional investors 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.