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

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

HighPeak Energy Stock Performance

NASDAQ:HPK opened at $15.10 on Monday. The stock has a 50-day moving average price of $15.02 and a 200 day moving average price of $15.06. The stock has a market capitalization of $1.93 billion, a P/E ratio of 12.18 and a beta of 0.68. HighPeak Energy has a 12-month low of $12.20 and a 12-month high of $18.42. The company has a current ratio of 0.93, a quick ratio of 0.90 and a debt-to-equity ratio of 0.62.

HighPeak Energy (NASDAQ:HPK) last announced its quarterly earnings data 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). HighPeak Energy had a net margin of 14.05% and a return on equity of 15.99%. The company had revenue of $275.30 million for the quarter, compared to analysts’ expectations of $282.56 million. During the same period last year, the business earned $0.28 earnings per share. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. Equities research analysts forecast that HighPeak Energy will post 1.07 EPS for the current fiscal year.

HighPeak Energy Dividend Announcement

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

Insider Activity

In other news, CEO Jack Hightower acquired 17,743 shares of HighPeak Energy stock in a transaction on Thursday, August 29th. The shares were acquired at an average price 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders bought a total of 203,821 shares of company stock worth $3,154,206 over the last 90 days. Corporate insiders own 77.50% of the company’s stock.

Hedge Funds Weigh In On HighPeak Energy

Institutional investors have recently bought and sold shares of the business. Intrinsic Edge Capital Management LLC purchased a new position in shares of HighPeak Energy in the 4th quarter worth approximately $3,636,000. Denali Advisors LLC boosted its stake in HighPeak Energy by 80.2% during the second quarter. Denali Advisors LLC now owns 319,800 shares of the company’s stock worth $4,496,000 after buying an additional 142,300 shares during the period. Interval Partners LP bought a new position in HighPeak Energy during the second quarter valued at $1,684,000. American Century Companies Inc. raised its stake in shares of HighPeak Energy by 26.8% in the second quarter. American Century Companies Inc. now owns 520,698 shares of the company’s stock valued at $7,321,000 after acquiring an additional 110,099 shares during the period. Finally, Wasatch Advisors LP lifted its stake in HighPeak Energy by 15.6% in the first quarter. Wasatch Advisors LP now owns 521,150 shares of the company’s stock worth $8,219,000 after purchasing an additional 70,385 shares during the last quarter. 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.