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

HighPeak Energy (NASDAQ:HPK) had its price objective dropped by equities research analysts at Truist Financial from $15.00 to $13.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price objective indicates a potential upside of 11.41% from the company’s current price.

HighPeak Energy Trading Up 2.4 %

Shares of HPK traded up $0.28 during trading hours on Thursday, reaching $11.67. The stock had a trading volume of 44,899 shares, compared to its average volume of 255,458. The company has a market cap of $1.48 billion, a P/E ratio of 9.22 and a beta of 0.76. HighPeak Energy has a 52 week low of $10.66 and a 52 week high of $17.48. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average of $13.78 and a 200 day moving average of $14.24.

HighPeak Energy (NASDAQ:HPK) last released its quarterly earnings results on Monday, March 10th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). HighPeak Energy had a return on equity of 14.83% and a net margin of 15.94%. The business had revenue of $234.81 million for the quarter, compared to analyst estimates of $247.32 million. During the same period in the prior year, the business earned $0.66 EPS. The company’s revenue for the quarter was down 22.0% compared to the same quarter last year. On average, sell-side analysts expect that HighPeak Energy will post 0.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On HighPeak Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in shares of HighPeak Energy by 17.3% in the 3rd quarter. Geode Capital Management LLC now owns 563,822 shares of the company’s stock valued at $7,827,000 after purchasing an additional 82,988 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of HighPeak Energy by 24.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 182,274 shares of the company’s stock worth $2,530,000 after buying an additional 35,483 shares in the last quarter. State Street Corp raised its position in HighPeak Energy by 135.1% in the 3rd quarter. State Street Corp now owns 707,425 shares of the company’s stock valued at $9,819,000 after buying an additional 406,536 shares during the last quarter. Barclays PLC lifted its stake in HighPeak Energy by 346.6% in the 3rd quarter. Barclays PLC now owns 24,911 shares of the company’s stock valued at $346,000 after acquiring an additional 19,333 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in HighPeak Energy by 151.8% in the 4th quarter. Rhumbline Advisers now owns 52,352 shares of the company’s stock valued at $770,000 after acquiring an additional 31,558 shares in the last quarter. 24.13% of the stock is currently owned by institutional investors and hedge funds.

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.