HighPeak Energy (NASDAQ:HPK) Price Target Cut to $12.00

HighPeak Energy (NASDAQ:HPK) had its target price lowered by research analysts at Truist Financial from $14.00 to $12.00 in a research report issued 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 16.61% from the stock’s previous close.

HighPeak Energy Stock Up 3.7 %

HPK opened at $14.39 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.93 and a quick ratio of 0.90. HighPeak Energy has a 12 month low of $12.20 and a 12 month high of $18.42. The stock has a market capitalization of $1.84 billion, a P/E ratio of 11.60 and a beta of 0.68. The business has a 50 day simple moving average of $15.09 and a 200-day simple moving average of $15.06.

HighPeak Energy (NASDAQ:HPK) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.22). The firm had revenue of $275.30 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the firm earned $0.28 EPS. On average, equities analysts anticipate that HighPeak Energy will post 1.07 earnings per share for the current fiscal year.

Insider Activity at HighPeak Energy

In other HighPeak Energy news, CEO Jack Hightower bought 17,743 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was bought at an average price of $15.50 per share, for a total transaction of $275,016.50. Following the completion of the transaction, the chief executive officer now owns 4,805,350 shares in the company, valued at approximately $74,482,925. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have acquired 203,821 shares of company stock valued at $3,154,206. Insiders own 77.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HPK. Intrinsic Edge Capital Management LLC acquired a new position in shares of HighPeak Energy in the 4th quarter valued at about $3,636,000. Denali Advisors LLC lifted its position in HighPeak Energy by 80.2% during the second quarter. Denali Advisors LLC now owns 319,800 shares of the company’s stock valued at $4,496,000 after buying an additional 142,300 shares in the last quarter. Interval Partners LP purchased a new stake in HighPeak Energy during the second quarter worth approximately $1,684,000. American Century Companies Inc. increased its position 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 worth $7,321,000 after acquiring an additional 110,099 shares in the last quarter. Finally, Wasatch Advisors LP raised its stake in shares of HighPeak Energy by 15.6% in the 1st quarter. Wasatch Advisors LP now owns 521,150 shares of the company’s stock valued at $8,219,000 after acquiring an additional 70,385 shares during the period. 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.