HighPeak Energy (NASDAQ:HPK) Given New $13.00 Price Target at Truist Financial

HighPeak Energy (NASDAQ:HPK) had its target price cut by Truist Financial from $15.00 to $13.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a hold rating on the stock.

HighPeak Energy Stock Performance

NASDAQ:HPK opened at $11.98 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.93 and a current ratio of 0.96. The company has a fifty day moving average of $13.62 and a two-hundred day moving average of $14.19. The stock has a market capitalization of $1.51 billion, a PE ratio of 9.43 and a beta of 0.76. HighPeak Energy has a fifty-two week low of $10.66 and a fifty-two week high of $17.48.

HighPeak Energy (NASDAQ:HPK) last released its earnings results on Monday, March 10th. The company reported $0.06 earnings per share (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 analysts’ expectations of $247.32 million. During the same period in the previous year, the company earned $0.66 EPS. HighPeak Energy’s quarterly revenue was down 22.0% compared to the same quarter last year. As a group, research analysts forecast that HighPeak Energy will post 0.78 earnings per share for the current fiscal year.

HighPeak Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 3rd will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Monday, March 3rd. HighPeak Energy’s dividend payout ratio is currently 23.88%.

Institutional Investors Weigh In On HighPeak Energy

Hedge funds have recently modified their holdings of the company. Empowered Funds LLC boosted its stake in HighPeak Energy by 5.4% during the third quarter. Empowered Funds LLC now owns 173,888 shares of the company’s stock worth $2,414,000 after buying an additional 8,844 shares during the period. Charles Schwab Investment Management Inc. lifted its position 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 purchasing an additional 35,483 shares in the last quarter. FMR LLC lifted its position in shares of HighPeak Energy by 766.6% during the third quarter. FMR LLC now owns 8,016 shares of the company’s stock worth $111,000 after purchasing an additional 7,091 shares in the last quarter. State Street Corp lifted its position in shares of HighPeak Energy by 135.1% during the third quarter. State Street Corp now owns 707,425 shares of the company’s stock worth $9,819,000 after purchasing an additional 406,536 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of HighPeak Energy by 346.6% during the third quarter. Barclays PLC now owns 24,911 shares of the company’s stock worth $346,000 after purchasing an additional 19,333 shares in 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.