Truist Financial Lowers HighPeak Energy (NASDAQ:HPK) Price Target to $10.00

HighPeak Energy (NASDAQ:HPK) had its target price cut by equities researchers at Truist Financial from $11.00 to $10.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “sell” rating on the stock. Truist Financial’s target price indicates a potential downside of 37.54% from the stock’s previous close.

HighPeak Energy Trading Up 0.3 %

HPK stock traded up $0.05 during midday trading on Friday, reaching $16.01. 212,683 shares of the company traded hands, compared to its average volume of 363,300. HighPeak Energy has a 52-week low of $10.44 and a 52-week high of $24.33. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.12 and a current ratio of 1.14. The business has a 50 day moving average of $15.32 and a 200-day moving average of $15.47. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 10.17 and a beta of 0.63.

HighPeak Energy (NASDAQ:HPK) last announced its quarterly earnings data on Wednesday, March 6th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.09. The company had revenue of $301.15 million for the quarter, compared to analysts’ expectations of $329.85 million. HighPeak Energy had a return on equity of 17.70% and a net margin of 19.42%. As a group, sell-side analysts expect that HighPeak Energy will post 1.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On HighPeak Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN boosted its stake in HighPeak Energy by 26.2% in the fourth quarter. Wells Fargo & Company MN now owns 2,945 shares of the company’s stock valued at $67,000 after acquiring an additional 612 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of HighPeak Energy by 9.1% in the first quarter. Rhumbline Advisers now owns 9,641 shares of the company’s stock valued at $222,000 after buying an additional 807 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of HighPeak Energy by 36.3% in the second quarter. California State Teachers Retirement System now owns 3,541 shares of the company’s stock valued at $39,000 after buying an additional 944 shares during the last quarter. Solstein Capital LLC raised its holdings in shares of HighPeak Energy by 20.0% in the third quarter. Solstein Capital LLC now owns 6,000 shares of the company’s stock valued at $101,000 after buying an additional 1,000 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of HighPeak Energy by 10.0% in the third quarter. Commonwealth Equity Services LLC now owns 13,102 shares of the company’s stock valued at $221,000 after buying an additional 1,195 shares during the last quarter. 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.