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

HighPeak Energy (NASDAQ:HPK) had its target price decreased by stock analysts at Truist Financial from $15.00 to $13.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s target price suggests a potential upside of 8.51% from the company’s current price.

HighPeak Energy Price Performance

Shares of NASDAQ:HPK opened at $11.98 on Thursday. HighPeak Energy has a fifty-two week low of $10.66 and a fifty-two week high of $17.48. The company’s 50-day moving average is $13.62 and its 200 day moving average is $14.20. The company has a market capitalization of $1.52 billion, a P/E ratio of 9.43 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.93 and a current ratio of 0.96.

HighPeak Energy (NASDAQ:HPK) last announced its quarterly earnings data 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 net margin of 15.94% and a return on equity of 14.83%. The firm had revenue of $234.81 million during the quarter, compared to the consensus estimate of $247.32 million. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The company’s revenue was down 22.0% on a year-over-year basis. On average, equities research analysts forecast that HighPeak Energy will post 0.78 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its stake in HighPeak Energy by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 183,719 shares of the company’s stock worth $2,701,000 after buying an additional 1,445 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of HighPeak Energy by 5.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 29,829 shares of the company’s stock valued at $438,000 after purchasing an additional 1,608 shares during the period. BNP Paribas Financial Markets bought a new position in shares of HighPeak Energy during the fourth quarter valued at approximately $26,000. Wells Fargo & Company MN raised its holdings in shares of HighPeak Energy by 25.4% during the fourth quarter. Wells Fargo & Company MN now owns 9,180 shares of the company’s stock valued at $135,000 after acquiring an additional 1,857 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of HighPeak Energy by 9.4% during the fourth quarter. Barclays PLC now owns 27,242 shares of the company’s stock valued at $400,000 after acquiring an additional 2,331 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.