HighPeak Energy (NASDAQ:HPK) Shares Down 5.4% – Here’s Why

HighPeak Energy, Inc. (NASDAQ:HPK)’s share price fell 5.4% during trading on Wednesday . The company traded as low as $5.37 and last traded at $5.3460. 56,295 shares were traded during mid-day trading, a decline of 86% from the average session volume of 398,532 shares. The stock had previously closed at $5.65.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HPK. Weiss Ratings reiterated a “sell (d)” rating on shares of HighPeak Energy in a research report on Monday. Wall Street Zen cut HighPeak Energy from a “hold” rating to a “sell” rating in a research report on Sunday, October 26th. Finally, Roth Capital initiated coverage on HighPeak Energy in a research report on Monday, October 13th. They set a “buy” rating and a $12.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $11.67.

HighPeak Energy Price Performance

The company’s 50-day simple moving average is $6.43 and its 200 day simple moving average is $8.05. The company has a market capitalization of $680.68 million, a P/E ratio of 15.17 and a beta of 1.06. The company has a quick ratio of 1.58, a current ratio of 1.65 and a debt-to-equity ratio of 0.71.

HighPeak Energy (NASDAQ:HPK) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.23). The business had revenue of $188.86 million during the quarter, compared to analyst estimates of $224.48 million. HighPeak Energy had a net margin of 6.03% and a return on equity of 4.23%. The firm’s revenue for the quarter was down 30.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 EPS. As a group, sell-side analysts expect that HighPeak Energy, Inc. will post 0.78 earnings per share for the current fiscal year.

HighPeak Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Monday, December 1st will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, December 1st. HighPeak Energy’s dividend payout ratio is 44.44%.

Institutional Investors Weigh In On HighPeak Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue acquired a new position in HighPeak Energy during the third quarter valued at approximately $31,000. Strs Ohio bought a new stake in shares of HighPeak Energy during the 1st quarter worth $60,000. Raymond James Financial Inc. acquired a new position in HighPeak Energy in the 2nd quarter valued at $49,000. OMERS ADMINISTRATION Corp acquired a new position in HighPeak Energy in the 1st quarter valued at $134,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in HighPeak Energy in the 2nd quarter worth $109,000. 24.13% of the stock is currently owned by institutional investors and hedge funds.

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.