HighPeak Energy (NASDAQ:HPK) Trading 3.5% Higher – Here’s Why

HighPeak Energy, Inc. (NASDAQ:HPK)’s stock price rose 3.5% during mid-day trading on Monday . The company traded as high as $4.50 and last traded at $4.42. Approximately 68,247 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 419,123 shares. The stock had previously closed at $4.27.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HPK. Wall Street Zen cut HighPeak Energy from a “hold” rating to a “sell” rating in a research report on Sunday, October 26th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of HighPeak Energy in a report on Monday, December 15th. Finally, Roth Capital began coverage on shares of HighPeak Energy in a research report on Monday, October 13th. They set a “buy” rating and a $12.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, HighPeak Energy currently has an average rating of “Hold” and a consensus price target of $11.67.

HighPeak Energy Trading Up 5.9%

The stock’s 50 day simple moving average is $5.80 and its 200 day simple moving average is $7.51. The firm has a market cap of $567.67 million, a PE ratio of 12.57 and a beta of 1.06. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.58 and a current ratio of 1.65.

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

HighPeak Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Monday, December 1st were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Monday, December 1st. HighPeak Energy’s dividend payout ratio is currently 44.44%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HPK. Vanguard Group Inc. raised its stake in HighPeak Energy by 3.7% in the third quarter. Vanguard Group Inc. now owns 2,666,153 shares of the company’s stock worth $18,850,000 after buying an additional 94,834 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of HighPeak Energy by 8.9% during the 2nd quarter. American Century Companies Inc. now owns 884,695 shares of the company’s stock valued at $8,670,000 after buying an additional 72,551 shares in the last quarter. Geode Capital Management LLC grew its position in shares of HighPeak Energy by 12.4% in the 2nd quarter. Geode Capital Management LLC now owns 640,028 shares of the company’s stock worth $6,273,000 after buying an additional 70,590 shares during the period. Denali Advisors LLC increased its stake in shares of HighPeak Energy by 11.5% in the 3rd quarter. Denali Advisors LLC now owns 582,532 shares of the company’s stock worth $4,119,000 after acquiring an additional 60,007 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its holdings in shares of HighPeak Energy by 3.6% during the third quarter. Creative Financial Designs Inc. ADV now owns 478,462 shares of the company’s stock valued at $3,383,000 after purchasing an additional 16,705 shares during the last quarter. 24.13% of the stock is currently owned by institutional investors.

HighPeak Energy Company Profile

HighPeak Energy, Inc (NASDAQ: HPK) is a Delaware‐incorporated independent oil and natural gas exploration and production company. The firm focuses on the acquisition, development and exploitation of onshore petroleum assets in the continental United States. Its operations encompass the full upstream value chain, including exploration, drilling, completion and production activities aimed at maximizing hydrocarbon recovery and operational efficiency.

The company’s primary business activities include identifying and acquiring conventional and unconventional oil and gas properties, applying advanced drilling and completion technologies, and managing midstream logistics to optimize product flow.