HighPeak Energy (NASDAQ:HPK) Stock Price Up 5.6% – Here’s Why

Shares of HighPeak Energy, Inc. (NASDAQ:HPK) were up 5.6% during trading on Tuesday . The company traded as high as $4.67 and last traded at $4.5950. Approximately 142,465 shares changed hands during trading, a decline of 81% from the average daily volume of 737,468 shares. The stock had previously closed at $4.35.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on HPK shares. Roth Capital began coverage on shares of HighPeak Energy in a report on Monday, October 13th. They set a “buy” rating and a $12.00 price objective for the company. Wall Street Zen lowered HighPeak Energy from a “hold” rating to a “sell” rating in a report on Sunday, October 26th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of HighPeak Energy in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.67.

HighPeak Energy Stock Performance

The firm has a market cap of $589.02 million, a PE ratio of 13.01 and a beta of 0.65. The company has a quick ratio of 1.58, a current ratio of 1.65 and a debt-to-equity ratio of 0.71. The company has a 50-day simple moving average of $5.33 and a two-hundred day simple moving average of $7.01.

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

HighPeak Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Monday, December 1st were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Monday, December 1st. HighPeak Energy’s dividend payout ratio is currently 44.44%.

Institutional Investors Weigh In On HighPeak Energy

A number of hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue bought a new stake in shares of HighPeak Energy in the third quarter valued at $31,000. Strs Ohio bought a new stake in HighPeak Energy in the 1st quarter valued at about $60,000. Raymond James Financial Inc. purchased a new stake in HighPeak Energy during the second quarter valued at about $49,000. Arrowstreet Capital Limited Partnership bought a new position in HighPeak Energy during the second quarter worth about $109,000. Finally, Brevan Howard Capital Management LP purchased a new position in shares of HighPeak Energy in the third quarter worth about $79,000. Institutional investors own 24.13% of the company’s stock.

About HighPeak Energy

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.