HighPeak Energy (NASDAQ:HPK) Trading Down 6.9% – Here’s Why

HighPeak Energy, Inc. (NASDAQ:HPK)’s stock price dropped 6.9% during mid-day trading on Thursday . The company traded as low as $4.63 and last traded at $4.60. Approximately 44,395 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 731,285 shares. The stock had previously closed at $4.94.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on HPK shares. Weiss Ratings reissued a “sell (d+)” rating on shares of HighPeak Energy in a research note on Monday, December 29th. Roth Capital started coverage on shares of HighPeak Energy in a research note on Monday, October 13th. They issued a “buy” rating and a $12.00 price target on the stock. Finally, Wall Street Zen cut shares of HighPeak Energy from a “hold” rating to a “sell” rating in a research note on Sunday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, HighPeak Energy presently has an average rating of “Hold” and an average target price of $11.67.

HighPeak Energy Trading Down 2.3%

The business’s 50-day simple moving average is $5.24 and its two-hundred day simple moving average is $6.90. The firm has a market capitalization of $578.97 million, a price-to-earnings ratio of 12.81 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.

HighPeak Energy (NASDAQ:HPK) last posted 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). HighPeak Energy had a return on equity of 4.23% and a net margin of 6.03%.The company had revenue of $188.86 million for the quarter, compared to analysts’ expectations of $224.48 million. During the same period in the previous year, the business posted $0.35 EPS. The business’s revenue for the quarter was down 30.5% on a year-over-year basis. Equities analysts forecast that HighPeak Energy, Inc. will post 0.78 earnings per share for the current year.

HighPeak Energy Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HPK. State of Alaska Department of Revenue acquired a new stake in HighPeak Energy during the 3rd quarter worth approximately $31,000. Strs Ohio acquired a new stake in shares of HighPeak Energy in the first quarter valued at $60,000. Raymond James Financial Inc. acquired a new stake in shares of HighPeak Energy in the second quarter valued at $49,000. Arrowstreet Capital Limited Partnership purchased a new position in HighPeak Energy in the second quarter valued at $109,000. Finally, Brevan Howard Capital Management LP acquired a new position in HighPeak Energy during the 3rd quarter worth $79,000. Hedge funds and other 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.