HighPeak Energy (NASDAQ:HPK) Shares Up 4.5% – Still a Buy?

HighPeak Energy, Inc. (NASDAQ:HPK)’s stock price rose 4.5% during trading on Thursday . The stock traded as high as $6.07 and last traded at $5.9560. Approximately 450,892 shares traded hands during trading, an increase of 17% from the average daily volume of 384,905 shares. The stock had previously closed at $5.70.

Analysts Set New Price Targets

HPK has been the topic of several research analyst reports. Wall Street Zen lowered shares of HighPeak Energy from a “hold” rating to a “sell” rating in a research report on Sunday, October 26th. Roth Capital assumed coverage on shares of HighPeak Energy in a research note on Monday, October 13th. They issued a “buy” rating and a $12.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of HighPeak Energy in a research report on Friday, October 31st. One research 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’s stock. According to data from MarketBeat.com, HighPeak Energy presently has an average rating of “Hold” and an average price target of $11.67.

HighPeak Energy Stock Up 4.2%

The stock has a market capitalization of $746.00 million, a price-to-earnings ratio of 16.50 and a beta of 1.09. The firm has a 50 day simple moving average of $6.68 and a 200-day simple moving average of $8.36. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.65 and a quick ratio of 1.58.

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 the consensus estimate of $0.26 by ($0.23). The firm had revenue of $188.86 million for the quarter, compared to analyst estimates of $224.48 million. HighPeak Energy had a return on equity of 4.23% and a net margin of 6.03%.The business’s quarterly revenue was down 30.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.35 EPS. On average, sell-side analysts forecast that HighPeak Energy, Inc. will post 0.78 EPS for the current fiscal year.

HighPeak Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 1st will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Monday, December 1st. HighPeak Energy’s payout ratio is currently 44.44%.

Institutional Trading of HighPeak Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in HighPeak Energy by 10.0% in the first quarter. Vanguard Group Inc. now owns 2,375,805 shares of the company’s stock valued at $30,078,000 after buying an additional 216,954 shares in the last quarter. Trexquant Investment LP bought a new position in shares of HighPeak Energy in the 1st quarter worth $645,000. GSA Capital Partners LLP increased its holdings in shares of HighPeak Energy by 42.3% in the first quarter. GSA Capital Partners LLP now owns 167,864 shares of the company’s stock worth $2,125,000 after buying an additional 49,867 shares during the period. Voya Investment Management LLC raised its holdings in shares of HighPeak Energy by 29.0% during the first quarter. Voya Investment Management LLC now owns 159,103 shares of the company’s stock valued at $2,014,000 after acquiring an additional 35,728 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in HighPeak Energy during the 1st quarter valued at $159,000. Institutional investors and hedge funds own 24.13% of the company’s stock.

HighPeak Energy Company Profile

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.