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

HighPeak Energy, Inc. (NASDAQ:HPK)’s share price fell 5.4% on Wednesday . The company traded as low as $6.06 and last traded at $6.1390. 190,801 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 391,693 shares. The stock had previously closed at $6.49.

Analysts Set New Price Targets

HPK has been the topic of several research reports. Weiss Ratings restated a “sell (d+)” rating on shares of HighPeak Energy in a report on Wednesday, November 26th. Wall Street Zen downgraded HighPeak Energy from a “hold” rating to a “sell” rating in a research report on Sunday, October 26th. Finally, Roth Capital started coverage on HighPeak Energy in a report on Monday, October 13th. They issued a “buy” rating and a $12.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $11.67.

HighPeak Energy Stock Down 6.6%

The company has a market capitalization of $761.08 million, a price-to-earnings ratio of 16.85 and a beta of 1.06. The business has a fifty day simple moving average of $6.57 and a two-hundred day simple moving average of $8.18. 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). 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 analyst estimates of $224.48 million. During the same quarter in the prior year, the company earned $0.35 earnings per share. The business’s revenue was down 30.5% compared to the same quarter last year. Equities analysts expect that HighPeak Energy, Inc. will post 0.78 EPS for the current year.

HighPeak Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders 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 yield of 2.6%. The ex-dividend date of this dividend is Monday, December 1st. HighPeak Energy’s dividend payout ratio is currently 44.44%.

Institutional Investors Weigh In On HighPeak Energy

A number of large investors have recently bought and sold shares of the business. State of Alaska Department of Revenue bought a new position in shares of HighPeak Energy in the 3rd quarter valued at about $31,000. Strs Ohio acquired a new position in HighPeak Energy in the first quarter valued at approximately $60,000. Raymond James Financial Inc. bought a new position in HighPeak Energy in the second quarter valued at approximately $49,000. OMERS ADMINISTRATION Corp acquired a new stake in HighPeak Energy during the 1st quarter worth $134,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of HighPeak Energy during the 2nd quarter valued at $109,000. 24.13% of the stock is currently owned by institutional investors.

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.