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

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

Analysts Set New Price Targets

HPK has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HighPeak Energy in a research note on Wednesday, November 26th. 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. Finally, Wall Street Zen downgraded 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 assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, HighPeak Energy has a consensus rating of “Hold” and an average target price of $11.67.

HighPeak Energy Stock Performance

The stock’s 50 day simple moving average is $6.57 and its two-hundred day simple moving average is $8.18. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.65 and a quick ratio of 1.58. The stock has a market cap of $761.08 million, a P/E ratio of 16.85 and a beta of 1.06.

HighPeak Energy (NASDAQ:HPK) last announced its earnings results 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 during the quarter, compared to analyst estimates of $224.48 million. During the same period in the previous year, the company posted $0.35 earnings per share. HighPeak Energy’s revenue for the quarter was down 30.5% on a year-over-year basis. As a group, research analysts forecast that HighPeak Energy, Inc. will post 0.78 EPS for the current year.

HighPeak Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Monday, December 1st will be given a $0.04 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.16 dividend on an annualized basis and a yield of 2.6%. HighPeak Energy’s dividend payout ratio (DPR) is 44.44%.

Institutional Trading of HighPeak Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue acquired a new stake in shares of HighPeak Energy during the third quarter worth $31,000. Raymond James Financial Inc. bought a new position in HighPeak Energy during the second quarter worth about $49,000. Strs Ohio acquired a new stake in HighPeak Energy in the 1st quarter worth about $60,000. Brevan Howard Capital Management LP acquired a new stake in HighPeak Energy in the 3rd quarter worth about $79,000. Finally, WINTON GROUP Ltd bought a new stake in HighPeak Energy in the 3rd quarter valued at about $102,000. 24.13% of the stock is owned by institutional investors.

About HighPeak Energy

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.