HighPeak Energy (NASDAQ:HPK) Sets New 52-Week Low – What’s Next?

Shares of HighPeak Energy, Inc. (NASDAQ:HPK) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $9.54 and last traded at $9.67, with a volume of 311804 shares changing hands. The stock had previously closed at $11.34.

Wall Street Analyst Weigh In

Separately, Truist Financial dropped their price target on HighPeak Energy from $15.00 to $13.00 and set a “hold” rating on the stock in a research report on Thursday, March 13th.

HighPeak Energy Price Performance

The firm has a fifty day moving average price of $12.96 and a two-hundred day moving average price of $13.94. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $1.22 billion, a P/E ratio of 7.63 and a beta of 0.82.

HighPeak Energy (NASDAQ:HPK) last released its quarterly earnings data on Monday, March 10th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). The firm had revenue of $234.81 million for the quarter, compared to the consensus estimate of $247.32 million. HighPeak Energy had a net margin of 15.94% and a return on equity of 14.83%. The firm’s revenue for the quarter was down 22.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 earnings per share. On average, analysts expect that HighPeak Energy, Inc. will post 0.78 EPS for the current year.

HighPeak Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 3rd were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Monday, March 3rd. HighPeak Energy’s payout ratio is 23.88%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HPK. BNP Paribas Financial Markets bought a new stake in HighPeak Energy in the 4th quarter worth about $26,000. FMR LLC boosted its holdings in shares of HighPeak Energy by 766.6% during the 3rd quarter. FMR LLC now owns 8,016 shares of the company’s stock valued at $111,000 after acquiring an additional 7,091 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of HighPeak Energy in the fourth quarter worth approximately $112,000. AlphaQuest LLC raised its holdings in shares of HighPeak Energy by 509.9% during the fourth quarter. AlphaQuest LLC now owns 8,045 shares of the company’s stock valued at $118,000 after purchasing an additional 6,726 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in HighPeak Energy by 25.4% during the fourth quarter. Wells Fargo & Company MN now owns 9,180 shares of the company’s stock valued at $135,000 after purchasing an additional 1,857 shares during the period. Hedge funds and other institutional investors 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.