HighPeak Energy (NASDAQ:HPK) Hits New 12-Month Low Following Weak Earnings

HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report)'s share price reached a new 52-week low during trading on Tuesday following a weaker than expected earnings announcement. The stock traded as low as $11.08 and last traded at $11.08, with a volume of 93894 shares. The stock had previously closed at $11.81.

The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.07). HighPeak Energy had a return on equity of 14.83% and a net margin of 15.94%. The firm had revenue of $234.81 million for the quarter, compared to the consensus estimate of $247.32 million. During the same quarter in the previous year, the business posted $0.66 EPS. The firm's revenue for the quarter was down 22.0% compared to the same quarter last year.

HighPeak Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 3rd will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Monday, March 3rd. HighPeak Energy's dividend payout ratio is presently 12.60%.

Wall Street Analysts Forecast Growth

Separately, Truist Financial raised their target price on HighPeak Energy from $14.00 to $15.00 and gave the company a "hold" rating in a report on Monday, January 13th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in HighPeak Energy by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 183,719 shares of the company's stock valued at $2,701,000 after purchasing an additional 1,445 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in HighPeak Energy by 5.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 29,829 shares of the company's stock worth $438,000 after acquiring an additional 1,608 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in HighPeak Energy in the 4th quarter valued at about $26,000. Wells Fargo & Company MN boosted 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 worth $135,000 after purchasing an additional 1,857 shares during the period. Finally, Barclays PLC raised its position in shares of HighPeak Energy by 9.4% in the fourth quarter. Barclays PLC now owns 27,242 shares of the company's stock valued at $400,000 after purchasing an additional 2,331 shares during the period. 24.13% of the stock is currently owned by hedge funds and other institutional investors.

HighPeak Energy Price Performance

The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.93 and a current ratio of 0.96. The firm has a market capitalization of $1.39 billion, a PE ratio of 8.67 and a beta of 0.76. The business's 50 day moving average is $13.92 and its two-hundred day moving average is $14.29.

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.

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