HighPeak Energy (NASDAQ:HPK) Sets New 1-Year Low - Here's Why

Shares of HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report) hit a new 52-week low on Friday . The stock traded as low as $9.54 and last traded at $9.67, with a volume of 311804 shares traded. The stock had previously closed at $11.34.

Analyst Ratings Changes

HPK has been the topic of several research analyst reports. Truist Financial reduced their price objective on HighPeak Energy from $15.00 to $13.00 and set a "hold" rating on the stock in a research note on Thursday, March 13th. Bank of America began coverage on shares of HighPeak Energy in a report on Monday. They issued an "underperform" rating and a $10.00 target price for the company.

HighPeak Energy Trading Up 19.7 %

The business's 50 day simple moving average is $12.46 and its two-hundred day simple moving average is $13.73. The stock has a market cap of $1.24 billion, a P/E ratio of 7.72 and a beta of 0.82. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 0.59.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last issued 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 return on equity of 14.83% and a net margin of 15.94%. The company's revenue was down 22.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 EPS. As a group, analysts expect that HighPeak Energy, Inc. will post 0.78 EPS for the current year.

HighPeak Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 3rd were issued a $0.04 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.16 dividend on an annualized basis and a yield of 1.63%. HighPeak Energy's dividend payout ratio (DPR) is presently 23.88%.

Institutional Investors Weigh In On HighPeak Energy

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets acquired a new position in shares of HighPeak Energy in the fourth quarter worth approximately $26,000. FMR LLC lifted its holdings in shares of HighPeak Energy by 766.6% in the third quarter. FMR LLC now owns 8,016 shares of the company's stock valued at $111,000 after purchasing an additional 7,091 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of HighPeak Energy in the fourth quarter valued at approximately $112,000. AlphaQuest LLC lifted its stake in HighPeak Energy by 509.9% in 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 boosted its holdings in shares of HighPeak Energy by 25.4% in the fourth quarter. Wells Fargo & Company MN now owns 9,180 shares of the company's stock worth $135,000 after acquiring an additional 1,857 shares during the period. 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.