HighPeak Energy (NASDAQ:HPK) Stock Price Down 14% - Here's Why

HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report) fell 14% during trading on Monday . The stock traded as low as $8.27 and last traded at $8.33. 56,005 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 294,375 shares. The stock had previously closed at $9.69.

Analyst Ratings Changes

Several analysts recently weighed in on HPK shares. Truist Financial cut their price objective on shares of HighPeak Energy from $15.00 to $13.00 and set a "hold" rating on the stock in a research report on Thursday, March 13th. Bank of America initiated coverage on HighPeak Energy in a report on Monday, April 7th. They set an "underperform" rating and a $10.00 price target on the stock.

HighPeak Energy Price Performance

The stock has a 50-day moving average of $12.25 and a two-hundred day moving average of $13.63. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 6.85 and a beta of 0.82. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 0.59.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last issued its earnings results on Monday, March 10th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.07). The business had revenue of $234.81 million during the quarter, compared to analyst estimates of $247.32 million. HighPeak Energy had a return on equity of 14.83% and a net margin of 15.94%. The business's quarterly revenue was down 22.0% on a year-over-year basis. During the same period last year, the business earned $0.66 EPS. On average, analysts anticipate that HighPeak Energy, Inc. will post 0.78 EPS for the current year.

HighPeak Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 3rd were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.84%. The ex-dividend date was Monday, March 3rd. HighPeak Energy's payout ratio is presently 23.88%.

Institutional Trading of HighPeak Energy

Large investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of HighPeak Energy by 17.3% in the third quarter. Geode Capital Management LLC now owns 563,822 shares of the company's stock valued at $7,827,000 after acquiring an additional 82,988 shares during the period. Charles Schwab Investment Management Inc. raised its stake in HighPeak Energy by 24.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 182,274 shares of the company's stock valued at $2,530,000 after purchasing an additional 35,483 shares during the last quarter. Rhumbline Advisers boosted its holdings in HighPeak Energy by 151.8% in the 4th quarter. Rhumbline Advisers now owns 52,352 shares of the company's stock valued at $770,000 after purchasing an additional 31,558 shares during the period. State Street Corp grew its position in HighPeak Energy by 135.1% in the 3rd quarter. State Street Corp now owns 707,425 shares of the company's stock worth $9,819,000 after purchasing an additional 406,536 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of HighPeak Energy by 346.6% during the 3rd quarter. Barclays PLC now owns 24,911 shares of the company's stock worth $346,000 after purchasing an additional 19,333 shares during the period. 24.13% of the stock is 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.