HighPeak Energy (NASDAQ:HPK) Hits New 12-Month Low – Here’s What Happened

HighPeak Energy, Inc. (NASDAQ:HPK)’s share price 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. The stock had previously closed at $11.34.

Wall Street Analysts Forecast Growth

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

HighPeak Energy Stock Down 14.6 %

The company has a market cap of $1.22 billion, a P/E ratio of 7.63 and a beta of 0.82. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.96 and a quick ratio of 0.93. The business’s 50 day moving average price is $13.05 and its 200-day moving average price is $13.98.

HighPeak Energy (NASDAQ:HPK) last issued its quarterly earnings data on Monday, March 10th. The company reported $0.06 earnings per share (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 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 company’s revenue for the quarter was down 22.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 EPS. On average, analysts anticipate that HighPeak Energy, Inc. will post 0.78 earnings per share for the current fiscal year.

HighPeak Energy Announces Dividend

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

Hedge Funds Weigh In On HighPeak Energy

Institutional investors have recently modified their holdings of the stock. State Street Corp raised 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. Corigliano Investment Advisers LLC acquired a new stake in shares of HighPeak Energy in the 4th quarter valued at $4,762,000. Bank of New York Mellon Corp raised its position in shares of HighPeak Energy by 54.3% during the fourth quarter. Bank of New York Mellon Corp now owns 467,294 shares of the company’s stock worth $6,869,000 after acquiring an additional 164,398 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of HighPeak Energy by 6.7% during the fourth quarter. Vanguard Group Inc. now owns 2,158,851 shares of the company’s stock valued at $31,735,000 after acquiring an additional 135,792 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in 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 last quarter. 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.