HighPeak Energy (NASDAQ:HPK) Stock Price Down 14% – Should You Sell?

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

Analysts Set New Price Targets

A number of brokerages have issued reports on HPK. Bank of America assumed coverage on shares of HighPeak Energy in a report on Monday. They issued an “underperform” rating and a $10.00 target price on the stock. Truist Financial decreased their price target on HighPeak Energy from $15.00 to $13.00 and set a “hold” rating for the company in a research report on Thursday, March 13th.

HighPeak Energy Trading Down 8.2 %

The business’s 50 day simple moving average is $12.96 and its 200-day simple moving average is $13.93. 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 stock has a market capitalization of $1.12 billion, a P/E ratio of 7.01 and a beta of 0.82.

HighPeak Energy (NASDAQ:HPK) 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 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 business’s revenue was down 22.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 earnings per share. As a group, analysts forecast that HighPeak Energy, Inc. will post 0.78 EPS for the current year.

HighPeak Energy Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 1.80%. The ex-dividend date was Monday, March 3rd. HighPeak Energy’s payout ratio is presently 23.88%.

Institutional Trading of HighPeak Energy

Several large investors have recently modified their holdings of HPK. Vanguard Group Inc. raised its stake in HighPeak Energy by 6.7% during the 4th quarter. Vanguard Group Inc. now owns 2,158,851 shares of the company’s stock worth $31,735,000 after buying an additional 135,792 shares during the period. American Century Companies Inc. raised its position in shares of HighPeak Energy by 11.2% during the fourth quarter. American Century Companies Inc. now owns 714,060 shares of the company’s stock worth $10,497,000 after purchasing an additional 71,802 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 valued at $9,819,000 after purchasing an additional 406,536 shares during the period. Geode Capital Management LLC increased its stake in HighPeak Energy by 17.3% during the 3rd quarter. Geode Capital Management LLC now owns 563,822 shares of the company’s stock valued at $7,827,000 after purchasing an additional 82,988 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in 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 buying an additional 164,398 shares during the last quarter. Institutional investors and hedge funds 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.