HighPeak Energy (NASDAQ:HPK) Trading 9% Higher – Still a Buy?

HighPeak Energy, Inc. (NASDAQ:HPK)’s stock price shot up 9% during trading on Friday . The stock traded as high as $5.45 and last traded at $5.71. 27,464 shares were traded during trading, a decline of 93% from the average session volume of 381,427 shares. The stock had previously closed at $5.24.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of HighPeak Energy in a research note on Friday, October 31st. Roth Capital started coverage on HighPeak Energy in a report on Monday, October 13th. They set a “buy” rating and a $12.00 price target on the stock. Finally, Wall Street Zen downgraded shares of HighPeak Energy from a “hold” rating to a “sell” rating in a research note on Sunday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $11.67.

HighPeak Energy Stock Performance

The business has a 50-day moving average of $6.98 and a 200 day moving average of $8.56. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.87 and a quick ratio of 0.82. The company has a market cap of $726.26 million, a PE ratio of 16.00 and a beta of 1.09.

HighPeak Energy (NASDAQ:HPK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.23). HighPeak Energy had a net margin of 6.03% and a return on equity of 4.23%. The firm had revenue of $188.86 million for the quarter, compared to the consensus estimate of $224.48 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. The company’s revenue for the quarter was down 30.5% compared to the same quarter last year. Equities research analysts anticipate that HighPeak Energy, Inc. will post 0.78 EPS for the current fiscal year.

HighPeak Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 1st will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. HighPeak Energy’s dividend payout ratio is currently 44.44%.

Institutional Investors Weigh In On HighPeak Energy

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of HighPeak Energy by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,666,153 shares of the company’s stock worth $18,850,000 after purchasing an additional 94,834 shares in the last quarter. Denali Advisors LLC grew its holdings in HighPeak Energy by 11.5% during the third quarter. Denali Advisors LLC now owns 582,532 shares of the company’s stock valued at $4,119,000 after purchasing an additional 60,007 shares during the period. Principal Financial Group Inc. increased its position in HighPeak Energy by 129.2% in the third quarter. Principal Financial Group Inc. now owns 37,509 shares of the company’s stock worth $265,000 after buying an additional 21,145 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of HighPeak Energy by 18.5% in the third quarter. New York State Common Retirement Fund now owns 192,302 shares of the company’s stock worth $1,360,000 after buying an additional 30,000 shares during the period. Finally, Hussman Strategic Advisors Inc. bought a new position in shares of HighPeak Energy during the 3rd quarter valued at approximately $742,000. Institutional investors 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.