HighPeak Energy (NASDAQ:HPK) Sets New 52-Week Low After Earnings Miss

HighPeak Energy, Inc. (NASDAQ:HPK)’s share price reached a new 52-week low during mid-day trading on Tuesday following a dissappointing earnings announcement. The stock traded as low as $11.08 and last traded at $11.08, with a volume of 93894 shares changing hands. The stock had previously closed at $11.81.

The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 15.94% and a return on equity of 14.83%. The firm’s quarterly revenue was down 22.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 earnings per share.

HighPeak Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.04 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.40%. HighPeak Energy’s payout ratio is 12.60%.

Analyst Ratings Changes

Separately, Truist Financial increased their price target on shares of HighPeak Energy from $14.00 to $15.00 and gave the stock a “hold” rating in a research report on Monday, January 13th.

Institutional Trading of HighPeak Energy

A number of hedge funds have recently made changes to their positions in the company. State Street Corp raised its position in HighPeak Energy by 135.1% during 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 during the 4th quarter worth approximately $4,762,000. Bank of New York Mellon Corp increased its stake in shares of HighPeak Energy by 54.3% in the 4th quarter. Bank of New York Mellon Corp now owns 467,294 shares of the company’s stock valued at $6,869,000 after acquiring an additional 164,398 shares in the last quarter. Vanguard Group Inc. increased its stake in HighPeak Energy by 6.7% in the fourth quarter. Vanguard Group Inc. now owns 2,158,851 shares of the company’s stock valued at $31,735,000 after purchasing an additional 135,792 shares in the last quarter. Finally, Geode Capital Management LLC raised 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 worth $7,827,000 after buying an additional 82,988 shares during the period. 24.13% of the stock is owned by institutional investors and hedge funds.

HighPeak Energy Trading Up 4.1 %

The firm has a fifty day simple moving average of $13.78 and a 200-day simple moving average of $14.24. 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 firm has a market cap of $1.44 billion, a P/E ratio of 8.97 and a beta of 0.76.

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.