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

HighPeak Energy, Inc. (NASDAQ:HPK) reached a new 52-week low on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $6.10 and last traded at $6.2250, with a volume of 11058 shares trading hands. The stock had previously closed at $6.20.

The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.23). HighPeak Energy had a return on equity of 4.23% and a net margin of 6.03%.The company had revenue of $188.86 million for the quarter, compared to analysts’ expectations of $224.48 million. During the same quarter in the prior year, the company earned $0.35 EPS. The company’s revenue was down 30.5% on a year-over-year basis.

HighPeak Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 1st will be paid a $0.04 dividend. The ex-dividend date is Monday, December 1st. This represents a $0.16 annualized dividend and a yield of 2.7%. HighPeak Energy’s dividend payout ratio (DPR) is currently 44.44%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Cornerstone Investment Partners LLC bought a new stake in HighPeak Energy during the first quarter valued at approximately $168,000. Denali Advisors LLC increased its holdings in shares of HighPeak Energy by 3.0% in the 1st quarter. Denali Advisors LLC now owns 471,548 shares of the company’s stock worth $5,970,000 after buying an additional 13,719 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of HighPeak Energy during the 1st quarter valued at $159,000. GSA Capital Partners LLP lifted its holdings in shares of HighPeak Energy by 42.3% during the 1st quarter. GSA Capital Partners LLP now owns 167,864 shares of the company’s stock worth $2,125,000 after acquiring an additional 49,867 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of HighPeak Energy by 10.0% during the 1st quarter. Vanguard Group Inc. now owns 2,375,805 shares of the company’s stock worth $30,078,000 after acquiring an additional 216,954 shares during the last quarter. 24.13% of the stock is currently owned by institutional investors.

HighPeak Energy Price Performance

The company has a market capitalization of $735.34 million, a PE ratio of 16.19 and a beta of 1.09. The company has a quick ratio of 0.82, a current ratio of 0.87 and a debt-to-equity ratio of 0.62. The firm’s 50-day moving average is $6.98 and its 200-day moving average is $8.56.

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.