HighPeak Energy (NASDAQ:HPK) Shares Up 4.5% – What’s Next?

HighPeak Energy, Inc. (NASDAQ:HPK)’s share price traded up 4.5% during trading on Thursday . The stock traded as high as $6.07 and last traded at $5.9560. 450,892 shares changed hands during trading, an increase of 17% from the average session volume of 384,905 shares. The stock had previously closed at $5.70.

Wall Street Analyst Weigh In

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

HighPeak Energy Stock Up 3.9%

The company has a fifty day simple moving average of $6.63 and a 200 day simple moving average of $8.33. The firm has a market capitalization of $774.87 million, a P/E ratio of 17.14 and a beta of 1.09. The company has a quick ratio of 1.58, a current ratio of 1.65 and a debt-to-equity ratio of 0.71.

HighPeak Energy (NASDAQ:HPK) last issued its earnings results on Wednesday, November 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.23). HighPeak Energy had a net margin of 6.03% and a return on equity of 4.23%. The business 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 business posted $0.35 earnings per share. The business’s revenue for the quarter was down 30.5% on a year-over-year basis. On average, equities analysts expect that HighPeak Energy, Inc. will post 0.78 EPS for the current fiscal year.

HighPeak Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Monday, December 1st will be issued a $0.04 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.16 annualized dividend and a dividend yield of 2.6%. HighPeak Energy’s payout ratio is presently 44.44%.

Hedge Funds Weigh In On HighPeak Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue purchased a new stake in HighPeak Energy during the third quarter valued at approximately $31,000. Strs Ohio purchased a new stake in shares of HighPeak Energy in the 1st quarter worth $60,000. Raymond James Financial Inc. bought a new position in HighPeak Energy in the 2nd quarter worth $49,000. OMERS ADMINISTRATION Corp purchased a new position in HighPeak Energy during the first quarter valued at $134,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in HighPeak Energy during the second quarter valued at about $109,000. Hedge funds and other 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.