HighPeak Energy (NASDAQ:HPK) Trading Down 14% – Here’s What Happened

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

Analyst Ratings Changes

Several equities analysts have commented on the stock. Truist Financial dropped their target price on shares of HighPeak Energy from $15.00 to $13.00 and set a “hold” rating on the stock in a research report on Thursday, March 13th. Bank of America initiated coverage on HighPeak Energy in a research note on Monday. They issued an “underperform” rating and a $10.00 price objective for the company.

HighPeak Energy Stock Down 8.2 %

The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 0.59. The stock has a 50-day simple moving average of $12.96 and a two-hundred day simple moving average of $13.93. The firm has a market cap of $1.12 billion, a PE ratio of 7.01 and a beta of 0.82.

HighPeak Energy (NASDAQ:HPK) last posted its quarterly earnings results on Monday, March 10th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.07). HighPeak Energy had a net margin of 15.94% and a return on equity of 14.83%. The business had revenue of $234.81 million for the quarter, compared to analysts’ expectations of $247.32 million. During the same quarter in the previous year, the company earned $0.66 earnings per share. The business’s quarterly revenue was down 22.0% on a year-over-year basis. Analysts expect that HighPeak Energy, Inc. will post 0.78 earnings per share for the current year.

HighPeak Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 3rd were issued a dividend of $0.04 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.80%. HighPeak Energy’s dividend payout ratio is presently 23.88%.

Institutional Trading of HighPeak Energy

Large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in shares of HighPeak Energy by 24.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 182,274 shares of the company’s stock valued at $2,530,000 after purchasing an additional 35,483 shares in the last quarter. FMR LLC grew its stake in shares of HighPeak Energy by 766.6% in the 3rd quarter. FMR LLC now owns 8,016 shares of the company’s stock worth $111,000 after buying an additional 7,091 shares during the last quarter. State Street Corp increased 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 valued at $9,819,000 after buying an additional 406,536 shares in the last quarter. Barclays PLC raised its stake in HighPeak Energy by 346.6% during the third quarter. Barclays PLC now owns 24,911 shares of the company’s stock valued at $346,000 after buying an additional 19,333 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in HighPeak Energy by 17.3% in the third quarter. Geode Capital Management LLC now owns 563,822 shares of the company’s stock worth $7,827,000 after acquiring an additional 82,988 shares in the last quarter. 24.13% of the stock is owned by institutional investors.

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.