HighPeak Energy (NASDAQ:HPK) Shares Up 3.5% – Still a Buy?

HighPeak Energy, Inc. (NASDAQ:HPK) shares traded up 3.5% during trading on Wednesday . The stock traded as high as $13.07 and last traded at $13.09. 70,520 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 293,040 shares. The stock had previously closed at $12.64.

Wall Street Analyst Weigh In

Separately, Truist Financial cut their price objective on HighPeak Energy from $15.00 to $13.00 and set a “hold” rating on the stock in a research report on Thursday, March 13th.

HighPeak Energy Stock Performance

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 company has a market capitalization of $1.61 billion, a PE ratio of 10.03 and a beta of 0.76. The company has a 50 day moving average of $13.26 and a two-hundred day moving average of $14.03.

HighPeak Energy (NASDAQ:HPK) last issued 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 return on equity of 14.83% and a net margin of 15.94%. The business had revenue of $234.81 million during the quarter, compared to the consensus estimate of $247.32 million. During the same quarter in the previous year, the business earned $0.66 earnings per share. The firm’s revenue was down 22.0% compared to the same quarter last year. As a group, equities research analysts predict that HighPeak Energy, Inc. will post 0.78 earnings per share for the current year.

HighPeak Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.16 annualized dividend and a dividend yield of 1.26%. HighPeak Energy’s payout ratio is 23.88%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HPK. BNP Paribas Financial Markets bought a new stake in HighPeak Energy in the fourth quarter worth $26,000. KLP Kapitalforvaltning AS bought a new position in HighPeak Energy in the 4th quarter worth about $112,000. FMR LLC grew its position in HighPeak Energy by 766.6% during the 3rd quarter. FMR LLC now owns 8,016 shares of the company’s stock valued at $111,000 after purchasing an additional 7,091 shares during the last quarter. AlphaQuest LLC raised its holdings in HighPeak Energy by 509.9% in the fourth quarter. AlphaQuest LLC now owns 8,045 shares of the company’s stock worth $118,000 after buying an additional 6,726 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of HighPeak Energy by 25.4% in the fourth quarter. Wells Fargo & Company MN now owns 9,180 shares of the company’s stock worth $135,000 after buying an additional 1,857 shares in the last quarter. Institutional investors own 24.13% of the company’s stock.

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.