HighPeak Energy (NASDAQ:HPK) Sets New 12-Month Low on Disappointing Earnings

HighPeak Energy, Inc. (NASDAQ:HPK)’s share price hit a new 52-week low on Tuesday after the company announced weaker than expected quarterly earnings. The company traded as low as $11.08 and last traded at $11.08, with a volume of 93894 shares trading hands. The stock had previously closed at $11.81.

The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). The company had revenue of $234.81 million for the quarter, compared to the consensus estimate of $247.32 million. HighPeak Energy had a return on equity of 14.83% and a net margin of 15.94%. The business’s revenue was down 22.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 earnings per share.

HighPeak Energy Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.46%. HighPeak Energy’s dividend payout ratio (DPR) is presently 12.60%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On HighPeak Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets purchased a new stake in HighPeak Energy during the fourth quarter valued at about $26,000. FMR LLC lifted 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 valued at $111,000 after acquiring an additional 7,091 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in HighPeak Energy during the 4th quarter valued at about $112,000. AlphaQuest LLC grew its position in HighPeak Energy by 509.9% during the 4th quarter. AlphaQuest LLC now owns 8,045 shares of the company’s stock worth $118,000 after acquiring an additional 6,726 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in HighPeak Energy by 25.4% in the 4th quarter. Wells Fargo & Company MN now owns 9,180 shares of the company’s stock worth $135,000 after purchasing an additional 1,857 shares during the period. Institutional investors own 24.13% of the company’s stock.

HighPeak Energy Stock Down 7.1 %

The firm has a market capitalization of $1.39 billion, a PE ratio of 8.67 and a beta of 0.76. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 0.59. The stock has a 50 day simple moving average of $13.92 and a 200 day simple moving average of $14.29.

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.