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

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

Analysts Set New Price Targets

Separately, 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 report on Thursday, March 13th.

HighPeak Energy Trading Down 0.4 %

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 market capitalization of $1.61 billion, a PE ratio of 10.03 and a beta of 0.76. The stock has a 50 day moving average price of $13.26 and a 200-day moving average price of $14.03.

HighPeak Energy (NASDAQ:HPK) last announced its 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 firm had revenue of $234.81 million during the quarter, compared to analysts’ expectations of $247.32 million. During the same period in the previous year, the business posted $0.66 earnings per share. The company’s revenue for the quarter was down 22.0% on a year-over-year basis. Sell-side analysts expect 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. Investors of record on Monday, March 3rd were given a dividend of $0.04 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.16 annualized dividend and a yield of 1.26%. HighPeak Energy’s dividend payout ratio (DPR) is 23.88%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its stake in shares of HighPeak Energy by 17.3% in the 3rd quarter. Geode Capital Management LLC now owns 563,822 shares of the company’s stock worth $7,827,000 after purchasing an additional 82,988 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in 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 during the period. Rhumbline Advisers increased its position in HighPeak Energy by 151.8% in the fourth quarter. Rhumbline Advisers now owns 52,352 shares of the company’s stock worth $770,000 after buying an additional 31,558 shares in the last quarter. State Street Corp raised its stake in shares of HighPeak Energy by 135.1% in the third quarter. State Street Corp now owns 707,425 shares of the company’s stock worth $9,819,000 after buying an additional 406,536 shares during the period. Finally, Barclays PLC raised its stake in shares of HighPeak Energy by 346.6% in the third quarter. Barclays PLC now owns 24,911 shares of the company’s stock worth $346,000 after buying an additional 19,333 shares during the period. 24.13% of the stock is currently owned by institutional investors.

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.