HighPeak Energy (NASDAQ:HPK) Shares Down 4.8% on Analyst Downgrade

HighPeak Energy, Inc. (NASDAQ:HPK)’s share price was down 4.8% on Monday after Truist Financial lowered their price target on the stock from $14.00 to $12.00. Truist Financial currently has a hold rating on the stock. HighPeak Energy traded as low as $13.85 and last traded at $13.88. Approximately 331,291 shares changed hands during mid-day trading, a decline of 0% from the average daily volume of 332,434 shares. The stock had previously closed at $14.58.

Insider Buying and Selling

In other news, CEO Jack Hightower bought 100,000 shares of the company’s stock in a transaction on Friday, September 20th. The stock was purchased at an average cost of $15.54 per share, for a total transaction of $1,554,000.00. Following the completion of the transaction, the chief executive officer now owns 4,959,255 shares of the company’s stock, valued at $77,066,822.70. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders have acquired 203,821 shares of company stock valued at $3,154,206. 77.50% of the stock is owned by insiders.

Hedge Funds Weigh In On HighPeak Energy

A number of large investors have recently modified their holdings of the company. Intrinsic Edge Capital Management LLC bought a new stake in shares of HighPeak Energy during the 4th quarter valued at $3,636,000. Wasatch Advisors LP grew its stake in shares of HighPeak Energy by 4.7% in the 4th quarter. Wasatch Advisors LP now owns 450,765 shares of the company’s stock worth $6,419,000 after buying an additional 20,087 shares during the last quarter. Register Financial Advisors LLC boosted its stake in HighPeak Energy by 16.2% during the 1st quarter. Register Financial Advisors LLC now owns 43,000 shares of the company’s stock valued at $678,000 after purchasing an additional 6,000 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of HighPeak Energy by 29.7% in the 1st quarter. GSA Capital Partners LLP now owns 127,460 shares of the company’s stock worth $2,010,000 after buying an additional 29,177 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in HighPeak Energy by 49.6% during the first quarter. Empowered Funds LLC now owns 153,164 shares of the company’s stock valued at $2,415,000 after purchasing an additional 50,812 shares in the last quarter. 24.13% of the stock is currently owned by institutional investors.

HighPeak Energy Trading Down 4.9 %

The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $1.77 billion, a PE ratio of 11.69 and a beta of 0.68. The stock’s 50 day moving average price is $15.19 and its 200-day moving average price is $15.07.

HighPeak Energy (NASDAQ:HPK) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.22). HighPeak Energy had a return on equity of 15.99% and a net margin of 14.05%. The company had revenue of $275.30 million during the quarter, compared to the consensus estimate of $282.56 million. During the same quarter in the prior year, the business earned $0.28 earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, sell-side analysts expect that HighPeak Energy, Inc. will post 1.07 earnings per share for the current fiscal year.

HighPeak Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 3rd were paid a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.16 annualized dividend and a yield of 1.15%. HighPeak Energy’s dividend payout ratio (DPR) is presently 12.90%.

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.