HighPeak Energy (NASDAQ:HPK) Reaches New 1-Year Low - Here's Why

Key Points

• HighPeak Energy reached a 52-week low of $6.96 during trading, closing at $6.99, reflecting a drop as Wall Street analysts downgraded the stock from "hold" to "sell."
• The company reported $0.10 EPS for the last quarter, falling short of expectations, and experienced a 27.2% decrease in revenue year-over-year, totaling $200.40 million.
• HighPeak Energy declared a quarterly dividend of $0.04 per share, yielding 2.4% annually, with a payout ratio of 18.60%.

Shares of HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report) hit a new 52-week low on Friday . The company traded as low as $6.96 and last traded at $6.99, with a volume of 118416 shares trading hands. The stock had previously closed at $7.06.

Analyst Ratings Changes

Separately, Wall Street Zen lowered HighPeak Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, HighPeak Energy has a consensus rating of "Reduce" and an average target price of $11.50.

HighPeak Energy Price Performance

The firm has a market cap of $850.13 million, a PE ratio of 7.84 and a beta of 1.24. The company has a quick ratio of 0.82, a current ratio of 0.87 and a debt-to-equity ratio of 0.62. The stock has a 50 day moving average price of $8.07 and a two-hundred day moving average price of $9.52.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last released its earnings results on Monday, August 11th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.01). HighPeak Energy had a return on equity of 7.10% and a net margin of 12.59%.The firm had revenue of $200.40 million for the quarter, compared to analyst estimates of $210.87 million. During the same period last year, the firm earned $0.28 EPS. The company's revenue for the quarter was down 27.2% compared to the same quarter last year. As a group, equities analysts expect that HighPeak Energy, Inc. will post 0.78 earnings per share for the current year.

HighPeak Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.4%. HighPeak Energy's payout ratio is 18.60%.

Institutional Investors Weigh In On HighPeak Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of HighPeak Energy by 10.0% during the first quarter. Vanguard Group Inc. now owns 2,375,805 shares of the company's stock worth $30,078,000 after purchasing an additional 216,954 shares during the period. American Century Companies Inc. lifted its holdings in HighPeak Energy by 8.9% in the second quarter. American Century Companies Inc. now owns 884,695 shares of the company's stock valued at $8,670,000 after acquiring an additional 72,551 shares during the period. Geode Capital Management LLC lifted its holdings in HighPeak Energy by 12.4% in the second quarter. Geode Capital Management LLC now owns 640,028 shares of the company's stock valued at $6,273,000 after acquiring an additional 70,590 shares during the period. Denali Advisors LLC lifted its holdings in HighPeak Energy by 10.8% in the second quarter. Denali Advisors LLC now owns 522,525 shares of the company's stock valued at $5,121,000 after acquiring an additional 50,977 shares during the period. Finally, Creative Financial Designs Inc. ADV lifted its holdings in HighPeak Energy by 54.9% in the second quarter. Creative Financial Designs Inc. ADV now owns 461,757 shares of the company's stock valued at $4,525,000 after acquiring an additional 163,720 shares during the period. Institutional investors and hedge funds 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.