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

Key Points

• HighPeak Energy shares have reached a new 52-week low at $7.04 during trading, reflecting significant losses as the stock traded down 6.2%.
• Wall Street analysts have downgraded the stock from a "hold" to a "sell" rating, with an average price target of $11.50, indicating negative sentiment around the company's performance.
• The company's quarterly earnings showed disappointing results, with a net margin of 12.59% and a substantial revenue drop of 27.2% year-over-year, falling short of analyst expectations.

Shares of HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report) hit a new 52-week low during trading on Tuesday . The stock traded as low as $7.07 and last traded at $7.04, with a volume of 602534 shares traded. The stock had previously closed at $7.74.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of HighPeak Energy from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $11.50.

HighPeak Energy Stock Up 3.4%

The firm's 50 day simple moving average is $9.29 and its 200 day simple moving average is $10.39. The company has a market cap of $969.48 million, a price-to-earnings ratio of 8.94 and a beta of 1.06. The company has a quick ratio of 0.82, a current ratio of 0.87 and a debt-to-equity ratio of 0.62.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.01). The business had revenue of $200.40 million during the quarter, compared to the consensus estimate of $210.87 million. HighPeak Energy had a return on equity of 7.10% and a net margin of 12.59%.HighPeak Energy's revenue was down 27.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 earnings per share. Sell-side analysts anticipate that HighPeak Energy, Inc. will post 0.78 EPS for the current fiscal year.

HighPeak Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.04 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.1%. HighPeak Energy's payout ratio is currently 18.60%.

Hedge Funds Weigh In On HighPeak Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in HighPeak Energy by 867.0% during the fourth quarter. JPMorgan Chase & Co. now owns 65,121 shares of the company's stock valued at $957,000 after buying an additional 58,387 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in HighPeak Energy by 5.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 29,829 shares of the company's stock worth $438,000 after buying an additional 1,608 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in shares of HighPeak Energy by 30.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 51,442 shares of the company's stock valued at $756,000 after purchasing an additional 11,870 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of HighPeak Energy by 32.2% during the 4th quarter. Two Sigma Investments LP now owns 58,877 shares of the company's stock valued at $865,000 after purchasing an additional 14,329 shares in the last quarter. Finally, GSA Capital Partners LLP raised its holdings in shares of HighPeak Energy by 42.3% during the 1st quarter. GSA Capital Partners LLP now owns 167,864 shares of the company's stock valued at $2,125,000 after purchasing an additional 49,867 shares in the last quarter. 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.