HighPeak Energy (NASDAQ:HPK) Reaches New 52-Week Low - Here's What Happened

Key Points

• HighPeak Energy shares reached a new 52-week low at $6.60 during trading, with recent trading volume at 710,577 shares, significantly down from the previous close of $7.09.
• Analysts have issued a consensus rating of "Sell" for HighPeak Energy, with a target price of $11.50, indicating a lack of confidence in the stock's performance.
• The company reported Q2 earnings of $0.10 per share, missing estimates, while revenue also fell 27.2% year-over-year, highlighting ongoing financial challenges.

HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report) shares hit a new 52-week low during trading on Friday . The stock traded as low as $6.60 and last traded at $6.61, with a volume of 710577 shares. The stock had previously closed at $7.09.

Analyst Ratings Changes

Several research firms recently issued reports on HPK. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of HighPeak Energy in a report on Wednesday. Wall Street Zen downgraded shares of HighPeak Energy from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, HighPeak Energy presently has a consensus rating of "Sell" and a consensus price target of $11.50.

HighPeak Energy Stock Down 6.8%

The business's fifty day moving average price is $7.50 and its 200 day moving average price is $9.09. The company has a market capitalization of $833.73 million, a P/E ratio of 7.69 and a beta of 1.21. The company has a current ratio of 0.87, a quick ratio of 0.82 and a debt-to-equity ratio of 0.62.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.01). The business had revenue of $200.40 million for 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.28 earnings per share. As a group, equities research analysts predict that HighPeak Energy, Inc. will post 0.78 earnings per share for the current fiscal year.

HighPeak Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Tuesday, September 2nd were paid a $0.04 dividend. The ex-dividend date of this dividend was 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 currently 18.60%.

Hedge Funds Weigh In On HighPeak Energy

A number of institutional investors have recently modified their holdings of HPK. Raymond James Financial Inc. bought a new position in shares of HighPeak Energy in the second quarter worth about $49,000. Strs Ohio bought a new position in shares of HighPeak Energy in the first quarter worth about $60,000. Arrowstreet Capital Limited Partnership bought a new position in shares of HighPeak Energy in the second quarter worth about $109,000. Exchange Traded Concepts LLC raised its stake in shares of HighPeak Energy by 1,262.5% in the first quarter. Exchange Traded Concepts LLC now owns 9,238 shares of the company's stock worth $117,000 after acquiring an additional 8,560 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of HighPeak Energy in the first quarter worth about $134,000. 24.13% of the stock is owned by institutional investors.

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.

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