HighPeak Energy (NASDAQ:HPK) Stock Price Down 8.7% - Time to Sell?

Key Points

• HighPeak Energy's stock price fell by 8.7% to $9.11, with trading volume significantly declining to 114,661 shares, which is a 64% drop from its average daily volume.
• Analysts from Bank of America have initiated coverage with an "underperform" rating and set a target price of $10.00 for the company.
• The company reported earnings of $0.31 per share, exceeding estimates, but noted a 10.6% decline in revenues compared to the previous year.

Shares of HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report) traded down 8.7% on Friday . The company traded as low as $9.06 and last traded at $9.11. 114,661 shares were traded during mid-day trading, a decline of 64% from the average session volume of 322,504 shares. The stock had previously closed at $9.97.

Wall Street Analysts Forecast Growth

Separately, Bank of America assumed coverage on HighPeak Energy in a research note on Monday, April 7th. They issued an "underperform" rating and a $10.00 price objective on the stock.

HighPeak Energy Price Performance

The stock has a 50 day moving average of $10.11 and a two-hundred day moving average of $10.98. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.48 and a current ratio of 0.51. The firm has a market capitalization of $1.07 billion, a P/E ratio of 9.69 and a beta of 1.06.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last released its earnings results on Monday, May 12th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.09. The firm had revenue of $257.45 million for the quarter, compared to analyst estimates of $255.33 million. HighPeak Energy had a return on equity of 8.79% and a net margin of 12.03%. The company's revenue was down 10.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 EPS. Sell-side analysts predict that HighPeak Energy, Inc. will post 0.78 earnings per share for the current fiscal year.

HighPeak Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, June 2nd. HighPeak Energy's dividend payout ratio (DPR) is presently 18.18%.

Institutional Trading of HighPeak Energy

Several institutional investors have recently modified their holdings of the company. Corigliano Investment Advisers LLC bought a new position in HighPeak Energy in the 4th quarter valued at $4,762,000. Vanguard Group Inc. raised its position 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 acquiring an additional 216,954 shares during the last quarter. Creative Financial Designs Inc. ADV grew its stake in shares of HighPeak Energy by 54.9% during the second quarter. Creative Financial Designs Inc. ADV now owns 461,757 shares of the company's stock worth $4,525,000 after purchasing an additional 163,720 shares during the period. American Century Companies Inc. grew its stake in shares of HighPeak Energy by 13.7% during the first quarter. American Century Companies Inc. now owns 812,144 shares of the company's stock worth $10,282,000 after purchasing an additional 98,084 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of HighPeak Energy by 867.0% during the fourth quarter. JPMorgan Chase & Co. now owns 65,121 shares of the company's stock worth $957,000 after purchasing an additional 58,387 shares during the period. Institutional investors and hedge funds own 24.13% of the company's stock.

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.