HighPeak Energy (NASDAQ:HPK) Trading 10.9% Higher – Time to Buy?

HighPeak Energy, Inc. (NASDAQ:HPK)’s share price shot up 10.9% during mid-day trading on Tuesday . The stock traded as high as $4.32 and last traded at $4.38. 639,159 shares were traded during mid-day trading, a decline of 32% from the average session volume of 944,191 shares. The stock had previously closed at $3.95.

Wall Street Analyst Weigh In

HPK has been the topic of several recent research reports. Wall Street Zen downgraded shares of HighPeak Energy from a “hold” rating to a “sell” rating in a research report on Sunday, October 26th. Weiss Ratings reiterated a “sell (d+)” rating on shares of HighPeak Energy in a report on Monday, December 29th. Finally, Roth Mkm began coverage on shares of HighPeak Energy in a research note on Monday, October 13th. They issued a “buy” rating and a $12.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, HighPeak Energy presently has an average rating of “Hold” and a consensus price target of $11.67.

HighPeak Energy Stock Performance

The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.58 and a current ratio of 1.65. The stock’s 50 day moving average price is $4.95 and its 200 day moving average price is $6.54. The company has a market capitalization of $573.95 million, a P/E ratio of 12.69 and a beta of 0.65.

HighPeak Energy (NASDAQ:HPK) last announced its earnings results on Wednesday, November 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.23). The firm had revenue of $188.86 million for the quarter, compared to the consensus estimate of $224.48 million. HighPeak Energy had a return on equity of 4.23% and a net margin of 6.03%.HighPeak Energy’s quarterly revenue was down 30.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.35 EPS. As a group, equities analysts expect that HighPeak Energy, Inc. will post 0.78 EPS for the current year.

HighPeak Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Monday, December 1st were given a dividend of $0.04 per share. The ex-dividend date was Monday, December 1st. This represents a $0.16 annualized dividend and a dividend yield of 3.5%. HighPeak Energy’s dividend payout ratio is presently 44.44%.

Institutional Investors Weigh In On HighPeak Energy

A number of hedge funds have recently added to or reduced their stakes in HPK. Empowered Funds LLC boosted its holdings in shares of HighPeak Energy by 1.9% during the 1st quarter. Empowered Funds LLC now owns 186,174 shares of the company’s stock worth $2,357,000 after buying an additional 3,431 shares in the last quarter. Jane Street Group LLC lifted its position in shares of HighPeak Energy by 79.6% during the 1st quarter. Jane Street Group LLC now owns 20,368 shares of the company’s stock valued at $258,000 after acquiring an additional 9,029 shares during the period. Strs Ohio bought a new position in HighPeak Energy during the first quarter worth $60,000. Tweedy Browne Co LLC grew its holdings in HighPeak Energy by 118.9% in the second quarter. Tweedy Browne Co LLC now owns 24,872 shares of the company’s stock worth $244,000 after purchasing an additional 13,509 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in HighPeak Energy in the second quarter valued at $330,000. 24.13% of the stock is currently owned by institutional investors.

About HighPeak Energy

HighPeak Energy, Inc (NASDAQ: HPK) is a Delaware‐incorporated independent oil and natural gas exploration and production company. The firm focuses on the acquisition, development and exploitation of onshore petroleum assets in the continental United States. Its operations encompass the full upstream value chain, including exploration, drilling, completion and production activities aimed at maximizing hydrocarbon recovery and operational efficiency.

The company’s primary business activities include identifying and acquiring conventional and unconventional oil and gas properties, applying advanced drilling and completion technologies, and managing midstream logistics to optimize product flow.