HighPeak Energy (NASDAQ:HPK) Shares Down 4.8% on Analyst Downgrade

HighPeak Energy, Inc. (NASDAQ:HPK)’s share price fell 4.8% on Monday after Truist Financial lowered their price target on the stock from $14.00 to $12.00. Truist Financial currently has a hold rating on the stock. HighPeak Energy traded as low as $13.85 and last traded at $13.88. 331,291 shares traded hands during trading, a decline of 0% from the average session volume of 332,434 shares. The stock had previously closed at $14.58.

Insider Transactions at HighPeak Energy

In related news, CEO Jack Hightower acquired 17,743 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was acquired at an average price of $15.50 per share, with a total value of $275,016.50. Following the purchase, the chief executive officer now directly owns 4,805,350 shares in the company, valued at $74,482,925. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders bought 203,821 shares of company stock valued at $3,154,206. Company insiders own 77.50% of the company’s stock.

Hedge Funds Weigh In On HighPeak Energy

Several large investors have recently modified their holdings of HPK. Intrinsic Edge Capital Management LLC acquired a new stake in shares of HighPeak Energy during the fourth quarter worth $3,636,000. Denali Advisors LLC increased its position in shares of HighPeak Energy by 80.2% during the second quarter. Denali Advisors LLC now owns 319,800 shares of the company’s stock worth $4,496,000 after buying an additional 142,300 shares during the period. Interval Partners LP acquired a new stake in shares of HighPeak Energy during the second quarter worth $1,684,000. American Century Companies Inc. increased its position in shares of HighPeak Energy by 26.8% during the second quarter. American Century Companies Inc. now owns 520,698 shares of the company’s stock worth $7,321,000 after buying an additional 110,099 shares during the period. Finally, Wasatch Advisors LP increased its position in shares of HighPeak Energy by 15.6% during the first quarter. Wasatch Advisors LP now owns 521,150 shares of the company’s stock worth $8,219,000 after buying an additional 70,385 shares during the period. Institutional investors own 24.13% of the company’s stock.

HighPeak Energy Stock Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 0.93 and a quick ratio of 0.90. The company’s 50-day moving average price is $15.09 and its two-hundred day moving average price is $15.06. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 11.60 and a beta of 0.68.

HighPeak Energy (NASDAQ:HPK) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.22). The company had revenue of $275.30 million during the quarter, compared to analyst estimates of $282.56 million. HighPeak Energy had a return on equity of 15.99% and a net margin of 14.05%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 earnings per share. On average, equities research analysts anticipate that HighPeak Energy, Inc. will post 1.07 EPS for the current fiscal year.

HighPeak Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 3rd were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Tuesday, September 3rd. HighPeak Energy’s payout ratio is 12.90%.

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.