HighPeak Energy (NASDAQ:HPK) Shares Down 6.8% – Here’s What Happened

Shares of HighPeak Energy, Inc. (NASDAQ:HPK) fell 6.8% during trading on Monday . The stock traded as low as $10.88 and last traded at $10.71. 111,179 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 305,320 shares. The stock had previously closed at $11.48.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on HPK shares. Truist Financial dropped their price target on shares of HighPeak Energy from $15.00 to $13.00 and set a “hold” rating on the stock in a research note on Thursday, March 13th. Bank of America started coverage on HighPeak Energy in a report on Monday, April 7th. They set an “underperform” rating and a $10.00 target price on the stock.

HighPeak Energy Stock Performance

The company has a market cap of $1.31 billion, a price-to-earnings ratio of 11.83 and a beta of 1.06. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.51 and a quick ratio of 0.48. The firm has a fifty day simple moving average of $9.82 and a 200 day simple moving average of $12.04.

HighPeak Energy (NASDAQ:HPK) last posted 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 business had revenue of $257.45 million for the quarter, compared to analyst estimates of $255.33 million. HighPeak Energy had a net margin of 12.03% and a return on equity of 8.79%. HighPeak Energy’s revenue was down 10.6% compared to the same quarter last year. During the same period last year, the business posted $0.37 EPS. On average, sell-side analysts expect that HighPeak Energy, Inc. will post 0.78 earnings per share for the current fiscal year.

HighPeak Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Monday, June 2nd will be paid a dividend of $0.04 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.16 annualized dividend and a yield of 1.54%. HighPeak Energy’s payout ratio is 18.18%.

Institutional Trading of HighPeak Energy

A number of hedge funds have recently bought and sold shares of HPK. Charles Schwab Investment Management Inc. lifted its position in HighPeak Energy by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 183,719 shares of the company’s stock worth $2,701,000 after purchasing an additional 1,445 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of HighPeak Energy by 5.7% during 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 valued at $438,000 after acquiring an additional 1,608 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in HighPeak Energy in the fourth quarter valued at about $26,000. Wells Fargo & Company MN increased its stake in HighPeak Energy by 25.4% in the fourth quarter. Wells Fargo & Company MN now owns 9,180 shares of the company’s stock valued at $135,000 after acquiring an additional 1,857 shares during the period. Finally, Barclays PLC raised its position in HighPeak Energy by 9.4% in the fourth quarter. Barclays PLC now owns 27,242 shares of the company’s stock worth $400,000 after purchasing an additional 2,331 shares in the last quarter. 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.