HighPeak Energy (NASDAQ:HPK) Shares Up 4.3% – Here’s What Happened

HighPeak Energy, Inc. (NASDAQ:HPK)’s stock price shot up 4.3% during trading on Wednesday . The stock traded as high as $9.09 and last traded at $8.92. 13,931 shares were traded during mid-day trading, a decline of 95% from the average session volume of 300,636 shares. The stock had previously closed at $8.55.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on HPK shares. Bank of America initiated coverage on HighPeak Energy in a research report on Monday, April 7th. They issued an “underperform” rating and a $10.00 target price for the company. Truist Financial dropped their price objective 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.

HighPeak Energy Stock Performance

The firm has a market capitalization of $1.14 billion, a PE ratio of 7.10 and a beta of 0.82. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.96 and a quick ratio of 0.93. The stock has a 50-day moving average price of $12.04 and a 200-day moving average price of $13.55.

HighPeak Energy (NASDAQ:HPK) last released its quarterly earnings results on Monday, March 10th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). HighPeak Energy had a return on equity of 14.83% and a net margin of 15.94%. The company had revenue of $234.81 million for the quarter, compared to analyst estimates of $247.32 million. During the same period in the previous year, the business posted $0.66 EPS. The firm’s quarterly revenue was down 22.0% compared to the same quarter last year. On average, research analysts expect that HighPeak Energy, Inc. will post 0.78 EPS for the current fiscal year.

HighPeak Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 3rd were issued a $0.04 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.77%. HighPeak Energy’s dividend payout ratio (DPR) is 23.88%.

Hedge Funds Weigh In On HighPeak Energy

Several institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in HighPeak Energy by 17.3% during the 3rd quarter. Geode Capital Management LLC now owns 563,822 shares of the company’s stock worth $7,827,000 after buying an additional 82,988 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of HighPeak Energy by 151.8% during the fourth quarter. Rhumbline Advisers now owns 52,352 shares of the company’s stock valued at $770,000 after acquiring an additional 31,558 shares during the period. State Street Corp grew its position in shares of HighPeak Energy by 135.1% during the third quarter. State Street Corp now owns 707,425 shares of the company’s stock worth $9,819,000 after acquiring an additional 406,536 shares during the last quarter. Barclays PLC increased its holdings in shares of HighPeak Energy by 346.6% in the 3rd quarter. Barclays PLC now owns 24,911 shares of the company’s stock worth $346,000 after acquiring an additional 19,333 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in HighPeak Energy by 54.3% during the 4th quarter. Bank of New York Mellon Corp now owns 467,294 shares of the company’s stock valued at $6,869,000 after purchasing an additional 164,398 shares during the period. 24.13% of the stock is owned by institutional investors.

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.