Rhumbline Advisers Sells 31,733 Shares of HighPeak Energy, Inc. (NASDAQ:HPK)

Rhumbline Advisers trimmed its holdings in HighPeak Energy, Inc. (NASDAQ:HPK - Free Report) by 60.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,619 shares of the company's stock after selling 31,733 shares during the period. Rhumbline Advisers' holdings in HighPeak Energy were worth $261,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. New York State Common Retirement Fund lifted its holdings in shares of HighPeak Energy by 11.6% in the fourth quarter. New York State Common Retirement Fund now owns 147,302 shares of the company's stock worth $2,165,000 after buying an additional 15,300 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in HighPeak Energy by 54.3% in 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 acquiring an additional 164,398 shares during the last quarter. Denali Advisors LLC lifted its stake in HighPeak Energy by 9.5% in the 4th quarter. Denali Advisors LLC now owns 457,829 shares of the company's stock worth $6,730,000 after purchasing an additional 39,783 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in HighPeak Energy by 0.8% in the 4th 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 in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of HighPeak Energy during the 4th quarter valued at about $148,000. Institutional investors own 24.13% of the company's stock.

HighPeak Energy Price Performance

HPK traded down $0.12 during trading hours on Friday, hitting $9.92. The company's stock had a trading volume of 823,847 shares, compared to its average volume of 306,810. The business's 50-day moving average price is $9.92 and its 200-day moving average price is $11.91. HighPeak Energy, Inc. has a 12 month low of $7.82 and a 12 month high of $17.48. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 11.27 and a beta of 1.06. The company has a current ratio of 0.51, a quick ratio of 0.48 and a debt-to-equity ratio of 0.55.

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

HighPeak Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Monday, June 2nd were given a $0.04 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.16 annualized dividend and a yield of 1.61%. HighPeak Energy's dividend payout ratio is currently 18.18%.

Analyst Upgrades and Downgrades

HPK has been the topic of several research reports. Bank of America assumed coverage on HighPeak Energy in a report on Monday, April 7th. They issued an "underperform" rating and a $10.00 target price on the stock. Truist Financial cut their price target on HighPeak Energy from $15.00 to $13.00 and set a "hold" rating for the company in a report on Thursday, March 13th.

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.