Rhumbline Advisers Lowers Position in HighPeak Energy, Inc. (NASDAQ:HPK)

Rhumbline Advisers cut its stake in shares of HighPeak Energy, Inc. (NASDAQ:HPK - Free Report) by 60.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of HPK. Charles Schwab Investment Management Inc. increased 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in HighPeak Energy by 5.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 29,829 shares of the company's stock worth $438,000 after purchasing an additional 1,608 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in HighPeak Energy in the fourth quarter worth $26,000. Wells Fargo & Company MN raised its holdings in HighPeak Energy by 25.4% during the 4th quarter. Wells Fargo & Company MN now owns 9,180 shares of the company's stock valued at $135,000 after buying an additional 1,857 shares during the period. Finally, Barclays PLC raised its holdings in HighPeak Energy by 9.4% during the 4th quarter. Barclays PLC now owns 27,242 shares of the company's stock valued at $400,000 after buying an additional 2,331 shares during the period. 24.13% of the stock is currently owned by hedge funds and other institutional investors.

HighPeak Energy Price Performance

Shares of HPK stock opened at $10.09 on Wednesday. HighPeak Energy, Inc. has a 52-week low of $7.82 and a 52-week high of $17.48. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.48 and a current ratio of 0.51. The firm has a market capitalization of $1.27 billion, a P/E ratio of 11.47 and a beta of 1.06. The stock has a 50 day moving average price of $9.89 and a 200 day moving average price of $12.00.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last announced its quarterly 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 firm had revenue of $257.45 million during the quarter, compared to analyst estimates of $255.33 million. HighPeak Energy had a return on equity of 8.79% and a net margin of 12.03%. HighPeak Energy's quarterly revenue was down 10.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.37 earnings per share. As a group, sell-side analysts predict that HighPeak Energy, Inc. will post 0.78 earnings per share for the current year.

HighPeak Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.59%. HighPeak Energy's dividend payout ratio is presently 18.18%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on HPK shares. Truist Financial decreased their price target on HighPeak Energy from $15.00 to $13.00 and set a "hold" rating on the stock in a report 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 price target on the stock.

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.

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