HighPeak Energy (NASDAQ:HPK) Shares Down 6.8% - Here's Why

Shares of HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report) traded down 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

A number of equities research analysts recently weighed in on HPK shares. Bank of America assumed coverage on HighPeak Energy in a report on Monday, April 7th. They issued an "underperform" rating and a $10.00 price target on the stock. Truist Financial dropped their price objective on HighPeak Energy from $15.00 to $13.00 and set a "hold" rating for the company in a report on Thursday, March 13th.

HighPeak Energy Stock Performance

The firm 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 quick ratio of 0.48, a current ratio of 0.51 and a debt-to-equity ratio of 0.55. The company has a 50 day moving average of $9.82 and a 200 day moving average of $12.04.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.09. The firm had revenue of $257.45 million for 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 firm's quarterly revenue was down 10.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 earnings per share. As a group, equities research analysts expect that HighPeak Energy, Inc. will post 0.78 EPS for the current fiscal year.

HighPeak Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Monday, June 2nd will be issued a $0.04 dividend. 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 1.54%. HighPeak Energy's dividend payout ratio (DPR) is 18.18%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. BNP Paribas Financial Markets acquired a new stake in HighPeak Energy in the fourth quarter worth $26,000. Strs Ohio acquired a new position in shares of HighPeak Energy during the first quarter valued at $60,000. KLP Kapitalforvaltning AS bought a new position in shares of HighPeak Energy during the fourth quarter worth about $112,000. AlphaQuest LLC increased its holdings in shares of HighPeak Energy by 509.9% in the 4th quarter. AlphaQuest LLC now owns 8,045 shares of the company's stock worth $118,000 after acquiring an additional 6,726 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of HighPeak Energy by 25.4% in the 4th quarter. Wells Fargo & Company MN now owns 9,180 shares of the company's stock worth $135,000 after acquiring an additional 1,857 shares during the period. 24.13% of the stock is currently 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.

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