HighPeak Energy (NASDAQ:HPK) Shares Gap Down - Should You Sell?

HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $11.90, but opened at $11.60. HighPeak Energy shares last traded at $11.40, with a volume of 58,584 shares trading hands.

Wall Street Analysts Forecast Growth

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

HighPeak Energy Stock Down 4.5%

The stock has a market capitalization of $1.43 billion, a P/E ratio of 8.92 and a beta of 1.06. The stock has a 50 day moving average price of $9.57 and a 200-day moving average price of $12.16. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.96 and a quick ratio of 0.93.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported $0.31 earnings per share (EPS) for the quarter, topping 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 15.94% and a return on equity of 14.83%. The business's revenue was down 10.6% on a year-over-year basis. During the same quarter last year, the business earned $0.37 earnings per share. As a group, research analysts expect that HighPeak Energy, Inc. will post 0.78 EPS for the current fiscal year.

HighPeak Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Monday, June 2nd will be issued a dividend of $0.04 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.16 dividend on an annualized basis and a yield of 1.41%. HighPeak Energy's dividend payout ratio is presently 18.18%.

Institutional Investors Weigh In On HighPeak Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Rhumbline Advisers raised 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 in the last quarter. Bank of New York Mellon Corp raised 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 worth $6,869,000 after purchasing an additional 164,398 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in HighPeak Energy in the 4th quarter worth $463,000. American Century Companies Inc. lifted its position in shares of HighPeak Energy by 11.2% in the 4th quarter. American Century Companies Inc. now owns 714,060 shares of the company's stock worth $10,497,000 after purchasing an additional 71,802 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of HighPeak Energy by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 183,719 shares of the company's stock valued at $2,701,000 after purchasing an additional 1,445 shares in the last quarter. Hedge funds and other institutional investors own 24.13% of the company's 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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