HighPeak Energy (NASDAQ:HPK) Shares Gap Down - What's Next?

Shares of HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report) gapped down prior to trading 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.

Analyst Upgrades and Downgrades

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

HighPeak Energy Stock Performance

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 stock has a market cap of $1.47 billion, a price-to-earnings ratio of 11.64 and a beta of 1.06. The stock's fifty day moving average is $9.70 and its 200-day moving average is $12.13.

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 for the quarter, topping analysts' consensus estimates of $0.22 by $0.09. HighPeak Energy had a net margin of 12.03% and a return on equity of 8.79%. The company had revenue of $257.45 million for the quarter, compared to analysts' expectations of $255.33 million. During the same period last year, the firm posted $0.37 earnings per share. The business's quarterly revenue was down 10.6% compared to the same quarter last year. On average, analysts forecast that HighPeak Energy, Inc. will post 0.78 EPS for the current year.

HighPeak Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders 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 annualized dividend and a yield of 1.37%. HighPeak Energy's dividend payout ratio is presently 18.18%.

Institutional Investors Weigh In On HighPeak Energy

Several large investors have recently modified their holdings of the business. Corigliano Investment Advisers LLC bought a new position in HighPeak Energy in the fourth quarter valued at approximately $4,762,000. Vanguard Group Inc. boosted its stake in HighPeak Energy by 10.0% in the 1st quarter. Vanguard Group Inc. now owns 2,375,805 shares of the company's stock worth $30,078,000 after purchasing an additional 216,954 shares during the period. Bank of New York Mellon Corp boosted its stake 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 during the period. American Century Companies Inc. increased its holdings in HighPeak Energy by 13.7% during the 1st quarter. American Century Companies Inc. now owns 812,144 shares of the company's stock worth $10,282,000 after purchasing an additional 98,084 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in HighPeak Energy by 867.0% during the 4th quarter. JPMorgan Chase & Co. now owns 65,121 shares of the company's stock worth $957,000 after purchasing an additional 58,387 shares in the last quarter. 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.