HighPeak Energy (NASDAQ:HPK) Shares Gap Up - Here's Why

HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $11.33, but opened at $11.89. HighPeak Energy shares last traded at $11.73, with a volume of 63,762 shares trading hands.

Analysts Set New Price Targets

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

HighPeak Energy Stock Performance

The stock has a market capitalization of $1.50 billion, a PE ratio of 9.37 and a beta of 1.06. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.96 and a quick ratio of 0.93. The business's fifty day moving average price is $9.49 and its 200-day moving average price is $12.22.

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, beating the consensus estimate 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 15.94% and a return on equity of 14.83%. The firm's revenue for the quarter was down 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.37 EPS. As a group, equities research analysts expect that HighPeak Energy, Inc. will post 0.78 EPS for the current year.

HighPeak Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Monday, June 2nd will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Monday, June 2nd. HighPeak Energy's payout ratio is 18.18%.

Hedge Funds Weigh In On HighPeak Energy

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

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.