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

HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report) shares gapped up before the market opened 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 traded.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on HPK shares. Bank of America began coverage on HighPeak Energy in a research note on Monday, April 7th. They set an "underperform" rating and a $10.00 target price for the company. Truist Financial lowered their price target 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 Trading Down 4.7%

The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 8.93 and a beta of 1.06. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 0.59. The business's 50 day moving average price is $9.57 and its two-hundred day moving average price is $12.16.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.22 by $0.09. HighPeak Energy had a net margin of 15.94% and a return on equity of 14.83%. The business had revenue of $257.45 million during the quarter, compared to the consensus estimate of $255.33 million. During the same quarter in the prior year, the firm earned $0.37 EPS. The firm's revenue was down 10.6% compared to the same quarter last year. On average, equities analysts predict that HighPeak Energy, Inc. will post 0.78 earnings per share for the current fiscal year.

HighPeak Energy Announces Dividend

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 paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Monday, June 2nd. HighPeak Energy's payout ratio is 18.18%.

Institutional Investors Weigh In On HighPeak Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of HPK. Rhumbline Advisers boosted its stake 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 purchasing an additional 31,558 shares in the last quarter. New York State Common Retirement Fund raised its holdings in HighPeak Energy by 11.6% in the 4th quarter. New York State Common Retirement Fund now owns 147,302 shares of the company's stock valued at $2,165,000 after buying an additional 15,300 shares during the last quarter. Bank of New York Mellon Corp boosted its position in HighPeak Energy by 54.3% during the 4th quarter. Bank of New York Mellon Corp now owns 467,294 shares of the company's stock worth $6,869,000 after buying an additional 164,398 shares during the period. Denali Advisors LLC grew its holdings in HighPeak Energy by 9.5% during the 4th quarter. Denali Advisors LLC now owns 457,829 shares of the company's stock worth $6,730,000 after acquiring an additional 39,783 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in HighPeak Energy by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 183,719 shares of the company's stock worth $2,701,000 after acquiring an additional 1,445 shares during 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.