HighPeak Energy (NASDAQ:HPK) Trading 0.6% Higher - Still a Buy?

Shares of HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report) traded up 0.6% during mid-day trading on Thursday . The stock traded as high as $8.49 and last traded at $8.35. 501,710 shares traded hands during trading, an increase of 62% from the average session volume of 309,222 shares. The stock had previously closed at $8.30.

Analyst Ratings Changes

Separately, Bank of America assumed coverage on shares of HighPeak Energy in a research report on Monday, April 7th. They issued an "underperform" rating and a $10.00 target price on the stock.

HighPeak Energy Trading Up 0.6%

The stock has a market capitalization of $1.05 billion, a PE ratio of 9.49 and a beta of 1.04. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.51 and a quick ratio of 0.48. The stock's 50 day simple moving average is $10.20 and its two-hundred day simple moving average is $11.49.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.09. The firm had revenue of $257.45 million for the quarter, compared to analyst estimates of $255.33 million. HighPeak Energy had a net margin of 12.03% and a return on equity of 8.79%. The business'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 firm earned $0.37 EPS. On average, sell-side analysts expect that HighPeak Energy, Inc. will post 0.78 EPS for the current year.

HighPeak Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Monday, June 2nd were paid a $0.04 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.16 annualized dividend and a dividend yield of 1.92%. HighPeak Energy's payout ratio is 18.18%.

Institutional Trading of HighPeak Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new position in HighPeak Energy during the fourth quarter valued at approximately $26,000. Strs Ohio acquired a new position in HighPeak Energy in the 1st quarter worth approximately $60,000. KLP Kapitalforvaltning AS acquired a new position in HighPeak Energy in the 4th quarter worth approximately $112,000. Wells Fargo & Company MN lifted its position in shares of HighPeak Energy by 25.4% during the 4th quarter. Wells Fargo & Company MN now owns 9,180 shares of the company's stock valued at $135,000 after buying an additional 1,857 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in HighPeak Energy by 1,262.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 9,238 shares of the company's stock valued at $117,000 after purchasing an additional 8,560 shares in the last quarter. 24.13% of the stock is currently owned by institutional investors.

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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