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

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

Analyst Upgrades and Downgrades

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

HighPeak Energy Stock Performance

The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 9.16 and a beta of 1.04. The stock has a fifty day moving average price of $10.19 and a two-hundred day moving average price of $11.39. The company has a quick ratio of 0.48, a current ratio of 0.51 and a debt-to-equity ratio of 0.55.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last released its earnings results 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 return on equity of 8.79% and a net margin of 12.03%. The firm had revenue of $257.45 million during the quarter, compared to analyst estimates of $255.33 million. During the same period in the prior 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. As a group, analysts forecast 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 was paid on Wednesday, June 25th. Investors of record on Monday, June 2nd were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Monday, June 2nd. HighPeak Energy's dividend payout ratio is currently 18.18%.

Institutional Trading of HighPeak Energy

A number of institutional investors and hedge funds have recently made changes to their positions in HPK. BNP Paribas Financial Markets bought a new position in HighPeak Energy in the 4th quarter worth approximately $26,000. Strs Ohio bought a new position in HighPeak Energy during the 1st quarter valued at $60,000. KLP Kapitalforvaltning AS bought a new position in HighPeak Energy during the 4th quarter valued at $112,000. Wells Fargo & Company MN boosted its stake in 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 purchasing an additional 1,857 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in HighPeak Energy by 1,262.5% during 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 and hedge funds.

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.