HighPeak Energy (NASDAQ:HPK) Trading 6.3% Higher - Here's What Happened

HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report) shares traded up 6.3% during mid-day trading on Thursday . The stock traded as high as $9.17 and last traded at $9.31. 299,561 shares changed hands during trading, a decline of 5% from the average session volume of 314,802 shares. The stock had previously closed at $8.75.

Analyst Upgrades and Downgrades

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

HighPeak Energy Stock Up 7.4%

The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 10.68 and a beta of 1.04. The firm's fifty day moving average is $10.08 and its two-hundred day moving average is $11.30. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.51 and a quick ratio of 0.48.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.09. The business had revenue of $257.45 million during the quarter, compared to the consensus estimate of $255.33 million. HighPeak Energy had a net margin of 12.03% and a return on equity of 8.79%. The company's quarterly revenue was down 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.37 earnings per share. On average, sell-side analysts expect 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. Shareholders of record on Monday, June 2nd were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Monday, June 2nd. HighPeak Energy's dividend payout ratio (DPR) is presently 18.18%.

Institutional Investors Weigh In On HighPeak Energy

Several hedge funds and other institutional investors have recently bought and sold shares of HPK. Charles Schwab Investment Management Inc. raised its position in HighPeak Energy by 0.8% in the fourth 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 in the last quarter. Raymond James Financial Inc. acquired a new stake in HighPeak Energy during the 4th quarter worth about $148,000. Intech Investment Management LLC acquired a new stake in HighPeak Energy during the 4th quarter worth about $153,000. American Century Companies Inc. raised its holdings in HighPeak Energy by 11.2% during the 4th quarter. American Century Companies Inc. now owns 714,060 shares of the company's stock worth $10,497,000 after buying an additional 71,802 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in HighPeak Energy during the 4th quarter worth about $112,000. 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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