HighPeak Energy (NASDAQ:HPK) Trading Down 5.6% - What's Next?

HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report) shares dropped 5.6% during mid-day trading on Wednesday . The company traded as low as $8.47 and last traded at $8.39. Approximately 224,246 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 307,759 shares. The stock had previously closed at $8.89.

Wall Street Analysts Forecast Growth

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

HighPeak Energy Trading Down 0.5%

The company has a quick ratio of 0.48, a current ratio of 0.51 and a debt-to-equity ratio of 0.55. The firm's 50 day simple moving average is $10.19 and its two-hundred day simple moving average is $11.44. The stock has a market cap of $1.05 billion, a P/E ratio of 9.44 and a beta of 1.04.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported $0.31 EPS 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 analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.37 earnings per share. As a group, equities research analysts predict that HighPeak Energy, Inc. will post 0.78 earnings per share for the current fiscal year.

HighPeak Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.16 annualized dividend and a yield of 1.93%. HighPeak Energy's payout ratio is presently 18.18%.

Hedge Funds Weigh In On HighPeak Energy

A number of large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets acquired a new position in HighPeak Energy in the fourth quarter worth approximately $26,000. Strs Ohio acquired a new position in HighPeak Energy in the first quarter worth approximately $60,000. KLP Kapitalforvaltning AS bought a new stake in HighPeak Energy during the fourth quarter worth approximately $112,000. Wells Fargo & Company MN boosted its position in HighPeak Energy by 25.4% during 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 period. Finally, Exchange Traded Concepts LLC boosted its position in HighPeak Energy by 1,262.5% during the first quarter. Exchange Traded Concepts LLC now owns 9,238 shares of the company's stock worth $117,000 after purchasing an additional 8,560 shares during the period. Institutional investors and hedge funds 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.