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

HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report)'s stock price dropped 5.6% during trading on Wednesday . The stock traded as low as $8.47 and last traded at $8.39. Approximately 224,246 shares traded hands during 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 assumed coverage on HighPeak Energy in a research report on Monday, April 7th. They set an "underperform" rating and a $10.00 price objective for the company.

HighPeak Energy Price Performance

The business has a 50-day moving average price of $10.21 and a 200 day moving average price of $11.55. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 9.60 and a beta of 1.04. The company has a current ratio of 0.51, a quick ratio of 0.48 and a debt-to-equity ratio of 0.55.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.09. HighPeak Energy had a return on equity of 8.79% and a net margin of 12.03%. The company 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 company's quarterly revenue was down 10.6% compared to the same quarter last year. As a group, research analysts expect that HighPeak Energy, Inc. will post 0.78 earnings per share for the current fiscal year.

HighPeak Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Monday, June 2nd. HighPeak Energy's dividend payout ratio (DPR) is currently 18.18%.

Institutional Trading of HighPeak Energy

Large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new stake in HighPeak Energy during the 4th quarter valued at $26,000. Strs Ohio acquired a new position in shares of HighPeak Energy in the first quarter worth $60,000. KLP Kapitalforvaltning AS acquired a new position in shares of HighPeak Energy in the fourth quarter worth $112,000. Exchange Traded Concepts LLC increased its stake in shares of HighPeak Energy by 1,262.5% in the first quarter. Exchange Traded Concepts LLC now owns 9,238 shares of the company's stock worth $117,000 after acquiring an additional 8,560 shares during the last quarter. Finally, AlphaQuest LLC increased its stake in shares of HighPeak Energy by 509.9% in the fourth quarter. AlphaQuest LLC now owns 8,045 shares of the company's stock worth $118,000 after acquiring an additional 6,726 shares during the last quarter. 24.13% of the stock is 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.

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