HighPeak Energy (NASDAQ:HPK) Shares Up 3.5% - Here's What Happened

HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report) shares were up 3.5% during mid-day trading on Wednesday . The stock traded as high as $13.07 and last traded at $13.09. Approximately 70,520 shares traded hands during trading, a decline of 76% from the average daily volume of 293,040 shares. The stock had previously closed at $12.64.

Analyst Upgrades and Downgrades

Separately, Truist Financial decreased their price target on HighPeak Energy from $15.00 to $13.00 and set a "hold" rating on the stock in a research note on Thursday, March 13th.

HighPeak Energy Stock Down 2.2 %

The firm has a market cap of $1.57 billion, a PE ratio of 9.81 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.93 and a current ratio of 0.96. The company's 50-day simple moving average is $13.22 and its two-hundred day simple moving average is $14.02.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last posted its earnings results on Monday, March 10th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.07). The business had revenue of $234.81 million during the quarter, compared to the consensus estimate of $247.32 million. HighPeak Energy had a return on equity of 14.83% and a net margin of 15.94%. The firm's revenue for the quarter was down 22.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 earnings per share. On average, analysts predict that HighPeak Energy, Inc. will post 0.78 earnings per share for the current fiscal year.

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HighPeak Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 3rd were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date was Monday, March 3rd. HighPeak Energy's payout ratio is 23.88%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of HighPeak Energy by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 183,719 shares of the company's stock valued at $2,701,000 after purchasing an additional 1,445 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in HighPeak Energy by 5.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 29,829 shares of the company's stock valued at $438,000 after acquiring an additional 1,608 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of HighPeak Energy during the 4th quarter worth approximately $26,000. Wells Fargo & Company MN raised its position in shares of HighPeak Energy by 25.4% in the 4th quarter. Wells Fargo & Company MN now owns 9,180 shares of the company's stock worth $135,000 after acquiring an additional 1,857 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of HighPeak Energy by 9.4% in the 4th quarter. Barclays PLC now owns 27,242 shares of the company's stock valued at $400,000 after purchasing an additional 2,331 shares during the period. 24.13% of the stock is owned by hedge funds and other 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.