HighPeak Energy (NASDAQ:HPK) Shares Up 4.3% - Here's What Happened

HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report)'s share price traded up 4.3% on Wednesday . The stock traded as high as $9.09 and last traded at $8.92. 13,931 shares traded hands during trading, a decline of 95% from the average session volume of 300,636 shares. The stock had previously closed at $8.55.

Analysts Set New Price Targets

Several equities analysts have recently commented on HPK shares. Truist Financial lowered their price objective on HighPeak Energy from $15.00 to $13.00 and set a "hold" rating on the stock in a research report on Thursday, March 13th. Bank of America assumed coverage on HighPeak Energy in a research note on Monday, April 7th. They issued an "underperform" rating and a $10.00 price objective for the company.

HighPeak Energy Stock Down 3.7 %

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 business's 50 day moving average is $11.73 and its 200 day moving average is $13.44. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 7.16 and a beta of 0.82.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last issued its quarterly earnings data 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). HighPeak Energy had a net margin of 15.94% and a return on equity of 14.83%. The company had revenue of $234.81 million during the quarter, compared to analyst estimates of $247.32 million. During the same period last year, the firm earned $0.66 EPS. The business's quarterly revenue was down 22.0% compared to the same quarter last year. Sell-side analysts anticipate that HighPeak Energy, Inc. will post 0.78 earnings per share for the current year.

HighPeak Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders 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 1.76%. The ex-dividend date was Monday, March 3rd. HighPeak Energy's dividend payout ratio (DPR) is 23.88%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC grew 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 in the last quarter. SG Americas Securities LLC grew its holdings in HighPeak Energy by 126.1% during the 1st quarter. SG Americas Securities LLC now owns 31,728 shares of the company's stock worth $402,000 after acquiring an additional 17,693 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of HighPeak Energy by 5.7% in 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 purchasing an additional 1,608 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of HighPeak Energy by 32.2% during the 4th quarter. Two Sigma Investments LP now owns 58,877 shares of the company's stock worth $865,000 after purchasing an additional 14,329 shares during the last quarter. Finally, Numerai GP LLC grew its stake in shares of HighPeak Energy by 36.4% during the fourth quarter. Numerai GP LLC now owns 55,173 shares of the company's stock worth $811,000 after purchasing an additional 14,720 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.