HighPeak Energy (NASDAQ:HPK) Shares Gap Down - What's Next?

HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $14.39, but opened at $13.85. HighPeak Energy shares last traded at $14.00, with a volume of 8,351 shares.

Analyst Ratings Changes

Separately, Truist Financial reduced their price target on shares of HighPeak Energy from $14.00 to $12.00 and set a "hold" rating on the stock in a research report on Monday, September 30th.

HighPeak Energy Stock Performance

The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 11.38 and a beta of 0.68. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.62. The company has a 50 day moving average of $14.74 and a 200 day moving average of $14.89.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last released its earnings results on Monday, August 5th. The company reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.22). HighPeak Energy had a return on equity of 15.99% and a net margin of 14.05%. The firm had revenue of $275.30 million for the quarter, compared to the consensus estimate of $282.56 million. During the same period in the prior year, the business earned $0.28 EPS. The company's quarterly revenue was up 14.3% on a year-over-year basis. As a group, equities research analysts expect that HighPeak Energy, Inc. will post 0.91 EPS for the current fiscal year.

HighPeak Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.04 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.17%. HighPeak Energy's dividend payout ratio (DPR) is 13.33%.

Insider Activity

In other HighPeak Energy news, CEO Jack Hightower acquired 100,000 shares of the company's stock in a transaction that occurred on Friday, September 20th. The shares were purchased at an average price of $15.54 per share, for a total transaction of $1,554,000.00. Following the completion of the purchase, the chief executive officer now directly owns 4,959,255 shares in the company, valued at $77,066,822.70. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders acquired 203,821 shares of company stock valued at $3,154,206. Company insiders own 77.50% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of HPK. Blue Trust Inc. bought a new position in shares of HighPeak Energy in the second quarter worth $40,000. EverSource Wealth Advisors LLC acquired a new position in HighPeak Energy during the 1st quarter valued at about $44,000. Innealta Capital LLC bought a new stake in shares of HighPeak Energy during the 2nd quarter worth about $86,000. SG Americas Securities LLC acquired a new stake in shares of HighPeak Energy in the 3rd quarter worth approximately $107,000. Finally, Solstein Capital LLC boosted its holdings in shares of HighPeak Energy by 33.3% in the second quarter. Solstein Capital LLC now owns 8,000 shares of the company's stock valued at $112,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors own 24.13% of the company's stock.

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.