HighPeak Energy (NASDAQ:HPK) Shares Gap Down – Should You Sell?

HighPeak Energy, Inc. (NASDAQ:HPK)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $11.90, but opened at $11.60. HighPeak Energy shares last traded at $11.40, with a volume of 58,584 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HPK. Bank of America assumed coverage on shares of HighPeak Energy in a research note on Monday, April 7th. They issued an “underperform” rating and a $10.00 price target for the company. Truist Financial decreased their target price on shares of HighPeak Energy from $15.00 to $13.00 and set a “hold” rating for the company in a research note on Thursday, March 13th.

HighPeak Energy Stock Down 4.5%

The firm has a market capitalization of $1.43 billion, a P/E ratio of 8.92 and a beta of 1.06. The company has a fifty day simple moving average of $9.57 and a 200 day simple moving average of $12.16. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 0.59.

HighPeak Energy (NASDAQ:HPK) last released its quarterly earnings data on Monday, May 12th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates 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 15.94% and a return on equity of 14.83%. HighPeak Energy’s revenue was down 10.6% compared to the same quarter last year. During the same period last year, the business earned $0.37 EPS. On average, equities analysts expect that HighPeak Energy, Inc. will post 0.78 EPS for the current fiscal year.

HighPeak Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Monday, June 2nd will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Monday, June 2nd. HighPeak Energy’s dividend payout ratio (DPR) is currently 18.18%.

Hedge Funds Weigh In On HighPeak Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets purchased a new position in shares of HighPeak Energy in the fourth quarter worth $26,000. Strs Ohio purchased a new position in HighPeak Energy in the 1st quarter worth about $60,000. KLP Kapitalforvaltning AS bought a new position in HighPeak Energy during the 4th quarter valued at about $112,000. Exchange Traded Concepts LLC lifted its stake in HighPeak Energy by 1,262.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 9,238 shares of the company’s stock valued at $117,000 after acquiring an additional 8,560 shares during the period. Finally, AlphaQuest LLC boosted its holdings in shares of HighPeak Energy by 509.9% during the 4th quarter. AlphaQuest LLC now owns 8,045 shares of the company’s stock valued at $118,000 after acquiring an additional 6,726 shares during the last quarter. 24.13% of the stock is owned by 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.