HighPeak Energy (NASDAQ:HPK) Shares Down 3.9%

Shares of HighPeak Energy, Inc. (NASDAQ:HPK) dropped 3.9% on Tuesday . The stock traded as low as $16.20 and last traded at $16.20. Approximately 42,209 shares changed hands during trading, a decline of 87% from the average daily volume of 330,303 shares. The stock had previously closed at $16.86.

Analysts Set New Price Targets

Separately, Truist Financial upped their price objective on HighPeak Energy from $13.00 to $14.00 and gave the stock a “hold” rating in a research report on Monday.

HighPeak Energy Stock Down 3.3 %

The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 13.23 and a beta of 0.69. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.04 and a quick ratio of 1.00. The firm has a 50-day moving average price of $14.85 and a two-hundred day moving average price of $14.90.

HighPeak Energy (NASDAQ:HPK) last released its earnings results on Wednesday, May 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). HighPeak Energy had a return on equity of 16.58% and a net margin of 14.64%. The company had revenue of $287.80 million for the quarter, compared to the consensus estimate of $284.38 million. During the same quarter in the previous year, the company posted $0.39 EPS. The business’s revenue was up 28.6% on a year-over-year basis. As a group, sell-side analysts anticipate that HighPeak Energy, Inc. will post 1.33 earnings per share for the current fiscal year.

HighPeak Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Monday, June 3rd were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.16 annualized dividend and a yield of 0.98%. HighPeak Energy’s payout ratio is presently 12.90%.

Institutional Trading of HighPeak Energy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC bought a new stake in HighPeak Energy in the first quarter valued at approximately $44,000. Blue Trust Inc. bought a new stake in HighPeak Energy in the second quarter valued at approximately $40,000. Register Financial Advisors LLC raised its stake in HighPeak Energy by 16.2% in the first quarter. Register Financial Advisors LLC now owns 43,000 shares of the company’s stock valued at $678,000 after buying an additional 6,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in HighPeak Energy in the fourth quarter valued at approximately $117,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in HighPeak Energy in the fourth quarter valued at approximately $174,000. 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.