HighPeak Energy (NASDAQ:HPK) Trading 3.4% Higher

HighPeak Energy, Inc. (NASDAQ:HPK) was up 3.4% during trading on Thursday . The stock traded as high as $15.43 and last traded at $15.30. Approximately 52,907 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 334,419 shares. The stock had previously closed at $14.79.

Analysts Set New Price Targets

Separately, Truist Financial raised HighPeak Energy from a “sell” rating to a “hold” rating and increased their price objective for the company from $10.00 to $13.00 in a research note on Thursday.

HighPeak Energy Stock Up 1.5 %

The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 12.03 and a beta of 0.67. The business has a 50 day simple moving average of $15.16 and a 200-day simple moving average of $14.97. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.00 and a current ratio of 1.04.

HighPeak Energy (NASDAQ:HPK) last issued its earnings results on Wednesday, May 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $284.38 million. During the same period last year, the business earned $0.39 earnings per share. The firm’s revenue was up 28.6% compared to the same quarter last year. On average, equities analysts expect that HighPeak Energy, Inc. will post 1.73 EPS for the current year.

HighPeak Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 3rd will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Monday, June 3rd. HighPeak Energy’s dividend payout ratio (DPR) is presently 12.90%.

Hedge Funds Weigh In On HighPeak Energy

A number of hedge funds have recently modified their holdings of the business. Susquehanna Fundamental Investments LLC purchased a new position in shares of HighPeak Energy during the 1st quarter worth $287,000. Empowered Funds LLC boosted its holdings in HighPeak Energy by 49.6% during the 1st quarter. Empowered Funds LLC now owns 153,164 shares of the company’s stock valued at $2,415,000 after acquiring an additional 50,812 shares during the period. GSA Capital Partners LLP boosted its holdings in HighPeak Energy by 29.7% during the 1st quarter. GSA Capital Partners LLP now owns 127,460 shares of the company’s stock valued at $2,010,000 after acquiring an additional 29,177 shares during the period. Wasatch Advisors LP boosted its holdings in HighPeak Energy by 15.6% during the 1st quarter. Wasatch Advisors LP now owns 521,150 shares of the company’s stock valued at $8,219,000 after acquiring an additional 70,385 shares during the period. Finally, Register Financial Advisors LLC boosted its holdings in HighPeak Energy by 16.2% during the 1st quarter. Register Financial Advisors LLC now owns 43,000 shares of the company’s stock valued at $678,000 after acquiring an additional 6,000 shares during the period. 24.13% of the stock is currently 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.