HighPeak Energy (NASDAQ:HPK) Shares Gap Down – Time to Sell?

HighPeak Energy, Inc. (NASDAQ:HPK) shares gapped down before the market opened 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 traded.

Wall Street Analysts Forecast Growth

Separately, Truist Financial cut their price objective on HighPeak Energy from $14.00 to $12.00 and set a “hold” rating for the company in a research note on Monday, September 30th.

HighPeak Energy Stock Performance

The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 11.60 and a beta of 0.68. The firm has a fifty day moving average of $14.74 and a 200 day moving average of $14.89. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.93 and a quick ratio of 0.90.

HighPeak Energy (NASDAQ:HPK) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.28 earnings per share (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 business had revenue of $275.30 million for the quarter, compared to analysts’ expectations of $282.56 million. During the same quarter last year, the company earned $0.28 earnings per share. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, sell-side analysts forecast that HighPeak Energy, Inc. will post 0.91 EPS for the current year.

HighPeak Energy Announces Dividend

The firm also recently declared 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. This represents a $0.16 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Tuesday, September 3rd. HighPeak Energy’s dividend payout ratio (DPR) is 12.90%.

Insider Transactions at HighPeak Energy

In other HighPeak Energy news, CEO Jack Hightower bought 50,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was acquired at an average price of $15.50 per share, for a total transaction of $775,000.00. Following the completion of the purchase, the chief executive officer now owns 4,722,863 shares of the company’s stock, valued at approximately $73,204,376.50. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have acquired 203,821 shares of company stock valued at $3,154,206. Corporate insiders own 77.50% of the company’s stock.

Institutional Trading of HighPeak Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wasatch Advisors LP increased its stake in HighPeak Energy by 15.6% in the 1st quarter. Wasatch Advisors LP now owns 521,150 shares of the company’s stock valued at $8,219,000 after purchasing an additional 70,385 shares in the last quarter. American Century Companies Inc. raised its stake in shares of HighPeak Energy by 26.8% during the 2nd quarter. American Century Companies Inc. now owns 520,698 shares of the company’s stock worth $7,321,000 after buying an additional 110,099 shares during the last quarter. Sanders Morris Harris LLC acquired a new stake in HighPeak Energy in the 3rd quarter valued at about $4,506,000. Denali Advisors LLC raised its position in shares of HighPeak Energy by 80.2% during the 2nd quarter. Denali Advisors LLC now owns 319,800 shares of the company’s stock worth $4,496,000 after purchasing an additional 142,300 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of HighPeak Energy by 49.6% during the first 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 last quarter. Hedge funds and other institutional investors own 24.13% of the company’s stock.

HighPeak Energy Company Profile

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.