HighPeak Energy (NASDAQ:HPK) Stock Price Up 3%

HighPeak Energy, Inc. (NASDAQ:HPK) rose 3% during trading on Tuesday . The stock traded as high as $14.46 and last traded at $14.30. Approximately 61,901 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 332,834 shares. The stock had previously closed at $13.88.

Analysts Set New Price Targets

Separately, Truist Financial decreased their price objective on shares of HighPeak Energy from $14.00 to $12.00 and set a “hold” rating on the stock in a report on Monday.

HighPeak Energy Trading Up 3.1 %

The firm’s 50-day simple moving average is $15.13 and its 200 day simple moving average is $15.07. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 11.19 and a beta of 0.68. 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 announced its quarterly earnings results on Monday, August 5th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.22). HighPeak Energy had a return on equity of 15.99% and a net margin of 14.05%. The company had revenue of $275.30 million for the quarter, compared to analyst estimates of $282.56 million. During the same quarter last year, the company posted $0.28 earnings per share. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. Equities analysts expect that HighPeak Energy, Inc. will post 1.07 earnings per share 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 given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Tuesday, September 3rd. HighPeak Energy’s dividend payout ratio (DPR) is currently 12.90%.

Insider Transactions at HighPeak Energy

In related news, CEO Jack Hightower purchased 50,000 shares of HighPeak Energy stock in a transaction on Tuesday, August 27th. The shares were purchased at an average price of $15.50 per share, for a total transaction of $775,000.00. Following the transaction, the chief executive officer now owns 4,722,863 shares of the company’s stock, valued at approximately $73,204,376.50. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have acquired 203,821 shares of company stock worth $3,154,206. Company insiders own 77.50% of the company’s stock.

Institutional Trading of HighPeak Energy

A number of institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC bought a new position in HighPeak Energy during the first quarter worth $44,000. Blue Trust Inc. bought a new stake in HighPeak Energy in the 2nd quarter valued at about $40,000. Innealta Capital LLC acquired a new position in HighPeak Energy during the 2nd quarter worth approximately $86,000. Solstein Capital LLC boosted its holdings in HighPeak Energy by 33.3% in the second quarter. Solstein Capital LLC now owns 8,000 shares of the company’s stock worth $112,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Encompass More Asset Management acquired a new stake in HighPeak Energy in the second quarter valued at approximately $146,000. 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.