HighPeak Energy, Inc. (NASDAQ:HPK) Short Interest Update

HighPeak Energy, Inc. (NASDAQ:HPK) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 4,590,000 shares, a decline of 17.0% from the February 28th total of 5,530,000 shares. Approximately 24.8% of the shares of the stock are short sold. Based on an average daily volume of 273,600 shares, the days-to-cover ratio is presently 16.8 days.

Wall Street Analyst Weigh In

Separately, Truist Financial cut their target price on shares of HighPeak Energy from $15.00 to $13.00 and set a “hold” rating on the stock in a research note on Thursday, March 13th.

HighPeak Energy Price Performance

NASDAQ:HPK traded up $0.13 during midday trading on Wednesday, hitting $12.97. The company had a trading volume of 162,603 shares, compared to its average volume of 296,465. The company has a market capitalization of $1.64 billion, a PE ratio of 10.21 and a beta of 0.76. The stock’s fifty day moving average price is $13.11 and its 200-day moving average price is $14.00. 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 has a 52-week low of $10.66 and a 52-week high of $17.48.

HighPeak Energy (NASDAQ:HPK) last released its earnings results on Monday, March 10th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.07). HighPeak Energy had a net margin of 15.94% and a return on equity of 14.83%. The business had revenue of $234.81 million for the quarter, compared to analysts’ expectations of $247.32 million. During the same quarter in the previous year, the business posted $0.66 earnings per share. HighPeak Energy’s revenue for the quarter was down 22.0% on a year-over-year basis. As a group, research analysts expect that HighPeak Energy will post 0.78 earnings per share for the current year.

HighPeak Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 3rd were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.16 annualized dividend and a yield of 1.23%. HighPeak Energy’s dividend payout ratio (DPR) is presently 23.88%.

Institutional Investors Weigh In On HighPeak Energy

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in HighPeak Energy by 17.3% during the 3rd quarter. Geode Capital Management LLC now owns 563,822 shares of the company’s stock worth $7,827,000 after buying an additional 82,988 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in HighPeak Energy by 24.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 182,274 shares of the company’s stock worth $2,530,000 after buying an additional 35,483 shares during the period. Rhumbline Advisers lifted its position in HighPeak Energy by 151.8% during the 4th quarter. Rhumbline Advisers now owns 52,352 shares of the company’s stock worth $770,000 after acquiring an additional 31,558 shares during the period. State Street Corp boosted its holdings in shares of HighPeak Energy by 135.1% in the third quarter. State Street Corp now owns 707,425 shares of the company’s stock valued at $9,819,000 after acquiring an additional 406,536 shares in the last quarter. Finally, Barclays PLC raised its position in HighPeak Energy by 346.6% in the third quarter. Barclays PLC now owns 24,911 shares of the company’s stock worth $346,000 after acquiring an additional 19,333 shares in the last quarter. 24.13% of the stock is currently owned by institutional investors and hedge funds.

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.