HighPeak Energy, Inc. (NASDAQ:HPK) Sees Large Increase in Short Interest

HighPeak Energy, Inc. (NASDAQ:HPK) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 5,440,000 shares, an increase of 15.0% from the September 15th total of 4,730,000 shares. Based on an average daily trading volume, of 329,800 shares, the days-to-cover ratio is currently 16.5 days. Currently, 28.1% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Truist Financial lowered their target price on shares of HighPeak Energy from $14.00 to $12.00 and set a “hold” rating on the stock in a report on Monday, September 30th.

HighPeak Energy Stock Up 1.3 %

Shares of HPK stock traded up $0.18 during trading hours on Wednesday, reaching $14.28. The company had a trading volume of 165,033 shares, compared to its average volume of 332,323. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 11.52 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 has a 12 month low of $12.20 and a 12 month high of $18.42. The business has a fifty day simple moving average of $14.89 and a 200-day simple moving average of $14.98.

HighPeak Energy (NASDAQ:HPK) last posted its quarterly earnings data 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 firm had revenue of $275.30 million for the quarter, compared to analysts’ expectations of $282.56 million. During the same period in the prior year, the firm earned $0.28 earnings per share. HighPeak Energy’s revenue was up 14.3% compared to the same quarter last year. On average, research analysts expect that HighPeak Energy will post 0.91 earnings per share for the current fiscal year.

HighPeak Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 3rd were paid a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.16 annualized dividend and a yield of 1.12%. HighPeak Energy’s dividend payout ratio (DPR) is 12.90%.

Insider Buying and Selling

In other news, CEO Jack Hightower bought 100,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were bought at an average cost of $15.54 per share, for a total transaction of $1,554,000.00. Following the acquisition, the chief executive officer now directly owns 4,959,255 shares in the company, valued at approximately $77,066,822.70. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have bought 203,821 shares of company stock valued at $3,154,206. 77.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On HighPeak Energy

A number of hedge funds and other institutional investors have recently modified their holdings of HPK. Register Financial Advisors LLC increased its position in shares of HighPeak Energy by 16.2% during the first 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 last quarter. Wasatch Advisors LP raised its stake in shares of HighPeak Energy by 15.6% during the 1st quarter. Wasatch Advisors LP now owns 521,150 shares of the company’s stock worth $8,219,000 after purchasing an additional 70,385 shares during the period. GSA Capital Partners LLP raised its stake in shares of HighPeak Energy by 29.7% during the 1st quarter. GSA Capital Partners LLP now owns 127,460 shares of the company’s stock worth $2,010,000 after purchasing an additional 29,177 shares during the period. Empowered Funds LLC boosted its holdings in shares of HighPeak Energy by 49.6% in the 1st quarter. Empowered Funds LLC now owns 153,164 shares of the company’s stock worth $2,415,000 after buying an additional 50,812 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in HighPeak Energy during the first quarter valued at about $287,000. 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.