HighPeak Energy, Inc. (NASDAQ:HPK) Sees Significant Drop in Short Interest

HighPeak Energy, Inc. (NASDAQ:HPK) was the recipient of a significant decline in short interest during the month of 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. Based on an average daily volume of 273,600 shares, the short-interest ratio is presently 16.8 days. Approximately 24.8% of the shares of the company are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new stake in shares of HighPeak Energy in the fourth quarter valued at about $26,000. FMR LLC grew its position in HighPeak Energy by 766.6% during the third quarter. FMR LLC now owns 8,016 shares of the company’s stock worth $111,000 after buying an additional 7,091 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of HighPeak Energy during the 4th quarter worth approximately $112,000. AlphaQuest LLC increased its holdings in HighPeak Energy by 509.9% in the 4th quarter. AlphaQuest LLC now owns 8,045 shares of the company’s stock valued at $118,000 after buying an additional 6,726 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in HighPeak Energy by 25.4% in the 4th quarter. Wells Fargo & Company MN now owns 9,180 shares of the company’s stock valued at $135,000 after buying an additional 1,857 shares during the period. 24.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Truist Financial cut their target price on 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 Stock Down 11.2 %

HPK stock traded down $1.45 during midday trading on Thursday, reaching $11.52. The company had a trading volume of 114,011 shares, compared to its average volume of 295,755. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 0.59. HighPeak Energy has a 1 year low of $10.66 and a 1 year high of $17.48. The company has a 50 day moving average of $13.11 and a two-hundred day moving average of $14.00. The company has a market capitalization of $1.45 billion, a P/E ratio of 9.07 and a beta of 0.76.

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

HighPeak Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 3rd were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend was Monday, March 3rd. HighPeak Energy’s payout ratio is 23.88%.

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.