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

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

Insider Buying and Selling

In other news, CEO Jack Hightower acquired 17,743 shares of HighPeak Energy stock in a transaction on Thursday, August 29th. The stock was acquired at an average cost of $15.50 per share, with a total value of $275,016.50. Following the completion of the acquisition, the chief executive officer now owns 4,805,350 shares in the company, valued at approximately $74,482,925. This trade 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 hyperlink. In the last quarter, insiders have purchased 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 large investors have recently modified their holdings of the company. Sanders Morris Harris LLC bought a new stake in HighPeak Energy during the 3rd quarter worth approximately $4,506,000. SG Americas Securities LLC purchased a new position in shares of HighPeak Energy during the 3rd quarter valued at $107,000. Susquehanna Fundamental Investments LLC increased its holdings in shares of HighPeak Energy by 197.4% in the second quarter. Susquehanna Fundamental Investments LLC now owns 54,141 shares of the company’s stock worth $761,000 after purchasing an additional 35,937 shares during the period. Squarepoint Ops LLC raised its position in shares of HighPeak Energy by 47.4% in the second quarter. Squarepoint Ops LLC now owns 90,035 shares of the company’s stock worth $1,266,000 after buying an additional 28,951 shares in the last quarter. Finally, Interval Partners LP bought a new stake in HighPeak Energy during the second quarter valued at $1,684,000. 24.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

HighPeak Energy Stock Performance

HighPeak Energy stock traded up $0.18 during mid-day trading on Wednesday, reaching $14.28. The company’s stock had a trading volume of 165,033 shares, compared to its average volume of 332,323. The firm’s fifty day moving average price is $14.89 and its two-hundred day moving average price is $14.98. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.90 and a current ratio of 0.93. HighPeak Energy has a 12-month low of $12.20 and a 12-month high of $18.42. The company has a market capitalization of $1.83 billion, a P/E ratio of 11.52 and a beta of 0.68.

HighPeak Energy (NASDAQ:HPK) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.22). HighPeak Energy had a net margin of 14.05% and a return on equity of 15.99%. The company had revenue of $275.30 million during the quarter, compared to analysts’ expectations of $282.56 million. During the same quarter last year, the firm posted $0.28 earnings per share. HighPeak Energy’s revenue for the quarter was up 14.3% compared to the same quarter last year. Sell-side analysts predict that HighPeak Energy will post 0.91 EPS for the current fiscal year.

HighPeak Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.12%. The ex-dividend date was Tuesday, September 3rd. HighPeak Energy’s dividend payout ratio is presently 12.90%.

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.