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

HighPeak Energy, Inc. (NASDAQ:HPK) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 5,530,000 shares, an increase of 5.5% from the October 15th total of 5,240,000 shares. Based on an average daily trading volume, of 326,300 shares, the days-to-cover ratio is presently 16.9 days. Approximately 28.8% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Separately, Truist Financial raised their target price on HighPeak Energy from $12.00 to $14.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th.

Insider Buying and Selling

In other news, CEO Jack Hightower purchased 17,743 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was acquired at an average price of $15.50 per share, for a total transaction of $275,016.50. Following the acquisition, the chief executive officer now directly owns 4,805,350 shares of the company’s stock, valued at approximately $74,482,925. This represents a 0.37 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have purchased 203,821 shares of company stock worth $3,154,206. 77.50% of the stock is owned by corporate insiders.

Institutional Trading of HighPeak Energy

A number of institutional investors and hedge funds have recently bought and sold shares of HPK. EverSource Wealth Advisors LLC acquired a new position in shares of HighPeak Energy in the first quarter valued at approximately $44,000. Blue Trust Inc. purchased a new stake in shares of HighPeak Energy during the second quarter worth $40,000. Innealta Capital LLC acquired a new stake in shares of HighPeak Energy in the second quarter valued at $86,000. SG Americas Securities LLC acquired a new stake in shares of HighPeak Energy in the third quarter valued at $107,000. Finally, 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 valued at $112,000 after purchasing an additional 2,000 shares during the period. 24.13% of the stock is currently owned by hedge funds and other institutional investors.

HighPeak Energy Trading Up 4.4 %

HPK stock traded up $0.61 during mid-day trading on Monday, hitting $14.59. 194,660 shares of the company were exchanged, compared to its average volume of 327,516. The business has a fifty day simple moving average of $14.28 and a 200-day simple moving average of $14.76. The firm has a market capitalization of $1.87 billion, a P/E ratio of 11.49 and a beta of 0.69. HighPeak Energy has a 12-month low of $12.20 and a 12-month high of $17.48. 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 (NASDAQ:HPK) last posted its earnings results on Monday, November 4th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.12. HighPeak Energy had a net margin of 15.94% and a return on equity of 14.83%. The firm had revenue of $271.60 million during the quarter, compared to the consensus estimate of $270.18 million. During the same quarter last year, the firm earned $0.46 EPS. The firm’s revenue for the quarter was down 21.4% on a year-over-year basis. On average, equities research analysts predict that HighPeak Energy will post 0.65 earnings per share for the current fiscal year.

HighPeak Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 2nd will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Monday, December 2nd. HighPeak Energy’s dividend payout ratio (DPR) is 12.60%.

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.