HighPeak Energy, Inc. (NASDAQ:HPK) Short Interest Down 17.0% in March

HighPeak Energy, Inc. (NASDAQ:HPK) was the target of a large 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 trading volume of 273,600 shares, the days-to-cover ratio is presently 16.8 days. Approximately 24.8% of the shares of the company are short sold.

Hedge Funds Weigh In On HighPeak Energy

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of HighPeak Energy by 6.7% in the fourth quarter. Vanguard Group Inc. now owns 2,158,851 shares of the company’s stock valued at $31,735,000 after buying an additional 135,792 shares in the last quarter. American Century Companies Inc. lifted its position in shares of HighPeak Energy by 11.2% during the 4th quarter. American Century Companies Inc. now owns 714,060 shares of the company’s stock valued at $10,497,000 after acquiring an additional 71,802 shares during the period. State Street Corp grew its holdings in shares of HighPeak Energy by 135.1% during the 3rd quarter. State Street Corp now owns 707,425 shares of the company’s stock worth $9,819,000 after purchasing an additional 406,536 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 purchasing an additional 82,988 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of HighPeak Energy by 54.3% in the fourth quarter. Bank of New York Mellon Corp now owns 467,294 shares of the company’s stock worth $6,869,000 after purchasing an additional 164,398 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 reduced their price objective on shares of HighPeak Energy from $15.00 to $13.00 and set a “hold” rating for the company in a research report on Thursday, March 13th.

HighPeak Energy Stock Performance

Shares of HPK stock traded up $0.23 during midday trading on Tuesday, hitting $12.89. 152,092 shares of the company were exchanged, compared to its average volume of 296,504. The firm has a market capitalization of $1.63 billion, a P/E ratio of 10.16 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.93 and a current ratio of 0.96. HighPeak Energy has a 52 week low of $10.66 and a 52 week high of $17.48. The firm’s 50 day moving average price is $13.17 and its two-hundred day moving average price is $14.01.

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). The firm had revenue of $234.81 million during the quarter, compared to analyst estimates of $247.32 million. HighPeak Energy had a net margin of 15.94% and a return on equity of 14.83%. HighPeak Energy’s revenue for the quarter was down 22.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 EPS. As a group, equities research analysts anticipate that HighPeak Energy will post 0.78 earnings per share for the current year.

HighPeak Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 3rd were given a $0.04 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.24%. HighPeak Energy’s payout ratio is presently 23.88%.

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.