HighPeak Energy (NASDAQ:HPK) Shares Gap Up on Insider Buying Activity

HighPeak Energy, Inc. (NASDAQ:HPK)’s stock price gapped up prior to trading on Monday following insider buying activity. The stock had previously closed at $15.12, but opened at $15.81. HighPeak Energy shares last traded at $16.31, with a volume of 197,445 shares traded.

Specifically, CEO Jack Hightower bought 100,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were acquired at an average price of $15.54 per share, with a total value of $1,554,000.00. Following the completion of the transaction, the chief executive officer now owns 4,959,255 shares of the company’s stock, valued at approximately $77,066,822.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Analysts Set New Price Targets

Separately, Truist Financial boosted their target price on shares of HighPeak Energy from $13.00 to $14.00 and gave the stock a “hold” rating in a research report on Monday, July 22nd.

HighPeak Energy Price Performance

The firm has a market cap of $1.97 billion, a P/E ratio of 12.40 and a beta of 0.68. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.62. The stock’s 50-day moving average is $15.36 and its 200-day moving average is $15.08.

HighPeak Energy (NASDAQ:HPK) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.28 earnings per share (EPS) 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 business had revenue of $275.30 million during the quarter, compared to the consensus estimate of $282.56 million. During the same period last year, the firm earned $0.28 EPS. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, equities analysts anticipate that HighPeak Energy, Inc. will post 1.07 EPS for the current fiscal year.

HighPeak Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.04%. HighPeak Energy’s payout ratio is presently 12.90%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wasatch Advisors LP raised its holdings in shares of HighPeak Energy by 15.6% in the first quarter. Wasatch Advisors LP now owns 521,150 shares of the company’s stock valued at $8,219,000 after buying an additional 70,385 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of HighPeak Energy by 26.8% in the second quarter. American Century Companies Inc. now owns 520,698 shares of the company’s stock valued at $7,321,000 after buying an additional 110,099 shares during the last quarter. Denali Advisors LLC raised its holdings in shares of HighPeak Energy by 80.2% in the second quarter. Denali Advisors LLC now owns 319,800 shares of the company’s stock valued at $4,496,000 after buying an additional 142,300 shares during the last quarter. Intrinsic Edge Capital Management LLC bought a new position in shares of HighPeak Energy in the fourth quarter valued at about $3,636,000. Finally, Empowered Funds LLC raised its holdings in shares of HighPeak Energy by 49.6% in the first quarter. Empowered Funds LLC now owns 153,164 shares of the company’s stock valued at $2,415,000 after buying an additional 50,812 shares during the last quarter. 24.13% of the stock is owned by institutional investors.

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.