HighPeak Energy, Inc. (NASDAQ:HPK) Sees Large Growth in Short Interest

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

Insider Activity

In other HighPeak Energy news, CEO Jack Hightower bought 17,743 shares of HighPeak Energy stock in a transaction that occurred on Thursday, August 29th. The stock was purchased at an average price of $15.50 per share, with a total value of $275,016.50. Following the completion of the acquisition, the chief executive officer now directly owns 4,805,350 shares in the company, valued at approximately $74,482,925. This trade represents a 0.37 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased 203,821 shares of company stock valued at $3,154,206 over the last ninety days. 77.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On HighPeak Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HPK. State Street Corp raised its stake in HighPeak Energy by 135.1% in the 3rd quarter. State Street Corp now owns 707,425 shares of the company’s stock valued at $9,819,000 after purchasing an additional 406,536 shares during the last quarter. Sanders Morris Harris LLC acquired a new stake in shares of HighPeak Energy in the third quarter valued at about $4,506,000. Denali Advisors LLC lifted its stake 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 worth $4,496,000 after buying an additional 142,300 shares in the last quarter. Interval Partners LP acquired a new position in HighPeak Energy during the second quarter worth about $1,684,000. Finally, American Century Companies Inc. grew its stake in HighPeak Energy by 26.8% during the 2nd quarter. American Century Companies Inc. now owns 520,698 shares of the company’s stock valued at $7,321,000 after acquiring an additional 110,099 shares in the last quarter. 24.13% of the stock is owned by hedge funds and other institutional investors.

HighPeak Energy Stock Performance

HPK traded up $0.61 on Monday, reaching $14.59. The stock had a trading volume of 194,660 shares, compared to its average volume of 327,516. The business’s 50-day moving average price is $14.28 and its two-hundred day moving average price is $14.76. 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 12-month low of $12.20 and a 12-month high of $17.48. The company has a market cap of $1.87 billion, a P/E ratio of 11.49 and a beta of 0.69.

HighPeak Energy (NASDAQ:HPK) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.12. The company had revenue of $271.60 million for the quarter, compared to the consensus estimate of $270.18 million. HighPeak Energy had a return on equity of 14.83% and a net margin of 15.94%. HighPeak Energy’s revenue for the quarter was down 21.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.46 earnings per share. Sell-side analysts forecast that HighPeak Energy will post 0.65 earnings per share for the current year.

HighPeak Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 2nd will be given 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 is Monday, December 2nd. HighPeak Energy’s dividend payout ratio is presently 12.60%.

Analyst Ratings Changes

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

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.