Short Interest in HighPeak Energy, Inc. (NASDAQ:HPK) Declines By 31.7%

HighPeak Energy, Inc. (NASDAQ:HPK) saw a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 4,200,000 shares, a drop of 31.7% from the May 31st total of 6,150,000 shares. Based on an average trading volume of 305,500 shares, the days-to-cover ratio is currently 13.7 days. Approximately 20.9% of the shares of the company are short sold.

Institutional Investors Weigh In On HighPeak Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new stake in HighPeak Energy in the third quarter worth $2,318,000. Dynamic Technology Lab Private Ltd bought a new stake in HighPeak Energy in the fourth quarter worth $226,000. Kennedy Capital Management LLC bought a new stake in HighPeak Energy in the third quarter worth $10,396,000. Vanguard Group Inc. boosted its holdings in HighPeak Energy by 850.3% in the third quarter. Vanguard Group Inc. now owns 2,297,335 shares of the company’s stock worth $38,779,000 after acquiring an additional 2,055,576 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new position in shares of HighPeak Energy during the fourth quarter valued at $174,000. 24.13% of the stock is owned by hedge funds and other institutional investors.

HighPeak Energy Trading Down 0.9 %

HighPeak Energy stock traded down $0.13 during trading hours on Friday, reaching $14.06. The company had a trading volume of 948,473 shares, compared to its average volume of 314,008. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.04 and a quick ratio of 1.00. The company has a 50-day moving average price of $14.52 and a 200 day moving average price of $14.75. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 11.34 and a beta of 0.69. HighPeak Energy has a 12-month low of $10.58 and a 12-month high of $18.42.

HighPeak Energy (NASDAQ:HPK) last posted its earnings results on Wednesday, May 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). HighPeak Energy had a net margin of 14.64% and a return on equity of 16.58%. The business had revenue of $287.80 million for the quarter, compared to analysts’ expectations of $284.38 million. During the same period last year, the firm posted $0.39 earnings per share. HighPeak Energy’s quarterly revenue was up 28.6% on a year-over-year basis. Equities analysts forecast that HighPeak Energy will post 1.33 earnings per share for the current year.

HighPeak Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Monday, June 3rd were paid a $0.04 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.16 annualized dividend and a yield of 1.14%. HighPeak Energy’s payout ratio is 12.90%.

Wall Street Analyst Weigh In

Separately, Truist Financial raised HighPeak Energy from a “sell” rating to a “hold” rating and lifted their target price for the company from $10.00 to $13.00 in a report on Thursday, May 23rd.

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.