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

HighPeak Energy, Inc. (NASDAQ:HPK) was the target of a large drop in short interest in March. As of March 15th, there was short interest totalling 4,590,000 shares, a drop of 17.0% from the February 28th total of 5,530,000 shares. Currently, 24.8% of the shares of the stock are short sold. Based on an average trading volume of 273,600 shares, the short-interest ratio is currently 16.8 days.

HighPeak Energy Price Performance

Shares of HighPeak Energy stock traded up $0.23 during trading on Tuesday, reaching $12.89. 152,092 shares of the company’s stock were exchanged, compared to its average volume of 296,504. 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 1-year low of $10.66 and a 1-year high of $17.48. The company has a market cap of $1.63 billion, a P/E ratio of 10.16 and a beta of 0.76. The firm’s 50-day moving average price is $13.17 and its 200 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 analysts’ consensus estimates of $0.13 by ($0.07). HighPeak Energy had a return on equity of 14.83% and a net margin of 15.94%. The company had revenue of $234.81 million during the quarter, compared to the consensus estimate of $247.32 million. During the same period last year, the company posted $0.66 EPS. The firm’s revenue was down 22.0% compared to the same quarter last year. As a group, research analysts anticipate that HighPeak Energy will post 0.78 earnings per share for the current year.

HighPeak Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

Separately, Truist Financial lowered 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.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HPK. Charles Schwab Investment Management Inc. boosted its holdings in shares of HighPeak Energy by 24.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 182,274 shares of the company’s stock valued at $2,530,000 after acquiring an additional 35,483 shares in the last quarter. FMR LLC boosted its stake in shares of HighPeak Energy by 766.6% during the third quarter. FMR LLC now owns 8,016 shares of the company’s stock valued at $111,000 after purchasing an additional 7,091 shares in the last quarter. State Street Corp grew its holdings in shares of HighPeak Energy by 135.1% during the third 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 during the last quarter. Barclays PLC increased its stake in shares of HighPeak Energy by 346.6% in the third quarter. Barclays PLC now owns 24,911 shares of the company’s stock valued at $346,000 after buying an additional 19,333 shares during the period. Finally, Geode Capital Management LLC raised its holdings in HighPeak Energy by 17.3% in the 3rd quarter. Geode Capital Management LLC now owns 563,822 shares of the company’s stock valued at $7,827,000 after buying an additional 82,988 shares during the last quarter. 24.13% of the stock is currently owned by institutional investors and hedge funds.

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.