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

HighPeak Energy, Inc. (NASDAQ:HPK) was the target of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 4,590,000 shares, a decrease 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 daily volume of 273,600 shares, the days-to-cover ratio is presently 16.8 days.

Analyst Ratings Changes

Separately, Truist Financial reduced their price objective on shares of HighPeak Energy from $15.00 to $13.00 and set a “hold” rating on the stock in a research note on Thursday, March 13th.

HighPeak Energy Stock Performance

HPK stock traded down $1.45 during midday trading on Thursday, reaching $11.52. 114,011 shares of the company were exchanged, compared to its average volume of 295,755. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 9.07 and a beta of 0.76. The business has a 50-day moving average price of $13.11 and a two-hundred day moving average price of $14.00. HighPeak Energy has a one year low of $10.66 and a one year high of $17.48. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.96 and a quick ratio of 0.93.

HighPeak Energy (NASDAQ:HPK) last announced its quarterly 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). The company 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%. The firm’s quarterly revenue was down 22.0% on a year-over-year basis. During the same quarter last year, the company posted $0.66 EPS. Equities research analysts forecast that HighPeak Energy will post 0.78 EPS for the current year.

HighPeak Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 3rd were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.39%. HighPeak Energy’s payout ratio is 23.88%.

Institutional Investors Weigh In On HighPeak Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of HighPeak Energy by 5.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 29,829 shares of the company’s stock valued at $438,000 after buying an additional 1,608 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of HighPeak Energy by 32.2% during the 4th quarter. Two Sigma Investments LP now owns 58,877 shares of the company’s stock worth $865,000 after buying an additional 14,329 shares during the last quarter. Numerai GP LLC grew its position in HighPeak Energy by 36.4% in the fourth quarter. Numerai GP LLC now owns 55,173 shares of the company’s stock valued at $811,000 after acquiring an additional 14,720 shares during the last quarter. Lazard Asset Management LLC acquired a new position in HighPeak Energy during the 4th quarter worth approximately $270,000. Finally, Deutsche Bank AG increased its holdings in shares of HighPeak Energy by 176.7% during the fourth quarter. Deutsche Bank AG now owns 20,510 shares of the company’s stock worth $301,000 after buying an additional 13,098 shares in the last quarter. Institutional investors own 24.13% of the company’s stock.

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.