HighPeak Energy, Inc. (NASDAQ: HPK) Brief Interest Update
HighPeak Energy, Inc. (NASDAQ:HPK – Get Rating) saw significant growth in short-term interest in September. As of September 30, there was short interest totaling 1,230,000 shares, a growth of 13.9% from the total of 1,080,000 shares as of September 15. Currently, 12.3% of the company’s shares are sold short. Based on an average daily trading volume of 214,100 shares, the day-to-cover ratio is currently 5.7 days.
HighPeak Energy Stock Down 0.3%
Shares of HPK traded down $0.07 during trading hours on Tuesday, hitting $21.20. The company’s stock had a trading volume of 5,279 shares, compared to an average volume of 163,410. The company has a market capitalization of $2.32 billion, a price-earnings ratio of 23.00 and a beta of 0.70. HighPeak Energy has a 1-year low of $10.59 and a 1-year high of $38.21. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt ratio of 0.54. The company has a 50-day moving average of $23.58 and a 200-day moving average of $26.11.
HighPeak Energy (NASDAQ:HPK – Get Rating) last released its quarterly earnings data on Monday, August 8. The company reported EPS of $0.78 for the quarter, beating analyst consensus estimates of $0.76 by $0.02. HighPeak Energy achieved a return on equity of 27.24% and a net margin of 24.13%. The company posted revenue of $201.43 million for the quarter, versus a consensus estimate of $168.04 million. As a group, research analysts predict that HighPeak Energy will post EPS of 3.96 for the current fiscal year.
HighPeak Energy Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 23. Investors of record on Tuesday, November 1 will receive a dividend of $0.025. The ex-date of this dividend is Monday, October 31. This represents a dividend of $0.10 on an annualized basis and a yield of 0.47%. HighPeak Energy’s dividend payout ratio is currently 11.11%.
Insider Buying and Selling at HighPeak Energy
In other news, major shareholder John Paul Dejoria acquired 2,313,744 shares of HighPeak Energy in a transaction on Monday August 22. The stock was purchased at an average cost of $21.61 per share, with a total value of $50,000,007.84. Following the completion of the purchase, the insider now owns 7,813,744 shares of the company, valued at $168,855,007.84. The purchase was disclosed in a filing with the SEC, accessible via the SEC’s website. In other HighPeak Energy news, Chairman Michael L. Hollis purchased 3,500 shares of the company in a trade dated Friday, September 23. The shares were purchased at an average price of $20.20 per share, for a total transaction of $70,700.00. Following the acquisition, the president now directly owns 237,033 shares of the company, valued at $4,788,066.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, major shareholder John Paul Dejoria purchased 2,313,744 shares of the company in a transaction dated Monday, August 22. The shares were acquired at an average price of $21.61 per share, for a total transaction of $50,000,007.84. Following the acquisition, the insider now directly owns 7,813,744 shares of the company, valued at $168,855,007.84. Disclosure of this purchase can be found here. In the past ninety days, insiders have purchased 2,317,253 shares of the company valued at $50,070,954. 88.60% of the shares are currently held by insiders of the company.
Hedge funds weigh on HighPeak Energy
A number of hedge funds have recently increased or reduced their stakes in the company. Invesco Ltd. increased its stake in HighPeak Energy by 140.5% during the first quarter. Invesco Ltd. now owns 283,603 shares of the company valued at $6,296,000 after purchasing an additional 165,665 shares in the last quarter. Renaissance Technologies LLC increased its stake in HighPeak Energy by 1,004.2% during the second quarter. Renaissance Technologies LLC now owns 132,500 shares of the company valued at $3,395,000 after purchasing an additional 120,500 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in HighPeak Energy during the second quarter worth approximately $1,337,000. State Street Corp increased its stake in HighPeak Energy by 65.8% during the second quarter. State Street Corp now owns 100,841 shares of the company valued at $2,584,000 after purchasing an additional 40,025 shares in the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in HighPeak Energy during the first quarter valued at approximately $661,000. Institutional investors and hedge funds own 13.69% of the company’s shares.
About HighPeak Energy
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HighPeak Energy, Inc, an independent oil and gas company, is engaged in the acquisition, exploration, development and production of oil, natural gas and natural gas liquids reserves in the Midland Basin, in West Texas. As of December 31, 2021, the company had approximately 64,213 Mboe of proven reserves.
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