Wasatch Advisors LP Grows Position in HighPeak Energy, Inc. (NASDAQ:HPK)

Wasatch Advisors LP increased its position in shares of HighPeak Energy, Inc. (NASDAQ:HPK) by 15.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 521,150 shares of the company’s stock after purchasing an additional 70,385 shares during the period. Wasatch Advisors LP owned approximately 0.41% of HighPeak Energy worth $8,219,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Register Financial Advisors LLC lifted its holdings in HighPeak Energy by 16.2% during the 1st quarter. Register Financial Advisors LLC now owns 43,000 shares of the company’s stock valued at $678,000 after buying an additional 6,000 shares in the last quarter. Intrinsic Edge Capital Management LLC bought a new stake in HighPeak Energy during the 4th quarter valued at about $3,636,000. Dynamic Technology Lab Private Ltd bought a new stake in HighPeak Energy during the 4th quarter valued at about $226,000. Swiss National Bank bought a new stake in HighPeak Energy during the 4th quarter valued at about $721,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in HighPeak Energy during the 4th quarter valued at about $117,000. 24.13% of the stock is owned by hedge funds and other institutional investors.

HighPeak Energy Stock Performance

Shares of HPK stock traded up $0.37 during trading hours on Tuesday, hitting $14.39. The company’s stock had a trading volume of 466,913 shares, compared to its average volume of 340,467. The company has a 50 day moving average of $14.48 and a 200 day moving average of $14.77. The stock has a market cap of $1.84 billion, a PE ratio of 11.60 and a beta of 0.69. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.65. HighPeak Energy, Inc. has a 12-month low of $10.58 and a 12-month high of $18.42.

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

HighPeak Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Monday, June 3rd were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Monday, June 3rd. HighPeak Energy’s dividend payout ratio (DPR) is presently 12.90%.

Analyst Upgrades and Downgrades

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

HighPeak Energy 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.