HighPeak Energy, Inc. (NASDAQ:HPK) Short Interest Up 29.8% in February

HighPeak Energy, Inc. (NASDAQ:HPK) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 5,530,000 shares, an increase of 29.8% from the February 13th total of 4,260,000 shares. Currently, 29.7% of the company’s shares are sold short. Based on an average daily trading volume, of 264,000 shares, the days-to-cover ratio is presently 20.9 days.

Institutional Investors Weigh In On HighPeak Energy

Hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets purchased a new position in HighPeak Energy during the fourth quarter valued at $26,000. FMR LLC raised its stake in 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 buying an additional 7,091 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in HighPeak Energy during the fourth quarter valued at $112,000. AlphaQuest LLC raised its stake in HighPeak Energy by 509.9% during the fourth quarter. AlphaQuest LLC now owns 8,045 shares of the company’s stock valued at $118,000 after buying an additional 6,726 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in HighPeak Energy by 25.4% during the fourth quarter. Wells Fargo & Company MN now owns 9,180 shares of the company’s stock valued at $135,000 after buying an additional 1,857 shares during the last quarter. 24.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Truist Financial cut their price objective on HighPeak Energy from $15.00 to $13.00 and set a “hold” rating on the stock in a research report on Thursday.

HighPeak Energy Stock Up 3.5 %

Shares of NASDAQ HPK traded up $0.42 during mid-day trading on Monday, hitting $12.40. 178,311 shares of the stock traded hands, compared to its average volume of 263,587. 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 52 week low of $10.66 and a 52 week high of $17.48. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 9.76 and a beta of 0.76. The stock has a fifty day moving average price of $13.62 and a 200-day moving average price of $14.18.

HighPeak Energy (NASDAQ:HPK) last released its quarterly earnings results on Monday, March 10th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.07). HighPeak Energy had a net margin of 15.94% and a return on equity of 14.83%. The firm had revenue of $234.81 million for the quarter, compared to the consensus estimate of $247.32 million. During the same quarter in the prior year, the firm earned $0.66 earnings per share. The company’s revenue for the quarter was down 22.0% compared to the same quarter last year. Research analysts anticipate that HighPeak Energy will post 0.78 EPS for the current year.

HighPeak Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 3rd will be given a dividend of $0.04 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.16 annualized dividend and a dividend yield of 1.29%. HighPeak Energy’s dividend payout ratio is presently 23.88%.

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.