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

HighPeak Energy, Inc. (NASDAQ:HPK) was the target of a significant decline in short interest during the month of February. As of February 15th, there was short interest totalling 4,260,000 shares, a decline of 12.2% from the January 31st total of 4,850,000 shares. Currently, 22.9% of the company’s shares are sold short. Based on an average daily trading volume, of 246,200 shares, the short-interest ratio is presently 17.3 days.

Analysts Set New Price Targets

Separately, Truist Financial raised their price objective on shares of HighPeak Energy from $14.00 to $15.00 and gave the company a “hold” rating in a research note on Monday, January 13th.

Hedge Funds Weigh In On HighPeak Energy

Several institutional investors have recently modified their holdings of HPK. Empowered Funds LLC raised its position in shares of HighPeak Energy by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 173,888 shares of the company’s stock valued at $2,414,000 after acquiring an additional 8,844 shares during the period. Charles Schwab Investment Management Inc. increased its stake in HighPeak Energy by 24.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 182,274 shares of the company’s stock valued at $2,530,000 after purchasing an additional 35,483 shares in the last quarter. FMR LLC raised its holdings in HighPeak Energy by 766.6% in the third quarter. FMR LLC now owns 8,016 shares of the company’s stock worth $111,000 after purchasing an additional 7,091 shares during the period. State Street Corp boosted its position 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 in the last quarter. Finally, Barclays PLC boosted its position in shares of HighPeak Energy by 346.6% during the third quarter. Barclays PLC now owns 24,911 shares of the company’s stock worth $346,000 after purchasing an additional 19,333 shares in the last quarter. 24.13% of the stock is currently owned by institutional investors and hedge funds.

HighPeak Energy Trading Up 1.5 %

Shares of NASDAQ:HPK traded up $0.17 during midday trading on Friday, hitting $11.94. The company had a trading volume of 117,870 shares, compared to its average volume of 235,590. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 0.59. HighPeak Energy has a 12 month low of $11.43 and a 12 month high of $17.48. The firm has a fifty day simple moving average of $14.03 and a 200 day simple moving average of $14.35. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 9.37 and a beta of 0.76.

HighPeak Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Monday, March 3rd. HighPeak Energy’s dividend payout ratio (DPR) is currently 12.60%.

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.