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

HighPeak Energy, Inc. (NASDAQ:HPK) was the target of a significant growth in short interest in November. As of November 30th, there was short interest totalling 6,260,000 shares, a growth of 16.4% from the November 15th total of 5,380,000 shares. Based on an average daily trading volume, of 337,100 shares, the days-to-cover ratio is currently 18.6 days. Approximately 33.7% of the company’s stock are short sold.

Insider Activity at HighPeak Energy

In other HighPeak Energy news, CEO Jack Hightower purchased 100,000 shares of the stock in a transaction on Friday, September 20th. The shares were purchased at an average price of $15.54 per share, with a total value of $1,554,000.00. Following the completion of the transaction, the chief executive officer now directly owns 4,959,255 shares in the company, valued at $77,066,822.70. This represents a 2.06 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 77.50% of the stock is owned by company insiders.

Institutional Trading of HighPeak Energy

Several institutional investors have recently added to or reduced their stakes in the stock. Denali Advisors LLC lifted its stake in shares of HighPeak Energy by 80.2% in the 2nd quarter. Denali Advisors LLC now owns 319,800 shares of the company’s stock valued at $4,496,000 after purchasing an additional 142,300 shares during the period. Charles Schwab Investment Management Inc. increased its holdings 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 worth $2,530,000 after purchasing an additional 35,483 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of HighPeak Energy by 26.8% during the 2nd quarter. American Century Companies Inc. now owns 520,698 shares of the company’s stock worth $7,321,000 after buying an additional 110,099 shares in the last quarter. Interval Partners LP bought a new position in shares of HighPeak Energy during the 2nd quarter worth approximately $1,684,000. Finally, Sanders Morris Harris LLC acquired a new stake in shares of HighPeak Energy during the 3rd quarter worth approximately $4,506,000. 24.13% of the stock is currently owned by institutional investors.

HighPeak Energy Price Performance

Shares of HPK stock traded down $0.12 on Monday, reaching $14.20. The company had a trading volume of 292,126 shares, compared to its average volume of 321,445. The stock has a market capitalization of $1.80 billion, a PE ratio of 11.28 and a beta of 0.73. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 0.59. The business’s 50-day moving average is $14.32 and its 200 day moving average is $14.76. HighPeak Energy has a one year low of $12.47 and a one year high of $17.48.

HighPeak Energy (NASDAQ:HPK) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.12. The business had revenue of $271.60 million for the quarter, compared to analyst estimates of $270.18 million. HighPeak Energy had a return on equity of 14.83% and a net margin of 15.94%. HighPeak Energy’s quarterly revenue was down 21.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS. Equities research analysts forecast that HighPeak Energy will post 0.77 EPS for the current fiscal year.

HighPeak Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 2nd will be paid a $0.04 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.16 annualized dividend and a dividend yield of 1.13%. HighPeak Energy’s payout ratio is 12.60%.

Analyst Upgrades and Downgrades

Separately, Truist Financial upped their price target on shares of HighPeak Energy from $12.00 to $14.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th.

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.