HighPeak Energy, Inc. (NASDAQ:HPK) Short Interest Up 11.3% in March

HighPeak Energy, Inc. (NASDAQ:HPK) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 3,940,000 shares, an increase of 11.3% from the March 15th total of 3,540,000 shares. Currently, 19.1% of the company’s stock are sold short. Based on an average daily trading volume, of 359,600 shares, the days-to-cover ratio is currently 11.0 days.

Hedge Funds Weigh In On HighPeak Energy

Several institutional investors and hedge funds have recently modified their holdings of HPK. Bank of New York Mellon Corp lifted its holdings in shares of HighPeak Energy by 2.4% in the 1st quarter. Bank of New York Mellon Corp now owns 75,951 shares of the company’s stock valued at $1,687,000 after buying an additional 1,759 shares during the period. Rhumbline Advisers acquired a new position in HighPeak Energy in the 1st quarter worth about $208,000. BlackRock Inc. raised its holdings in HighPeak Energy by 3.0% in the 1st quarter. BlackRock Inc. now owns 260,762 shares of the company’s stock worth $5,790,000 after purchasing an additional 7,489 shares during the period. Vanguard Group Inc. raised its holdings in HighPeak Energy by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 21,621 shares of the company’s stock worth $480,000 after purchasing an additional 1,218 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in HighPeak Energy by 13.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 11,965 shares of the company’s stock worth $266,000 after purchasing an additional 1,404 shares during the period. Institutional investors and hedge funds own 24.13% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Truist Financial dropped their target price on HighPeak Energy from $11.00 to $10.00 and set a “sell” rating on the stock in a research note on Friday, April 5th.

HighPeak Energy Stock Down 0.9 %

HighPeak Energy stock opened at $15.14 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.12 and a current ratio of 1.14. The business’s 50-day simple moving average is $15.59 and its two-hundred day simple moving average is $15.38. The company has a market cap of $1.94 billion, a PE ratio of 9.58 and a beta of 0.63. HighPeak Energy has a fifty-two week low of $10.44 and a fifty-two week high of $24.31.

HighPeak Energy (NASDAQ:HPK) last posted its quarterly earnings results on Wednesday, March 6th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.09. The business had revenue of $301.15 million for the quarter, compared to the consensus estimate of $329.85 million. HighPeak Energy had a return on equity of 17.70% and a net margin of 19.42%. Equities analysts anticipate that HighPeak Energy will post 1.6 EPS for the current year.

HighPeak Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 1st were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from HighPeak Energy’s previous quarterly dividend of $0.03. HighPeak Energy’s payout ratio is 10.13%.

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.