Short Interest in HighPeak Energy, Inc. (NASDAQ:HPK) Drops By 17.0%

HighPeak Energy, Inc. (NASDAQ:HPK) was the target of a significant drop in short interest in March. As of March 15th, there was short interest totalling 4,590,000 shares, a drop of 17.0% from the February 28th total of 5,530,000 shares. Based on an average daily trading volume, of 273,600 shares, the days-to-cover ratio is presently 16.8 days. Currently, 24.8% of the company’s stock are sold short.

HighPeak Energy Stock Up 1.0 %

HighPeak Energy stock traded up $0.13 during trading hours on Wednesday, hitting $12.97. The company had a trading volume of 162,603 shares, compared to its average volume of 296,465. The firm’s fifty day moving average is $13.11 and its 200-day moving average is $14.00. HighPeak Energy has a fifty-two week low of $10.66 and a fifty-two week high of $17.48. The firm has a market capitalization of $1.64 billion, a P/E ratio of 10.21 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.96 and a quick ratio of 0.93.

HighPeak Energy (NASDAQ:HPK) last announced its quarterly earnings results on Monday, March 10th. The company reported $0.06 earnings per share (EPS) 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 business had revenue of $234.81 million during the quarter, compared to the consensus estimate of $247.32 million. During the same period last year, the firm earned $0.66 EPS. The company’s quarterly revenue was down 22.0% compared to the same quarter last year. On average, research analysts forecast that HighPeak Energy will post 0.78 earnings per share for the current year.

HighPeak Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 3rd were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Monday, March 3rd. HighPeak Energy’s payout ratio is 23.88%.

Analysts Set New Price Targets

Separately, Truist Financial decreased their price target on shares of HighPeak Energy from $15.00 to $13.00 and set a “hold” rating for the company in a report on Thursday, March 13th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in shares of HighPeak Energy by 24.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 182,274 shares of the company’s stock valued at $2,530,000 after acquiring an additional 35,483 shares during the period. FMR LLC grew its stake in shares of HighPeak Energy by 766.6% in the 3rd 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 period. State Street Corp lifted its position in HighPeak Energy by 135.1% in the 3rd quarter. State Street Corp now owns 707,425 shares of the company’s stock valued at $9,819,000 after acquiring an additional 406,536 shares in the last quarter. Barclays PLC boosted its holdings in 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 during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of HighPeak Energy by 17.3% in the 3rd quarter. Geode Capital Management LLC now owns 563,822 shares of the company’s stock worth $7,827,000 after buying an additional 82,988 shares during the last quarter. 24.13% of the stock is currently owned by institutional investors and hedge funds.

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.