Arrowstreet Capital Limited Partnership Makes New Investment in HighPeak Energy, Inc. (NASDAQ:HPK)

Arrowstreet Capital Limited Partnership acquired a new position in HighPeak Energy, Inc. (NASDAQ:HPK - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 31,468 shares of the company's stock, valued at approximately $463,000.

Several other institutional investors and hedge funds also recently made changes to their positions in HPK. FMR LLC increased its holdings in shares of HighPeak Energy by 766.6% in the 3rd quarter. FMR LLC now owns 8,016 shares of the company's stock worth $111,000 after buying an additional 7,091 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in HighPeak Energy in the fourth quarter valued at $112,000. AlphaQuest LLC raised its position 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 purchasing an additional 6,726 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in HighPeak Energy during the fourth quarter valued at about $148,000. Finally, Intech Investment Management LLC bought a new stake in HighPeak Energy during the fourth quarter worth about $153,000. Institutional investors own 24.13% of the company's stock.

HighPeak Energy Trading Up 5.1 %

HighPeak Energy stock traded up $0.46 during trading hours on Friday, reaching $9.44. The company had a trading volume of 241,278 shares, compared to its average volume of 301,710. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 7.43 and a beta of 0.82. HighPeak Energy, Inc. has a 12-month low of $7.82 and a 12-month high of $17.48. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.96 and a quick ratio of 0.93. The company has a 50-day moving average price of $11.73 and a 200 day moving average price of $13.46.

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

HighPeak Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 3rd were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Monday, March 3rd. HighPeak Energy's payout ratio is 23.88%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Bank of America assumed coverage on HighPeak Energy in a report on Monday, April 7th. They set an "underperform" rating and a $10.00 price objective on the stock. Truist Financial reduced their target price on shares of HighPeak Energy from $15.00 to $13.00 and set a "hold" rating on the stock in a report on Thursday, March 13th.

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.