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

HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report) was the recipient of a significant drop in short interest during the month of 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 currently 16.8 days. Approximately 24.8% of the company's stock are short sold.

HighPeak Energy Stock Down 14.6 %

Shares of NASDAQ:HPK traded down $1.65 during mid-day trading on Friday, hitting $9.69. 495,039 shares of the company traded hands, compared to its average volume of 295,121. The stock has a 50-day moving average price of $12.96 and a two-hundred day moving average price of $13.94. HighPeak Energy has a 12-month low of $9.54 and a 12-month high of $17.48. The stock has a market cap of $1.22 billion, a P/E ratio of 7.63 and a beta of 0.82. 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 (NASDAQ:HPK - Get Free Report) last posted its quarterly earnings data on Monday, March 10th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.07). HighPeak Energy had a return on equity of 14.83% and a net margin of 15.94%. The firm had revenue of $234.81 million for the quarter, compared to analysts' expectations of $247.32 million. During the same period in the prior year, the firm earned $0.66 earnings per share. HighPeak Energy's revenue was down 22.0% compared to the same quarter last year. On average, equities 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 disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 3rd were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Monday, March 3rd. HighPeak Energy's payout ratio is 23.88%.

Institutional Investors Weigh In On HighPeak Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new position in shares of HighPeak Energy in the fourth quarter valued at approximately $26,000. FMR LLC grew its stake in 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 purchasing an additional 7,091 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of HighPeak Energy during the 4th quarter valued at $112,000. AlphaQuest LLC increased its position in shares of HighPeak Energy by 509.9% during the 4th quarter. AlphaQuest LLC now owns 8,045 shares of the company's stock valued at $118,000 after purchasing an additional 6,726 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of HighPeak Energy by 25.4% during the 4th quarter. Wells Fargo & Company MN now owns 9,180 shares of the company's stock worth $135,000 after purchasing an additional 1,857 shares during the period. Hedge funds and other institutional investors own 24.13% of the company's stock.

Wall Street Analyst Weigh In

Separately, Truist Financial dropped their price target on shares of HighPeak Energy from $15.00 to $13.00 and set a "hold" rating on the stock in a research 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.