Short Interest in HighPeak Energy, Inc. (NASDAQ:HPK) Rises By 29.8%

HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 5,530,000 shares, an increase of 29.8% from the February 13th total of 4,260,000 shares. Approximately 29.7% of the company's stock are sold short. Based on an average daily volume of 264,000 shares, the days-to-cover ratio is presently 20.9 days.

HighPeak Energy Stock Performance

NASDAQ HPK traded down $0.17 during mid-day trading on Friday, reaching $12.35. 63,824 shares of the stock were exchanged, compared to its average volume of 292,812. The business's 50 day moving average is $13.46 and its 200-day moving average is $14.10. HighPeak Energy has a 1 year low of $10.66 and a 1 year high of $17.48. The company has a market capitalization of $1.56 billion, a P/E ratio of 9.73 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.93 and a current ratio of 0.96.

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 for the quarter, missing analysts' consensus estimates of $0.13 by ($0.07). The company had revenue of $234.81 million for the quarter, compared to analyst estimates of $247.32 million. HighPeak Energy had a return on equity of 14.83% and a net margin of 15.94%. The business's revenue was down 22.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 earnings per share. On average, equities research analysts forecast that HighPeak Energy will post 0.78 EPS for the current fiscal year.

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HighPeak Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 3rd will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Monday, March 3rd. HighPeak Energy's dividend payout ratio is currently 23.88%.

Wall Street Analysts Forecast Growth

Separately, Truist Financial dropped their target price 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.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of HighPeak Energy by 5.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 29,829 shares of the company's stock valued at $438,000 after purchasing an additional 1,608 shares during the period. Two Sigma Investments LP boosted its stake in shares of HighPeak Energy by 32.2% in the fourth quarter. Two Sigma Investments LP now owns 58,877 shares of the company's stock valued at $865,000 after purchasing an additional 14,329 shares during the period. Numerai GP LLC boosted its stake in shares of HighPeak Energy by 36.4% in the fourth quarter. Numerai GP LLC now owns 55,173 shares of the company's stock valued at $811,000 after purchasing an additional 14,720 shares during the period. Lazard Asset Management LLC purchased a new position in shares of HighPeak Energy in the fourth quarter valued at approximately $270,000. Finally, Deutsche Bank AG boosted its stake in shares of HighPeak Energy by 176.7% in the fourth quarter. Deutsche Bank AG now owns 20,510 shares of the company's stock valued at $301,000 after purchasing an additional 13,098 shares during the period. Hedge funds and other institutional investors own 24.13% of the company's stock.

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.