HighPeak Energy, Inc. (NASDAQ:HPK) Short Interest Up 16.4% in November

HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report) was the recipient of a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 6,260,000 shares, an increase of 16.4% from the November 15th total of 5,380,000 shares. Currently, 33.7% of the company's stock are sold short. Based on an average daily trading volume, of 337,100 shares, the days-to-cover ratio is currently 18.6 days.

Analyst Upgrades and Downgrades

Separately, Truist Financial upped their target price on HighPeak Energy from $12.00 to $14.00 and gave the stock a "hold" rating in a research report on Tuesday, November 12th.

Insider Buying and Selling at HighPeak Energy

In related news, CEO Jack Hightower acquired 100,000 shares of the business's stock in a transaction that occurred on Friday, September 20th. The shares were acquired at an average cost of $15.54 per share, for a total transaction of $1,554,000.00. Following the completion of the purchase, the chief executive officer now directly owns 4,959,255 shares in the company, valued at $77,066,822.70. This trade represents a 2.06 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 77.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp lifted its holdings in shares of HighPeak Energy by 135.1% in the third quarter. State Street Corp now owns 707,425 shares of the company's stock worth $9,819,000 after acquiring an additional 406,536 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of HighPeak Energy by 17.3% during the third quarter. Geode Capital Management LLC now owns 563,822 shares of the company's stock valued at $7,827,000 after acquiring an additional 82,988 shares during the last quarter. American Century Companies Inc. raised its position in HighPeak Energy by 26.8% during the 2nd quarter. American Century Companies Inc. now owns 520,698 shares of the company's stock worth $7,321,000 after purchasing an additional 110,099 shares during the last quarter. Sanders Morris Harris LLC acquired a new stake in shares of HighPeak Energy in the third quarter valued at about $4,506,000. Finally, Denali Advisors LLC boosted its stake in shares of HighPeak Energy by 80.2% in the 2nd quarter. Denali Advisors LLC now owns 319,800 shares of the company's stock valued at $4,496,000 after purchasing an additional 142,300 shares during the last quarter. Institutional investors and hedge funds own 24.13% of the company's stock.

HighPeak Energy Price Performance

Shares of NASDAQ HPK traded down $0.12 during trading on Monday, reaching $14.20. The company had a trading volume of 292,126 shares, compared to its average volume of 321,445. The stock has a market cap of $1.80 billion, a PE ratio of 11.28 and a beta of 0.73. HighPeak Energy has a 52 week low of $12.47 and a 52 week high of $17.48. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.93 and a current ratio of 0.96. The business's 50 day moving average price is $14.32 and its 200-day moving average price is $14.76.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.12. HighPeak Energy had a return on equity of 14.83% and a net margin of 15.94%. The firm had revenue of $271.60 million for the quarter, compared to the consensus estimate of $270.18 million. During the same quarter last year, the business posted $0.46 EPS. The company's revenue for the quarter was down 21.4% on a year-over-year basis. Analysts expect that HighPeak Energy will post 0.77 earnings per share for the current year.

HighPeak Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 2nd will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Monday, December 2nd. HighPeak Energy's dividend payout ratio (DPR) is currently 12.60%.

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.