Bank of New York Mellon Corp Has $6.87 Million Stock Position in HighPeak Energy, Inc. (NASDAQ:HPK)

Bank of New York Mellon Corp lifted its stake in HighPeak Energy, Inc. (NASDAQ:HPK - Free Report) by 54.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 467,294 shares of the company's stock after acquiring an additional 164,398 shares during the period. Bank of New York Mellon Corp owned 0.37% of HighPeak Energy worth $6,869,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its position 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 valued at $9,819,000 after purchasing an additional 406,536 shares during the last quarter. Geode Capital Management LLC boosted its stake in HighPeak Energy by 17.3% during the 3rd quarter. Geode Capital Management LLC now owns 563,822 shares of the company's stock valued at $7,827,000 after purchasing an additional 82,988 shares during the period. Sanders Morris Harris LLC grew its holdings in HighPeak Energy by 11.4% in the 4th quarter. Sanders Morris Harris LLC now owns 361,646 shares of the company's stock valued at $5,253,000 after buying an additional 37,000 shares during the last quarter. Empowered Funds LLC increased its position in HighPeak Energy by 5.1% in the 4th quarter. Empowered Funds LLC now owns 182,743 shares of the company's stock worth $2,686,000 after buying an additional 8,855 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of HighPeak Energy by 24.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 182,274 shares of the company's stock worth $2,530,000 after buying an additional 35,483 shares during the last quarter. 24.13% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Separately, Truist Financial dropped their price objective 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 Stock Performance

Shares of NASDAQ:HPK traded up $0.46 during trading on Wednesday, hitting $12.54. 184,514 shares of the stock were exchanged, compared to its average volume of 264,879. The company's fifty day simple moving average is $13.53 and its 200-day simple moving average is $14.12. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 9.88 and a beta of 0.76. HighPeak Energy, Inc. has a 1-year low of $10.66 and a 1-year 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.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last released 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). HighPeak Energy had a net margin of 15.94% and a return on equity of 14.83%. The company had revenue of $234.81 million for the quarter, compared to analyst estimates of $247.32 million. During the same period in the previous year, the firm posted $0.66 earnings per share. The firm's revenue for the quarter was down 22.0% compared to the same quarter last year. Sell-side analysts expect that HighPeak Energy, Inc. will post 0.78 EPS for the current fiscal year.

HighPeak Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 3rd will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Monday, March 3rd. HighPeak Energy's payout ratio is presently 23.88%.

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.