Bank of New York Mellon Corp Has $4.46 Million Holdings in HighPeak Energy, Inc. (NASDAQ:HPK)

Bank of New York Mellon Corp cut its holdings in HighPeak Energy, Inc. (NASDAQ:HPK) by 8.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 317,235 shares of the company’s stock after selling 28,400 shares during the period. Bank of New York Mellon Corp owned about 0.25% of HighPeak Energy worth $4,460,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in HPK. Wasatch Advisors LP lifted its holdings in shares of HighPeak Energy by 15.6% during the first quarter. Wasatch Advisors LP now owns 521,150 shares of the company’s stock worth $8,219,000 after buying an additional 70,385 shares in the last quarter. Intrinsic Edge Capital Management LLC acquired a new position in HighPeak Energy in the fourth quarter valued at about $3,636,000. Empowered Funds LLC raised its stake in HighPeak Energy by 49.6% in the first quarter. Empowered Funds LLC now owns 153,164 shares of the company’s stock valued at $2,415,000 after purchasing an additional 50,812 shares in the last quarter. GSA Capital Partners LLP raised its stake in HighPeak Energy by 29.7% in the first quarter. GSA Capital Partners LLP now owns 127,460 shares of the company’s stock valued at $2,010,000 after purchasing an additional 29,177 shares in the last quarter. Finally, Swiss National Bank acquired a new position in HighPeak Energy in the fourth quarter valued at about $721,000. 24.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Truist Financial boosted their price target on HighPeak Energy from $13.00 to $14.00 and gave the company a “hold” rating in a research note on Monday, July 22nd.

HighPeak Energy Trading Down 0.5 %

Shares of NASDAQ HPK opened at $13.83 on Friday. The firm has a 50 day moving average price of $15.40 and a two-hundred day moving average price of $15.14. HighPeak Energy, Inc. has a 52-week low of $12.20 and a 52-week high of $18.42. The stock has a market cap of $1.77 billion, a P/E ratio of 11.15 and a beta of 0.68. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.90 and a current ratio of 0.93.

HighPeak Energy (NASDAQ:HPK) last released its quarterly earnings results on Monday, August 5th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.22). HighPeak Energy had a net margin of 14.05% and a return on equity of 15.99%. The company had revenue of $275.30 million for the quarter, compared to analyst estimates of $282.56 million. During the same quarter last year, the firm posted $0.28 EPS. HighPeak Energy’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities analysts forecast that HighPeak Energy, Inc. will post 1.07 EPS for the current year.

HighPeak Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 3rd will be issued a $0.04 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $0.16 annualized dividend and a dividend yield of 1.16%. HighPeak Energy’s payout ratio is currently 12.90%.

Insider Activity at HighPeak Energy

In other news, CEO Jack Hightower bought 17,743 shares of HighPeak Energy stock in a transaction that occurred on Thursday, August 29th. The shares were acquired at an average price of $15.50 per share, with a total value of $275,016.50. Following the completion of the purchase, the chief executive officer now directly owns 4,805,350 shares in the company, valued at $74,482,925. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought a total of 103,821 shares of company stock valued at $1,600,206 over the last 90 days. 77.50% of the stock is owned by insiders.

HighPeak Energy 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.