HighPeak Energy (NASDAQ:HPK) Shares Gap Up After Insider Buying Activity

HighPeak Energy, Inc. (NASDAQ:HPK) gapped up before the market opened on Monday following insider buying activity. The stock had previously closed at $15.12, but opened at $15.81. HighPeak Energy shares last traded at $16.31, with a volume of 197,445 shares changing hands.

Specifically, CEO Jack Hightower bought 100,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were purchased at an average price of $15.54 per share, for a total transaction of $1,554,000.00. Following the acquisition, the chief executive officer now directly owns 4,959,255 shares of the company’s stock, valued at approximately $77,066,822.70. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Analyst Upgrades and Downgrades

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

HighPeak Energy Stock Performance

The firm’s 50 day moving average price is $15.38 and its 200-day moving average price is $15.08. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 13.10 and a beta of 0.68. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.93 and a quick ratio of 0.90.

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

HighPeak Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.16 annualized dividend and a yield of 0.97%. HighPeak Energy’s dividend payout ratio is 12.90%.

Institutional Trading of HighPeak Energy

Hedge funds have recently modified their holdings of the company. Intrinsic Edge Capital Management LLC acquired a new position in shares of HighPeak Energy in the 4th quarter valued at $3,636,000. Denali Advisors LLC increased its stake in HighPeak Energy by 80.2% in the second quarter. Denali Advisors LLC now owns 319,800 shares of the company’s stock valued at $4,496,000 after acquiring an additional 142,300 shares during the period. Interval Partners LP acquired a new position in HighPeak Energy in the second quarter worth about $1,684,000. American Century Companies Inc. lifted its stake in HighPeak Energy by 26.8% during the second 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 period. Finally, Wasatch Advisors LP boosted its holdings in HighPeak Energy by 15.6% during the first quarter. Wasatch Advisors LP now owns 521,150 shares of the company’s stock valued at $8,219,000 after purchasing an additional 70,385 shares in the last quarter. Institutional investors own 24.13% of the company’s stock.

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.