Geode Capital Management LLC Raises Holdings in HighPeak Energy, Inc. (NASDAQ:HPK)

Geode Capital Management LLC lifted its position in HighPeak Energy, Inc. (NASDAQ:HPK) by 17.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 563,822 shares of the company’s stock after acquiring an additional 82,988 shares during the quarter. Geode Capital Management LLC’s holdings in HighPeak Energy were worth $7,827,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. boosted its position in shares of HighPeak Energy by 101.1% during the 3rd quarter. Blue Trust Inc. now owns 5,678 shares of the company’s stock valued at $80,000 after acquiring an additional 2,854 shares during the last quarter. SG Americas Securities LLC bought a new stake in HighPeak Energy in the third quarter worth $107,000. FMR LLC raised its stake in HighPeak Energy by 766.6% during the third quarter. FMR LLC now owns 8,016 shares of the company’s stock valued at $111,000 after purchasing an additional 7,091 shares in the last quarter. Victory Capital Management Inc. bought a new position in HighPeak Energy during the second quarter valued at $192,000. Finally, Rhumbline Advisers grew its stake in shares of HighPeak Energy by 42.9% in the 2nd quarter. Rhumbline Advisers now owns 21,672 shares of the company’s stock worth $305,000 after buying an additional 6,501 shares in the last quarter. 24.13% of the stock is currently owned by hedge funds and other institutional investors.

HighPeak Energy Stock Up 5.0 %

NASDAQ:HPK opened at $15.43 on Friday. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 12.15 and a beta of 0.73. HighPeak Energy, Inc. has a twelve month low of $12.47 and a twelve month high of $17.48. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 0.59. The stock has a fifty day simple moving average of $14.32 and a 200-day simple moving average of $14.75.

HighPeak Energy (NASDAQ:HPK) last issued its earnings results on Monday, November 4th. The company reported $0.35 earnings per share for the quarter, topping 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 business had revenue of $271.60 million during the quarter, compared to analysts’ expectations of $270.18 million. During the same period in the prior year, the business earned $0.46 EPS. The business’s revenue for the quarter was down 21.4% compared to the same quarter last year. Analysts anticipate that HighPeak Energy, Inc. will post 0.77 EPS for the current year.

HighPeak Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Monday, December 2nd were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Monday, December 2nd. HighPeak Energy’s payout ratio is currently 12.60%.

Analyst Ratings Changes

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

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.