AlphaQuest LLC Increases Stock Position in HighPeak Energy, Inc. (NASDAQ:HPK)

AlphaQuest LLC raised its stake in shares of HighPeak Energy, Inc. (NASDAQ:HPK) by 509.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,045 shares of the company’s stock after purchasing an additional 6,726 shares during the period. AlphaQuest LLC’s holdings in HighPeak Energy were worth $118,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HPK. State Street Corp lifted its holdings in HighPeak Energy by 135.1% during 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 in the last quarter. Bank of New York Mellon Corp lifted its holdings in HighPeak Energy by 54.3% during the fourth quarter. Bank of New York Mellon Corp now owns 467,294 shares of the company’s stock valued at $6,869,000 after purchasing an additional 164,398 shares in the last quarter. Geode Capital Management LLC lifted its holdings in 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 purchasing an additional 82,988 shares in the last quarter. Denali Advisors LLC raised its position in shares of HighPeak Energy by 9.5% in the fourth quarter. Denali Advisors LLC now owns 457,829 shares of the company’s stock valued at $6,730,000 after buying an additional 39,783 shares during the last quarter. Finally, Sanders Morris Harris LLC raised its position in shares of HighPeak Energy by 11.4% in the fourth 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. 24.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Truist Financial reduced their target price on shares of HighPeak Energy from $15.00 to $13.00 and set a “hold” rating for the company in a research report on Thursday, March 13th.

HighPeak Energy Price Performance

Shares of NASDAQ HPK opened at $12.08 on Wednesday. The firm has a 50-day simple moving average of $13.53 and a 200-day simple moving average of $14.12. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 9.51 and a beta of 0.76. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 0.59. HighPeak Energy, Inc. has a 52 week low of $10.66 and a 52 week high of $17.48.

HighPeak Energy (NASDAQ:HPK) last released its quarterly earnings data on Monday, March 10th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.07). HighPeak Energy had a return on equity of 14.83% and a net margin of 15.94%. The firm had revenue of $234.81 million for the quarter, compared to analyst estimates of $247.32 million. During the same quarter in the previous year, the business posted $0.66 earnings per share. HighPeak Energy’s revenue for the quarter was down 22.0% on a year-over-year basis. On average, equities analysts predict that HighPeak Energy, Inc. will post 0.78 earnings per share for the current fiscal year.

HighPeak Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 3rd will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.32%. The ex-dividend date is Monday, March 3rd. HighPeak Energy’s payout ratio is currently 23.88%.

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.