Empowered Funds LLC Has $2.41 Million Stake in HighPeak Energy, Inc. (NASDAQ:HPK)

Empowered Funds LLC grew its stake in shares of HighPeak Energy, Inc. (NASDAQ:HPK) by 5.4% in the third quarter, Holdings Channel reports. The institutional investor owned 173,888 shares of the company’s stock after purchasing an additional 8,844 shares during the period. Empowered Funds LLC’s holdings in HighPeak Energy were worth $2,414,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Solstein Capital LLC raised its position in shares of HighPeak Energy by 33.3% during the second quarter. Solstein Capital LLC now owns 8,000 shares of the company’s stock valued at $112,000 after buying an additional 2,000 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new position in shares of HighPeak Energy during the first quarter valued at about $44,000. Blue Trust Inc. acquired a new position in shares of HighPeak Energy during the second quarter valued at about $40,000. Dimensional Fund Advisors LP raised its position in shares of HighPeak Energy by 7.2% during the second quarter. Dimensional Fund Advisors LP now owns 51,758 shares of the company’s stock valued at $728,000 after buying an additional 3,497 shares during the last quarter. Finally, Innealta Capital LLC acquired a new position in shares of HighPeak Energy during the second quarter valued at about $86,000. Institutional investors and hedge funds own 24.13% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Jack Hightower purchased 17,743 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were acquired at an average cost 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 of the company’s stock, valued at $74,482,925. This trade represents a 0.37 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders have bought 203,821 shares of company stock valued at $3,154,206. 77.50% of the stock is currently owned by insiders.

HighPeak Energy Stock Performance

NASDAQ HPK opened at $14.67 on Wednesday. The stock has a market cap of $1.86 billion, a P/E ratio of 11.55 and a beta of 0.69. The company’s 50-day simple moving average is $14.30 and its 200 day simple moving average is $14.76. HighPeak Energy, Inc. has a twelve month low of $12.20 and a twelve month high of $17.48. 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 (NASDAQ:HPK) last issued its quarterly earnings data 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. The firm had revenue of $271.60 million for the quarter, compared to analysts’ expectations of $270.18 million. HighPeak Energy had a net margin of 15.94% and a return on equity of 14.83%. The company’s quarterly revenue was down 21.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 earnings per share. As a group, research analysts forecast that HighPeak Energy, Inc. will post 0.65 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 Monday, December 23rd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.04 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.16 annualized dividend and a yield of 1.09%. HighPeak Energy’s dividend payout ratio is 12.60%.

Analyst Upgrades and Downgrades

Separately, Truist Financial upped their target price on shares of HighPeak Energy from $12.00 to $14.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th.

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.