HighPeak Energy (NASDAQ:HPK) Shares Down 8.9%

HighPeak Energy, Inc. (NASDAQ:HPKGet Rating)’s stock price dropped 8.9% on Friday . The stock traded as low as $24.14 and last traded at $24.51. Approximately 4,798 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 261,143 shares. The stock had previously closed at $26.89.

HighPeak Energy Stock Down 10.4 %

The company has a debt-to-equity ratio of 0.54, a current ratio of 0.54 and a quick ratio of 0.51. The firm’s 50 day moving average is $23.87 and its two-hundred day moving average is $25.97. The firm has a market capitalization of $2.52 billion, a P/E ratio of 26.77 and a beta of 0.62.

HighPeak Energy (NASDAQ:HPKGet Rating) last released its earnings results on Monday, August 8th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.02. HighPeak Energy had a net margin of 24.13% and a return on equity of 27.24%. The business had revenue of $201.43 million during the quarter, compared to analysts’ expectations of $168.04 million. Research analysts predict that HighPeak Energy, Inc. will post 3.96 EPS for the current year.

HighPeak Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Monday, August 1st were given a dividend of $0.025 per share. The ex-dividend date was Friday, July 29th. This represents a $0.10 dividend on an annualized basis and a yield of 0.42%. HighPeak Energy’s dividend payout ratio (DPR) is 11.11%.

Insiders Place Their Bets

In related news, major shareholder John Paul Dejoria acquired 2,313,744 shares of HighPeak Energy stock in a transaction on Monday, August 22nd. The stock was purchased at an average cost of $21.61 per share, with a total value of $50,000,007.84. Following the completion of the transaction, the insider now directly owns 7,813,744 shares in the company, valued at approximately $168,855,007.84. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Steven W. Tholen bought 10,000 shares of the company’s stock in a transaction dated Friday, July 1st. The stock was bought at an average price of $24.65 per share, with a total value of $246,500.00. Following the completion of the acquisition, the chief financial officer now owns 10,000 shares of the company’s stock, valued at $246,500. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder John Paul Dejoria bought 2,313,744 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were purchased at an average cost of $21.61 per share, with a total value of $50,000,007.84. Following the acquisition, the insider now directly owns 7,813,744 shares of the company’s stock, valued at approximately $168,855,007.84. The disclosure for this purchase can be found here. Insiders purchased a total of 2,323,753 shares of company stock valued at $50,246,754 over the last ninety days. 88.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On HighPeak Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC acquired a new stake in shares of HighPeak Energy during the second quarter worth $409,000. State Street Corp lifted its holdings in shares of HighPeak Energy by 65.8% during the second quarter. State Street Corp now owns 100,841 shares of the company’s stock worth $2,584,000 after buying an additional 40,025 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in HighPeak Energy by 139.8% in the second quarter. Cubist Systematic Strategies LLC now owns 48,202 shares of the company’s stock valued at $1,235,000 after purchasing an additional 28,100 shares in the last quarter. Renaissance Technologies LLC raised its stake in HighPeak Energy by 1,004.2% in the second quarter. Renaissance Technologies LLC now owns 132,500 shares of the company’s stock valued at $3,395,000 after purchasing an additional 120,500 shares in the last quarter. Finally, Northern Trust Corp raised its stake in HighPeak Energy by 15.0% in the second quarter. Northern Trust Corp now owns 67,481 shares of the company’s stock valued at $1,729,000 after purchasing an additional 8,826 shares in the last quarter. Institutional investors and hedge funds own 13.69% of the company’s stock.

About HighPeak Energy

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HighPeak Energy, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids reserves in the Midland Basin in West Texas. As of December 31, 2021, the company had approximately 64,213 MBoe of proved reserves.

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