Arrowstreet Capital Limited Partnership Buys New Position in HighPeak Energy, Inc. (NASDAQ:HPK)

Arrowstreet Capital Limited Partnership purchased a new position in HighPeak Energy, Inc. (NASDAQ:HPK) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 31,468 shares of the company’s stock, valued at approximately $463,000.

A number of other institutional investors have also recently made changes to their positions in the stock. State Street Corp boosted its stake in HighPeak Energy by 135.1% in the third quarter. State Street Corp now owns 707,425 shares of the company’s stock worth $9,819,000 after buying an additional 406,536 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of HighPeak Energy by 54.3% in the 4th quarter. Bank of New York Mellon Corp now owns 467,294 shares of the company’s stock worth $6,869,000 after acquiring an additional 164,398 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of HighPeak Energy by 6.7% in the 4th quarter. Vanguard Group Inc. now owns 2,158,851 shares of the company’s stock valued at $31,735,000 after purchasing an additional 135,792 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of HighPeak Energy by 17.3% during the 3rd 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 during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of HighPeak Energy by 11.2% during the 4th quarter. American Century Companies Inc. now owns 714,060 shares of the company’s stock valued at $10,497,000 after purchasing an additional 71,802 shares during the last quarter. Institutional investors own 24.13% of the company’s stock.

HighPeak Energy Trading Up 2.7 %

Shares of HPK opened at $8.70 on Monday. The stock has a market capitalization of $1.10 billion, a P/E ratio of 6.85 and a beta of 0.82. HighPeak Energy, Inc. has a twelve month low of $7.82 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. The firm has a fifty day simple moving average of $12.25 and a two-hundred day simple moving average of $13.63.

HighPeak Energy (NASDAQ:HPK) last posted its earnings results 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). The business had revenue of $234.81 million during the quarter, compared to the consensus estimate of $247.32 million. HighPeak Energy had a return on equity of 14.83% and a net margin of 15.94%. The firm’s revenue for the quarter was down 22.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 earnings per share. On average, research analysts anticipate that HighPeak Energy, Inc. will post 0.78 EPS for the current year.

HighPeak Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 3rd were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend was Monday, March 3rd. HighPeak Energy’s payout ratio is 23.88%.

Analyst Ratings Changes

HPK has been the topic of a number of recent research reports. Bank of America began coverage on HighPeak Energy in a research note on Monday, April 7th. They set an “underperform” rating and a $10.00 price objective on the stock. Truist Financial decreased their price target on HighPeak Energy from $15.00 to $13.00 and set a “hold” rating on the stock in a research note on Thursday, March 13th.

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.