VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in HighPeak Energy, Inc. $HPK

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of HighPeak Energy, Inc. (NASDAQ:HPK) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 33,700 shares of the company’s stock, valued at approximately $330,000.

Other large investors have also recently added to or reduced their stakes in the company. Strs Ohio bought a new position in HighPeak Energy during the 1st quarter worth about $60,000. OMERS ADMINISTRATION Corp bought a new position in HighPeak Energy during the 1st quarter worth about $134,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of HighPeak Energy in the 1st quarter valued at about $159,000. Cornerstone Investment Partners LLC bought a new position in shares of HighPeak Energy in the 1st quarter valued at about $168,000. Finally, Quantbot Technologies LP bought a new position in shares of HighPeak Energy in the 1st quarter valued at about $216,000. Institutional investors own 24.13% of the company’s stock.

HighPeak Energy Trading Down 2.5%

Shares of NASDAQ:HPK opened at $6.98 on Friday. HighPeak Energy, Inc. has a 52-week low of $6.60 and a 52-week high of $15.72. The company has a market capitalization of $880.39 million, a P/E ratio of 8.12 and a beta of 1.21. The company has a 50-day simple moving average of $7.22 and a 200 day simple moving average of $8.74. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.82 and a current ratio of 0.87.

HighPeak Energy (NASDAQ:HPK) last issued its earnings results on Monday, August 11th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). The firm had revenue of $200.40 million during the quarter, compared to analyst estimates of $210.87 million. HighPeak Energy had a net margin of 12.59% and a return on equity of 7.10%. The company’s revenue for the quarter was down 27.2% on a year-over-year basis. During the same quarter last year, the business posted $0.28 earnings per share. Sell-side analysts forecast that HighPeak Energy, Inc. will post 0.78 earnings per share for the current year.

HighPeak Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.04 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $0.16 annualized dividend and a yield of 2.3%. HighPeak Energy’s dividend payout ratio (DPR) is 18.60%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HPK. Weiss Ratings restated a “sell (d+)” rating on shares of HighPeak Energy in a report on Wednesday, October 8th. Roth Capital began coverage on HighPeak Energy in a report on Monday, October 13th. They issued a “buy” rating and a $12.00 price objective for the company. Finally, Wall Street Zen cut HighPeak Energy from a “hold” rating to a “sell” rating in a report on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $11.67.

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.