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HighPeak Energy (NASDAQ:HPK) Shares Up 5.6%

Financial News Live · Sep 14, 2022 12:11

HighPeak Energy, Inc. (NASDAQ:HPK – Get Rating)'s share price shot up 5.6% on Wednesday . The stock traded as high as $28.35 and last traded at $28.35. 706 shares traded hands during mid-day trading, a decline of 100% from the average session volume of 315,504 shares. The stock had previously closed at $26.84.

HighPeak Energy Trading Up 5.6 %

The company has a 50 day simple moving average of $23.74 and a 200 day simple moving average of $25.86. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.51 and a current ratio of 0.54. The company has a market capitalization of $2.97 billion, a PE ratio of 29.82 and a beta of 0.62.

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HighPeak Energy (NASDAQ:HPK – Get Rating) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.76 by $0.02. HighPeak Energy had a return on equity of 27.24% and a net margin of 24.13%. The business had revenue of $201.43 million for the quarter, compared to analyst estimates of $168.04 million. Analysts anticipate that HighPeak Energy, Inc. will post 3.96 earnings per share for the current year.

HighPeak Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Investors of record on Monday, August 1st were issued a $0.025 dividend. The ex-dividend date of this dividend was Friday, July 29th. This represents a $0.10 annualized dividend and a yield of 0.35%. HighPeak Energy's dividend payout ratio (DPR) is currently 11.11%.

Insider Activity at HighPeak Energy

In other news, CFO Steven W. Tholen bought 10,000 shares of the company's stock in a transaction on Friday, July 1st. The stock was bought at an average cost of $24.65 per share, with a total value of $246,500.00. Following the transaction, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $246,500. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, 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 on Friday, July 1st. The stock was bought at an average cost of $24.65 per share, with a total value of $246,500.00. Following the transaction, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $246,500. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder John Paul Dejoria bought 2,313,744 shares of the company's 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 owns 7,813,744 shares in the company, valued at $168,855,007.84. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 2,323,753 shares of company stock worth $50,246,754. Company insiders own 88.60% of the company's stock.

Hedge Funds Weigh In On HighPeak Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC purchased a new stake in HighPeak Energy in the second quarter valued at approximately $409,000. State Street Corp raised its position in shares of HighPeak Energy by 65.8% in the second quarter. State Street Corp now owns 100,841 shares of the company's stock valued at $2,584,000 after buying an additional 40,025 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in shares of 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 buying an additional 28,100 shares during the last quarter. Renaissance Technologies LLC grew its holdings 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 during the period. Finally, Northern Trust Corp grew its holdings 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 during the period. 13.69% of the stock is owned by institutional investors and hedge funds.

HighPeak Energy Company Profile

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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.