Denali Advisors LLC Decreases Stake in HighPeak Energy, Inc. (NASDAQ:HPK)

Denali Advisors LLC cut its stake in shares of HighPeak Energy, Inc. (NASDAQ:HPK) by 16.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 177,500 shares of the company’s stock after selling 34,000 shares during the period. Denali Advisors LLC’s holdings in HighPeak Energy were worth $2,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HPK. Kennedy Capital Management LLC purchased a new stake in HighPeak Energy during the third quarter valued at approximately $10,396,000. GSA Capital Partners LLP purchased a new stake in shares of HighPeak Energy in the third quarter worth approximately $2,318,000. Vanguard Group Inc. raised its holdings in shares of HighPeak Energy by 850.3% in the third quarter. Vanguard Group Inc. now owns 2,297,335 shares of the company’s stock worth $38,779,000 after buying an additional 2,055,576 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of HighPeak Energy in the fourth quarter worth approximately $174,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of HighPeak Energy in the fourth quarter worth approximately $117,000. 24.13% of the stock is currently owned by hedge funds and other institutional investors.

HighPeak Energy Trading Up 3.8 %

NASDAQ:HPK traded up $0.54 during midday trading on Wednesday, hitting $14.93. The stock had a trading volume of 178,243 shares, compared to its average volume of 339,189. HighPeak Energy, Inc. has a one year low of $10.58 and a one year high of $18.42. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 11.60 and a beta of 0.69. The stock has a 50-day moving average of $14.48 and a 200 day moving average of $14.77. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 0.65.

HighPeak Energy (NASDAQ:HPK) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). HighPeak Energy had a return on equity of 16.58% and a net margin of 14.64%. The firm had revenue of $287.80 million during the quarter, compared to the consensus estimate of $284.38 million. During the same period last year, the company earned $0.39 EPS. The firm’s revenue for the quarter was up 28.6% compared to the same quarter last year. As a group, sell-side analysts forecast that HighPeak Energy, Inc. will post 1.33 EPS for the current year.

HighPeak Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Monday, June 3rd were paid a $0.04 dividend. The ex-dividend date was Monday, June 3rd. This represents a $0.16 annualized dividend and a yield of 1.07%. HighPeak Energy’s dividend payout ratio (DPR) is currently 12.90%.

Wall Street Analyst Weigh In

Separately, Truist Financial upgraded HighPeak Energy from a “sell” rating to a “hold” rating and increased their price target for the stock from $10.00 to $13.00 in a report on Thursday, May 23rd.

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.