Pekin Hardy Strauss Inc. Trims Stake in HighPeak Energy, Inc. (NASDAQ:HPK)

Pekin Hardy Strauss Inc. reduced its stake in HighPeak Energy, Inc. (NASDAQ:HPK) by 14.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,350 shares of the company’s stock after selling 6,900 shares during the period. Pekin Hardy Strauss Inc.’s holdings in HighPeak Energy were worth $589,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new stake in shares of HighPeak Energy in the 3rd quarter worth about $553,000. GSA Capital Partners LLP bought a new position in shares of HighPeak Energy during the third quarter valued at approximately $2,318,000. New York State Common Retirement Fund lifted its holdings in shares of HighPeak Energy by 59.8% during the third quarter. New York State Common Retirement Fund now owns 86,698 shares of the company’s stock valued at $1,463,000 after purchasing an additional 32,441 shares during the last quarter. Kennedy Capital Management LLC bought a new stake in shares of HighPeak Energy in the 3rd quarter worth approximately $10,396,000. Finally, Vanguard Group Inc. grew its stake in shares of HighPeak Energy by 850.3% in the 3rd 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 last quarter. 24.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Truist Financial reduced their target price on HighPeak Energy from $11.00 to $10.00 and set a “sell” rating for the company in a report on Friday, April 5th.

HighPeak Energy Trading Down 5.4 %

Shares of NASDAQ HPK opened at $14.21 on Wednesday. The stock has a market capitalization of $1.82 billion, a P/E ratio of 8.99 and a beta of 0.63. HighPeak Energy, Inc. has a 1-year low of $10.44 and a 1-year high of $19.96. The business’s 50 day moving average is $15.61 and its two-hundred day moving average is $15.31. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.14 and a quick ratio of 1.12.

HighPeak Energy (NASDAQ:HPK) last released its earnings results on Wednesday, March 6th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.09. HighPeak Energy had a net margin of 19.42% and a return on equity of 17.70%. The firm had revenue of $301.15 million during the quarter, compared to analyst estimates of $329.85 million. As a group, research analysts expect that HighPeak Energy, Inc. will post 1.74 EPS for the current year.

HighPeak Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 1st were paid a $0.04 dividend. This is an increase from HighPeak Energy’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Thursday, February 29th. HighPeak Energy’s dividend payout ratio is currently 10.13%.

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.