Pekin Hardy Strauss Inc. Decreases Position in HighPeak Energy, Inc. (NASDAQ:HPK)

Pekin Hardy Strauss Inc. lowered its position in HighPeak Energy, Inc. (NASDAQ:HPK) by 26.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,350 shares of the company’s stock after selling 11,000 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in HighPeak Energy were worth $435,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC purchased a new position in shares of HighPeak Energy during the 1st quarter worth approximately $44,000. Blue Trust Inc. acquired a new stake in HighPeak Energy during the 2nd quarter valued at $40,000. Solstein Capital LLC increased its position in HighPeak Energy by 33.3% during the second quarter. Solstein Capital LLC now owns 8,000 shares of the company’s stock worth $112,000 after buying an additional 2,000 shares in the last quarter. Encompass More Asset Management acquired a new position in shares of HighPeak Energy in the second quarter worth $146,000. Finally, Innealta Capital LLC purchased a new stake in shares of HighPeak Energy in the second quarter valued at $86,000. Institutional investors and hedge funds own 24.13% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Truist Financial lifted their price objective on HighPeak Energy from $12.00 to $14.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th.

HighPeak Energy Stock Performance

NASDAQ:HPK opened at $15.54 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.96 and a quick ratio of 0.93. The firm has a market cap of $1.97 billion, a PE ratio of 12.24 and a beta of 0.69. The firm has a 50 day simple moving average of $14.39 and a 200-day simple moving average of $14.78. HighPeak Energy, Inc. has a 1-year low of $12.20 and a 1-year high of $17.48.

HighPeak Energy (NASDAQ:HPK) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.12. HighPeak Energy had a return on equity of 14.83% and a net margin of 15.94%. The company had revenue of $271.60 million during the quarter, compared to the consensus estimate of $270.18 million. During the same period in the previous year, the firm posted $0.46 EPS. HighPeak Energy’s revenue was down 21.4% on a year-over-year basis. On average, equities analysts expect that HighPeak Energy, Inc. will post 0.65 EPS for the current year.

HighPeak Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 2nd will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.16 annualized dividend and a yield of 1.03%. HighPeak Energy’s dividend payout ratio (DPR) is presently 12.60%.

Insiders Place Their Bets

In related news, CEO Jack Hightower purchased 17,743 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were bought at an average price of $15.50 per share, with a total value of $275,016.50. Following the completion of the purchase, the chief executive officer now directly owns 4,805,350 shares in the company, valued at approximately $74,482,925. This trade represents a 0.37 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders have acquired 203,821 shares of company stock valued at $3,154,206. Insiders own 77.50% of the company’s stock.

HighPeak Energy Company 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.