HighPeak Energy (NASDAQ:HPK) Shares Gap Up on Insider Buying Activity

HighPeak Energy, Inc. (NASDAQ:HPK)’s stock price gapped up before the market opened on Monday following insider buying activity. The stock had previously closed at $15.12, but opened at $15.81. HighPeak Energy shares last traded at $16.31, with a volume of 197,445 shares traded.

Specifically, CEO Jack Hightower bought 100,000 shares of the stock in a transaction on Friday, September 20th. The shares were purchased at an average price of $15.54 per share, with a total value of $1,554,000.00. Following the purchase, the chief executive officer now owns 4,959,255 shares in the company, valued at $77,066,822.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Ratings Changes

Separately, Truist Financial raised their target price on HighPeak Energy from $13.00 to $14.00 and gave the company a “hold” rating in a research note on Monday, July 22nd.

HighPeak Energy Stock Up 8.6 %

The firm has a 50-day moving average of $15.38 and a two-hundred day moving average of $15.08. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 13.10 and a beta of 0.68. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.62.

HighPeak Energy (NASDAQ:HPK) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.22). The company had revenue of $275.30 million for the quarter, compared to analyst estimates of $282.56 million. HighPeak Energy had a return on equity of 15.99% and a net margin of 14.05%. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 earnings per share. As a group, sell-side analysts anticipate that HighPeak Energy, Inc. will post 1.07 earnings per share for the current year.

HighPeak Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.16 annualized dividend and a dividend yield of 0.97%. HighPeak Energy’s dividend payout ratio is 12.90%.

Hedge Funds Weigh In On HighPeak Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Solstein Capital LLC raised its holdings in HighPeak Energy by 33.3% during the second quarter. Solstein Capital LLC now owns 8,000 shares of the company’s stock valued at $112,000 after buying an additional 2,000 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new position in shares of HighPeak Energy during the 1st quarter valued at about $44,000. Blue Trust Inc. bought a new position in shares of HighPeak Energy in the 2nd quarter valued at approximately $40,000. Dimensional Fund Advisors LP lifted its holdings in HighPeak Energy by 7.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 51,758 shares of the company’s stock worth $728,000 after purchasing an additional 3,497 shares during the last quarter. Finally, Register Financial Advisors LLC boosted its position in HighPeak Energy by 16.2% during the first quarter. Register Financial Advisors LLC now owns 43,000 shares of the company’s stock worth $678,000 after purchasing an additional 6,000 shares during the period. Institutional investors own 24.13% 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.