Rhumbline Advisers Purchases 6,501 Shares of HighPeak Energy, Inc. (NASDAQ:HPK)

Rhumbline Advisers raised its position in HighPeak Energy, Inc. (NASDAQ:HPK) by 42.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,672 shares of the company’s stock after acquiring an additional 6,501 shares during the quarter. Rhumbline Advisers’ holdings in HighPeak Energy were worth $305,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Wasatch Advisors LP lifted its holdings in HighPeak Energy by 15.6% in the first quarter. Wasatch Advisors LP now owns 521,150 shares of the company’s stock valued at $8,219,000 after acquiring an additional 70,385 shares during the period. Intrinsic Edge Capital Management LLC purchased a new position in shares of HighPeak Energy during the 4th quarter valued at about $3,636,000. Empowered Funds LLC lifted its position in shares of HighPeak Energy by 49.6% during the 1st quarter. Empowered Funds LLC now owns 153,164 shares of the company’s stock valued at $2,415,000 after buying an additional 50,812 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of HighPeak Energy by 29.7% during the 1st quarter. GSA Capital Partners LLP now owns 127,460 shares of the company’s stock valued at $2,010,000 after buying an additional 29,177 shares in the last quarter. Finally, Swiss National Bank purchased a new position in shares of HighPeak Energy during the 4th quarter valued at about $721,000. Institutional investors own 24.13% of the company’s stock.

Wall Street Analyst Weigh In

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

HighPeak Energy Stock Up 3.9 %

HPK stock opened at $14.58 on Friday. HighPeak Energy, Inc. has a twelve month low of $12.20 and a twelve month high of $18.42. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.62. The stock has a market cap of $1.86 billion, a P/E ratio of 11.76 and a beta of 0.68. The business’s 50-day moving average price is $15.19 and its 200-day moving average price is $15.08.

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

HighPeak Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 3rd were issued a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.16 dividend on an annualized basis and a yield of 1.10%. HighPeak Energy’s dividend payout ratio is presently 12.90%.

Insider Buying and Selling

In other news, CEO Jack Hightower acquired 100,000 shares of HighPeak Energy stock in a transaction on Friday, September 20th. The shares were acquired 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 directly owns 4,959,255 shares in the company, valued at approximately $77,066,822.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last three months, insiders have acquired 203,821 shares of company stock valued at $3,154,206. Corporate insiders own 77.50% of the company’s stock.

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.