AQR Capital Management LLC Sells 56,947 Shares of HighPeak Energy, Inc. (NASDAQ:HPK)

AQR Capital Management LLC decreased its position in HighPeak Energy, Inc. (NASDAQ:HPK) by 67.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,331 shares of the company’s stock after selling 56,947 shares during the quarter. AQR Capital Management LLC’s holdings in HighPeak Energy were worth $384,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in HPK. Blue Trust Inc. bought a new position in shares of HighPeak Energy in the 2nd quarter worth approximately $40,000. EverSource Wealth Advisors LLC purchased a new position in HighPeak Energy during the first quarter valued at $44,000. Innealta Capital LLC bought a new stake in shares of HighPeak Energy during the 2nd quarter valued at $86,000. Solstein Capital LLC grew its position in shares of HighPeak Energy by 33.3% in the 2nd quarter. Solstein Capital LLC now owns 8,000 shares of the company’s stock worth $112,000 after buying an additional 2,000 shares during the period. Finally, Encompass More Asset Management bought a new position in shares of HighPeak Energy in the 2nd quarter worth about $146,000. 24.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at HighPeak Energy

In other news, CEO Jack Hightower bought 17,743 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was purchased at an average cost of $15.50 per share, with a total value of $275,016.50. Following the transaction, the chief executive officer now directly owns 4,805,350 shares in the company, valued at $74,482,925. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders have bought 203,821 shares of company stock valued at $3,154,206. Insiders own 77.50% of the company’s stock.

HighPeak Energy Price Performance

HPK opened at $14.10 on Wednesday. The business’s 50-day moving average is $14.89 and its two-hundred day moving average is $14.98. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.93 and a quick ratio of 0.90. HighPeak Energy, Inc. has a 1 year low of $12.20 and a 1 year high of $18.42. The firm has a market capitalization of $1.80 billion, a PE ratio of 11.37 and a beta of 0.68.

HighPeak Energy (NASDAQ:HPK) last released its earnings results on Monday, August 5th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.22). The firm had revenue of $275.30 million during the quarter, compared to analysts’ expectations of $282.56 million. HighPeak Energy had a net margin of 14.05% and a return on equity of 15.99%. During the same quarter last year, the business earned $0.28 EPS. The business’s revenue was up 14.3% compared to the same quarter last year. Research analysts anticipate that HighPeak Energy, Inc. will post 0.91 earnings per share for the current fiscal year.

HighPeak Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 3rd were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Tuesday, September 3rd. HighPeak Energy’s dividend payout ratio is currently 12.90%.

Wall Street Analyst Weigh In

Separately, Truist Financial reduced their price target on shares of HighPeak Energy from $14.00 to $12.00 and set a “hold” rating for the company in a research note on Monday, September 30th.

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.