HighPeak Energy, Inc. $HPK Shares Acquired by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has increased its stake in HighPeak Energy by 10%, owning approximately 1.88% of the company, valued at about $30 million.
• HighPeak Energy reported earnings per share of $0.10 for the last quarter, missing analysts' estimates by $0.01, with revenue declining 27.2% year-over-year.
• The company has announced a quarterly dividend of $0.04, representing an annualized yield of 2.1%.

Vanguard Group Inc. increased its holdings in shares of HighPeak Energy, Inc. (NASDAQ:HPK - Free Report) by 10.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,375,805 shares of the company's stock after acquiring an additional 216,954 shares during the period. Vanguard Group Inc. owned approximately 1.88% of HighPeak Energy worth $30,078,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new stake in HighPeak Energy in the fourth quarter valued at $26,000. Wells Fargo & Company MN boosted its stake in shares of HighPeak Energy by 25.4% during the fourth quarter. Wells Fargo & Company MN now owns 9,180 shares of the company's stock valued at $135,000 after acquiring an additional 1,857 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of HighPeak Energy by 1,262.5% during the first quarter. Exchange Traded Concepts LLC now owns 9,238 shares of the company's stock valued at $117,000 after acquiring an additional 8,560 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of HighPeak Energy during the fourth quarter valued at $148,000. Finally, Dark Forest Capital Management LP acquired a new stake in shares of HighPeak Energy during the fourth quarter valued at $153,000. Institutional investors and hedge funds own 24.13% of the company's stock.

HighPeak Energy Trading Down 0.8%

Shares of HighPeak Energy stock traded down $0.06 during trading hours on Monday, reaching $7.70. The stock had a trading volume of 366,799 shares, compared to its average volume of 606,980. The firm has a 50 day simple moving average of $8.90 and a two-hundred day simple moving average of $10.13. The firm has a market capitalization of $971.22 million, a price-to-earnings ratio of 8.95 and a beta of 1.24. The company has a current ratio of 0.87, a quick ratio of 0.82 and a debt-to-equity ratio of 0.62. HighPeak Energy, Inc. has a 1 year low of $7.00 and a 1 year high of $16.56.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.01). HighPeak Energy had a return on equity of 7.10% and a net margin of 12.59%.The firm had revenue of $200.40 million during the quarter, compared to analysts' expectations of $210.87 million. During the same quarter last year, the business earned $0.28 earnings per share. The business's revenue for the quarter was down 27.2% compared to the same quarter last year. As a group, equities research analysts anticipate that HighPeak Energy, Inc. will post 0.78 earnings per share for the current year.

HighPeak Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Tuesday, September 2nd will be paid a $0.04 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.1%. HighPeak Energy's dividend payout ratio (DPR) is 18.60%.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered HighPeak Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $11.50.

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.