HighPeak Energy, Inc. $HPK Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in HighPeak Energy by 52.5%, holding 47,108 shares post-sale, valued at approximately $596,000.
• HighPeak Energy reported a $0.10 EPS in its latest quarter, missing estimates, with revenue down 27.2% year-over-year.
• The company announced a quarterly dividend of $0.04 per share, with a dividend yield of 2.2%.

Goldman Sachs Group Inc. lessened its stake in HighPeak Energy, Inc. (NASDAQ:HPK - Free Report) by 52.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,108 shares of the company's stock after selling 52,139 shares during the quarter. Goldman Sachs Group Inc.'s holdings in HighPeak Energy were worth $596,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of HPK. BNP Paribas Financial Markets acquired a new position in shares of HighPeak Energy in the 4th quarter valued at about $26,000. Deutsche Bank AG increased its stake in shares of HighPeak Energy by 176.7% in the 4th quarter. Deutsche Bank AG now owns 20,510 shares of the company's stock valued at $301,000 after purchasing an additional 13,098 shares in the last quarter. Two Sigma Investments LP increased its stake in shares of HighPeak Energy by 32.2% in the 4th quarter. Two Sigma Investments LP now owns 58,877 shares of the company's stock valued at $865,000 after purchasing an additional 14,329 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of HighPeak Energy by 5.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 29,829 shares of the company's stock valued at $438,000 after purchasing an additional 1,608 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of HighPeak Energy by 126.1% in the 1st quarter. SG Americas Securities LLC now owns 31,728 shares of the company's stock valued at $402,000 after purchasing an additional 17,693 shares in the last quarter. Institutional investors and hedge funds own 24.13% of the company's stock.

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 research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $11.50.

HighPeak Energy Stock Up 5.9%

NASDAQ:HPK opened at $7.34 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.87 and a debt-to-equity ratio of 0.62. The stock's fifty day moving average is $7.95 and its two-hundred day moving average is $9.45. HighPeak Energy, Inc. has a 52 week low of $6.60 and a 52 week high of $15.72. The stock has a market capitalization of $925.79 million, a price-to-earnings ratio of 8.53 and a beta of 1.24.

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

HighPeak Energy Announces Dividend

The business also recently disclosed 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. This represents a $0.16 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, September 2nd. HighPeak Energy's dividend payout ratio (DPR) is presently 18.60%.

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.

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