Pekin Hardy Strauss Inc. Lowers Stock Holdings in HighPeak Energy, Inc. (NASDAQ:HPK)

Pekin Hardy Strauss Inc. cut its stake in shares of HighPeak Energy, Inc. (NASDAQ:HPK) by 14.3% in the 4th quarter, Holdings Channel reports. The fund owned 41,350 shares of the company’s stock after selling 6,900 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in HighPeak Energy were worth $589,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in HighPeak Energy in the fourth quarter valued at about $117,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of HighPeak Energy during the 4th quarter worth approximately $174,000. Vanguard Group Inc. lifted its holdings in shares of HighPeak Energy by 850.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,297,335 shares of the company’s stock valued at $38,779,000 after buying an additional 2,055,576 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of HighPeak Energy in the third quarter valued at approximately $2,318,000. Finally, Kennedy Capital Management LLC acquired a new position in HighPeak Energy during the third quarter worth $10,396,000. 24.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Truist Financial reduced their target price on HighPeak Energy from $11.00 to $10.00 and set a “sell” rating for the company in a report on Friday, April 5th.

HighPeak Energy Trading Down 5.4 %

Shares of HPK opened at $14.21 on Wednesday. The firm’s 50-day moving average is $15.61 and its two-hundred day moving average is $15.31. HighPeak Energy, Inc. has a twelve month low of $10.44 and a twelve month high of $19.96. The company has a current ratio of 1.14, a quick ratio of 1.12 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $1.82 billion, a P/E ratio of 8.99 and a beta of 0.63.

HighPeak Energy (NASDAQ:HPK) last released its quarterly earnings results on Wednesday, March 6th. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.09. The business had revenue of $301.15 million for the quarter, compared to analysts’ expectations of $329.85 million. HighPeak Energy had a return on equity of 17.70% and a net margin of 19.42%. On average, research analysts predict that HighPeak Energy, Inc. will post 1.74 earnings per share for the current fiscal year.

HighPeak Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 1st were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Thursday, February 29th. This is an increase from HighPeak Energy’s previous quarterly dividend of $0.03. HighPeak Energy’s dividend payout ratio is 10.13%.

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.