HighPeak Energy, Inc. (NASDAQ:HPK) Stock Position Lessened by Wolverine Asset Management LLC

Wolverine Asset Management LLC reduced its stake in HighPeak Energy, Inc. (NASDAQ:HPK) by 23.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,597 shares of the company’s stock after selling 1,109 shares during the period. Wolverine Asset Management LLC’s holdings in HighPeak Energy were worth $51,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in HPK. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in HighPeak Energy during the fourth quarter worth about $117,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of HighPeak Energy in the 4th quarter worth approximately $174,000. Vanguard Group Inc. lifted its stake in HighPeak Energy by 850.3% during the third quarter. Vanguard Group Inc. now owns 2,297,335 shares of the company’s stock valued at $38,779,000 after purchasing an additional 2,055,576 shares during the last quarter. GSA Capital Partners LLP bought a new stake in HighPeak Energy during the third quarter worth approximately $2,318,000. Finally, Kennedy Capital Management LLC acquired a new position in HighPeak Energy in the third quarter worth approximately $10,396,000. Institutional investors and hedge funds own 24.13% of the company’s stock.

Wall Street Analyst Weigh In

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

HighPeak Energy Price Performance

HPK stock opened at $15.02 on Monday. HighPeak Energy, Inc. has a one year low of $10.44 and a one year high of $20.20. The firm has a 50-day moving average of $15.66 and a two-hundred day moving average of $15.34. The firm has a market capitalization of $1.93 billion, a PE ratio of 9.51 and a beta of 0.63. The company has a current ratio of 1.14, a quick ratio of 1.12 and a debt-to-equity ratio of 0.66.

HighPeak Energy (NASDAQ:HPK) last issued its quarterly earnings results on Wednesday, March 6th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.57 by $0.09. HighPeak Energy had a net margin of 19.42% and a return on equity of 17.70%. The business had revenue of $301.15 million during the quarter, compared to the consensus estimate of $329.85 million. On average, analysts forecast that HighPeak Energy, Inc. will post 1.6 earnings per share for the current year.

HighPeak Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 1st were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.07%. This is a positive change from HighPeak Energy’s previous quarterly dividend of $0.03. The ex-dividend date was Thursday, February 29th. HighPeak Energy’s payout ratio is presently 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.