KLP Kapitalforvaltning AS Makes New Investment in HighPeak Energy, Inc. (NASDAQ:HPK)

KLP Kapitalforvaltning AS purchased a new stake in HighPeak Energy, Inc. (NASDAQ:HPK) in the 4th quarter, Holdings Channel reports. The firm purchased 7,600 shares of the company’s stock, valued at approximately $112,000.

Other large investors also recently modified their holdings of the company. American Century Companies Inc. raised its position in HighPeak Energy by 11.2% in the 4th quarter. American Century Companies Inc. now owns 714,060 shares of the company’s stock valued at $10,497,000 after buying an additional 71,802 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of HighPeak Energy in the 4th quarter valued at about $153,000. Creative Financial Designs Inc. ADV grew its holdings in shares of HighPeak Energy by 2.8% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 303,774 shares of the company’s stock valued at $4,465,000 after acquiring an additional 8,400 shares in the last quarter. AlphaQuest LLC increased its position in shares of HighPeak Energy by 509.9% in the fourth quarter. AlphaQuest LLC now owns 8,045 shares of the company’s stock valued at $118,000 after acquiring an additional 6,726 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in HighPeak Energy during the fourth quarter worth about $148,000. 24.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Bank of America began coverage on HighPeak Energy in a research report on Monday. They set an “underperform” rating and a $10.00 price target on the stock. Truist Financial lowered their target price on shares of HighPeak Energy from $15.00 to $13.00 and set a “hold” rating on the stock in a report on Thursday, March 13th.

HighPeak Energy Price Performance

Shares of NASDAQ HPK opened at $8.47 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average price is $12.36 and its two-hundred day moving average price is $13.68. The company has a market cap of $1.07 billion, a PE ratio of 6.67 and a beta of 0.82. HighPeak Energy, Inc. has a twelve month low of $7.82 and a twelve month high of $17.48.

HighPeak Energy (NASDAQ:HPK) last posted its earnings results on Monday, March 10th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). HighPeak Energy had a return on equity of 14.83% and a net margin of 15.94%. The business had revenue of $234.81 million for the quarter, compared to analyst estimates of $247.32 million. During the same period in the previous year, the firm posted $0.66 earnings per share. The firm’s revenue was down 22.0% compared to the same quarter last year. On average, analysts predict 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 was paid on Tuesday, March 25th. Stockholders of record on Monday, March 3rd were given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Monday, March 3rd. HighPeak Energy’s payout ratio is presently 23.88%.

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.