Raymond James Financial Services Advisors Inc. Invests $174,000 in HighPeak Energy, Inc. (NASDAQ:HPK)

Raymond James Financial Services Advisors Inc. acquired a new stake in shares of HighPeak Energy, Inc. (NASDAQ:HPK) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,225 shares of the company’s stock, valued at approximately $174,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. U.S. Capital Wealth Advisors LLC lifted its position in HighPeak Energy by 89.9% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 13,885,172 shares of the company’s stock worth $234,382,000 after acquiring an additional 6,571,428 shares during the period. Vanguard Group Inc. raised its position in HighPeak Energy by 850.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,297,335 shares of the company’s stock worth $38,779,000 after buying an additional 2,055,576 shares during the last quarter. Kennedy Capital Management LLC acquired a new stake in HighPeak Energy during the 3rd quarter valued at approximately $10,396,000. GSA Capital Partners LLP purchased a new stake in shares of HighPeak Energy in the 3rd quarter valued at $2,318,000. Finally, Denali Advisors LLC boosted its holdings in shares of HighPeak Energy by 63.9% in the 3rd quarter. Denali Advisors LLC now owns 211,582 shares of the company’s stock valued at $3,572,000 after acquiring an additional 82,500 shares during the last quarter. 24.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Truist Financial reduced their target price on shares of 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 Stock Performance

Shares of HPK stock opened at $14.88 on Friday. HighPeak Energy, Inc. has a 52-week low of $10.44 and a 52-week high of $20.20. The company has a quick ratio of 1.12, a current ratio of 1.14 and a debt-to-equity ratio of 0.66. The stock has a market cap of $1.91 billion, a PE ratio of 9.42 and a beta of 0.63. The business has a 50-day simple moving average of $15.68 and a 200-day simple moving average of $15.36.

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

HighPeak Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 1st were paid a $0.04 dividend. This is a boost from HighPeak Energy’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Thursday, February 29th. HighPeak Energy’s payout ratio is currently 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.