HighPeak Energy (NASDAQ:HPK) Posts Quarterly Earnings Results, Beats Estimates By $0.12 EPS

HighPeak Energy (NASDAQ:HPK) announced its quarterly earnings data on Monday. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.12, Briefing.com reports. The business had revenue of $271.60 million during the quarter, compared to analyst estimates of $270.18 million. HighPeak Energy had a net margin of 14.05% and a return on equity of 15.99%. The firm’s revenue for the quarter was down 21.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 earnings per share.

HighPeak Energy Price Performance

Shares of NASDAQ HPK traded up $0.08 during trading on Wednesday, reaching $14.60. The company had a trading volume of 41,991 shares, compared to its average volume of 328,633. HighPeak Energy has a 52 week low of $12.20 and a 52 week high of $17.48. The business’s 50 day moving average price is $14.47 and its 200-day moving average price is $14.80. The stock has a market cap of $1.87 billion, a PE ratio of 12.46 and a beta of 0.69. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.90 and a current ratio of 0.93.

HighPeak Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 2nd will be issued a $0.04 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.10%. HighPeak Energy’s dividend payout ratio is 13.33%.

Analyst Upgrades and Downgrades

Separately, Truist Financial reduced their price objective on shares of HighPeak Energy from $14.00 to $12.00 and set a “hold” rating for the company in a report on Monday, September 30th.

Insider Activity

In other news, CEO Jack Hightower acquired 17,743 shares of HighPeak Energy stock in a transaction on Thursday, August 29th. The shares were purchased at an average price of $15.50 per share, with a total value of $275,016.50. Following the acquisition, the chief executive officer now owns 4,805,350 shares in the company, valued at $74,482,925. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have purchased 203,821 shares of company stock valued at $3,154,206 over the last three months. 77.50% of the stock is owned by insiders.

HighPeak Energy Company Profile

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.