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

HighPeak Energy (NASDAQ:HPK) released its quarterly earnings data on Monday. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.12, Briefing.com reports. The firm had revenue of $271.60 million during the quarter, compared to the consensus estimate of $270.18 million. HighPeak Energy had a net margin of 15.94% and a return on equity of 14.94%. The firm’s revenue was down 21.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.46 earnings per share.

HighPeak Energy Stock Performance

NASDAQ HPK traded down $0.30 during trading hours on Wednesday, hitting $14.22. The company had a trading volume of 438,432 shares, compared to its average volume of 330,477. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.62. The firm has a market cap of $1.82 billion, a P/E ratio of 11.20 and a beta of 0.69. HighPeak Energy has a fifty-two week low of $12.20 and a fifty-two week high of $17.48. The business has a fifty day simple moving average of $14.45 and a 200-day simple moving average of $14.79.

HighPeak Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 2nd will be given a dividend of $0.04 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.16 dividend on an annualized basis and a yield of 1.13%. HighPeak Energy’s dividend payout ratio is currently 12.60%.

Analysts Set New Price Targets

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

Insider Transactions at HighPeak Energy

In other news, CEO Jack Hightower acquired 100,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were purchased at an average cost of $15.54 per share, for a total transaction of $1,554,000.00. Following the transaction, the chief executive officer now directly owns 4,959,255 shares in the company, valued at $77,066,822.70. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders bought 203,821 shares of company stock worth $3,154,206. Insiders own 77.50% of the company’s stock.

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.