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

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

HighPeak Energy Price Performance

Shares of NASDAQ:HPK traded down $0.30 during trading hours on Wednesday, hitting $14.22. 438,432 shares of the company’s stock traded hands, compared to its average volume of 330,477. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.90 and a current ratio of 0.93. The company’s fifty day simple moving average is $14.45 and its two-hundred day simple moving average is $14.79. HighPeak Energy has a 52 week low of $12.20 and a 52 week high of $17.48. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 11.20 and a beta of 0.69.

HighPeak Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 2nd will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Monday, December 2nd. HighPeak Energy’s payout ratio is 12.60%.

Insider Activity at HighPeak Energy

In related news, CEO Jack Hightower acquired 100,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was bought at an average price of $15.54 per share, for a total transaction of $1,554,000.00. Following the transaction, the chief executive officer now owns 4,959,255 shares of the company’s stock, valued at approximately $77,066,822.70. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired a total of 203,821 shares of company stock valued at $3,154,206 over the last ninety days. Insiders own 77.50% of the company’s stock.

Analysts Set New Price Targets

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

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.