HighPeak Energy (NASDAQ:HPK) Releases Quarterly Earnings Results, Misses Estimates By $0.23 EPS

HighPeak Energy (NASDAQ:HPK) released its quarterly earnings data on Wednesday. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.23), Zacks reports. HighPeak Energy had a net margin of 12.59% and a return on equity of 7.10%. The business had revenue of $188.86 million for the quarter, compared to the consensus estimate of $224.48 million. During the same quarter last year, the firm earned $0.35 EPS. The company’s revenue for the quarter was down 30.5% on a year-over-year basis.

HighPeak Energy Stock Performance

HighPeak Energy stock traded down $0.76 during mid-day trading on Thursday, reaching $5.36. 510,485 shares of the company’s stock were exchanged, compared to its average volume of 380,935. The firm has a market capitalization of $676.06 million, a PE ratio of 6.27 and a beta of 1.09. The business’s fifty day simple moving average is $7.03 and its 200 day simple moving average is $8.58. The company has a quick ratio of 0.82, a current ratio of 0.87 and a debt-to-equity ratio of 0.62. HighPeak Energy has a one year low of $5.18 and a one year high of $15.72.

HighPeak Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Monday, December 1st will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.16 annualized dividend and a dividend yield of 3.0%. HighPeak Energy’s payout ratio is presently 18.60%.

Wall Street Analysts Forecast Growth

Several research firms have commented on HPK. Roth Capital began coverage on HighPeak Energy in a research note on Monday, October 13th. They issued a “buy” rating and a $12.00 target price on the stock. Wall Street Zen lowered HighPeak Energy from a “hold” rating to a “sell” rating in a research report on Sunday, October 26th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of HighPeak Energy in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, HighPeak Energy currently has a consensus rating of “Hold” and an average price target of $11.67.

Institutional Investors Weigh In On HighPeak Energy

Hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC raised its position in HighPeak Energy by 1.9% during the 1st quarter. Empowered Funds LLC now owns 186,174 shares of the company’s stock valued at $2,357,000 after purchasing an additional 3,431 shares during the last quarter. Strs Ohio purchased a new stake in HighPeak Energy during the first quarter valued at $60,000. Rhumbline Advisers increased its position in HighPeak Energy by 23.6% during the second quarter. Rhumbline Advisers now owns 25,483 shares of the company’s stock valued at $250,000 after acquiring an additional 4,864 shares during the last quarter. Raymond James Financial Inc. bought a new position in HighPeak Energy in the 2nd quarter worth $49,000. Finally, Nebula Research & Development LLC raised its holdings in HighPeak Energy by 56.1% in the 2nd quarter. Nebula Research & Development LLC now owns 18,273 shares of the company’s stock worth $179,000 after purchasing an additional 6,568 shares during the period. Institutional investors own 24.13% of the company’s stock.

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.