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

HighPeak Energy (NASDAQ:HPK) released 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 company had revenue of $271.60 million during the quarter, compared to analysts’ expectations of $270.18 million. HighPeak Energy had a net margin of 15.94% and a return on equity of 14.94%. The business’s revenue was down 21.4% on a year-over-year basis. During the same quarter last year, the business earned $0.46 EPS.

HighPeak Energy Trading Down 0.1 %

Shares of HPK traded down $0.01 during mid-day trading on Thursday, hitting $14.21. The company had a trading volume of 33,132 shares, compared to its average volume of 329,101. The business’s 50-day simple moving average is $14.45 and its 200-day simple moving average is $14.79. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.62. HighPeak Energy has a 1-year low of $12.20 and a 1-year high of $17.48. The stock has a market cap of $1.82 billion, a PE ratio of 11.20 and a beta of 0.69.

HighPeak Energy Dividend Announcement

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

Insider Buying and Selling at HighPeak Energy

In other HighPeak Energy news, CEO Jack Hightower purchased 50,000 shares of HighPeak Energy stock in a transaction on Tuesday, August 27th. The shares were purchased at an average cost of $15.50 per share, with a total value of $775,000.00. Following the completion of the transaction, the chief executive officer now directly owns 4,722,863 shares in the company, valued at approximately $73,204,376.50. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired a total of 203,821 shares of company stock valued at $3,154,206 over the last ninety days. Corporate insiders own 77.50% of the company’s stock.

Analyst Ratings Changes

Separately, Truist Financial dropped their target price 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.

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.