HighPeak Energy (NASDAQ:HPK) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS

HighPeak Energy (NASDAQ:HPK) issued its earnings results on Monday. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.09, Zacks reports. The business had revenue of $257.45 million for the quarter, compared to the consensus estimate of $255.33 million. HighPeak Energy had a net margin of 15.94% and a return on equity of 14.83%. The company’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.37 EPS.

HighPeak Energy Trading Up 8.8%

HighPeak Energy stock opened at $9.94 on Tuesday. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 7.83 and a beta of 0.99. HighPeak Energy has a 52 week low of $7.82 and a 52 week high of $17.48. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.93 and a current ratio of 0.96. The company has a 50 day moving average price of $10.28 and a 200 day moving average price of $12.81.

HighPeak Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 3rd were given a $0.04 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.16 dividend on an annualized basis and a yield of 1.61%. HighPeak Energy’s dividend payout ratio is presently 23.88%.

Wall Street Analyst Weigh In

HPK has been the subject of several analyst reports. Bank of America began coverage on HighPeak Energy in a research report on Monday, April 7th. They issued an “underperform” rating and a $10.00 price objective for the company. Truist Financial lowered their target price on shares of HighPeak Energy from $15.00 to $13.00 and set a “hold” rating on the stock in a research report on Thursday, March 13th.

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.