HighPeak Energy (NASDAQ:HPK) Announces Earnings Results

HighPeak Energy (NASDAQ:HPK) announced its earnings results on Wednesday. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.23), Zacks reports. HighPeak Energy had a return on equity of 4.23% and a net margin of 6.03%.The business had revenue of $188.86 million for the quarter, compared to analyst estimates of $224.48 million. During the same quarter in the previous year, the company earned $0.35 EPS. The business’s revenue for the quarter was down 30.5% on a year-over-year basis.

HighPeak Energy Price Performance

NASDAQ HPK traded up $0.60 during trading on Friday, hitting $5.84. 412,515 shares of the company’s stock were exchanged, compared to its average volume of 383,197. The company has a market cap of $736.60 million, a PE ratio of 16.22 and a beta of 1.09. The company has a current ratio of 0.87, a quick ratio of 0.82 and a debt-to-equity ratio of 0.62. HighPeak Energy has a fifty-two week low of $5.18 and a fifty-two week high of $15.72. The stock’s 50 day moving average price is $6.98 and its two-hundred day moving average price is $8.56.

HighPeak Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 1st will be paid 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 yield of 2.7%. HighPeak Energy’s payout ratio is presently 44.44%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Wall Street Zen downgraded HighPeak Energy from a “hold” rating to a “sell” rating in a research report on Sunday, October 26th. Roth Capital began coverage on HighPeak Energy in a research report on Monday, October 13th. They set a “buy” rating and a $12.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of HighPeak Energy in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, HighPeak Energy currently has an average rating of “Hold” and an average target price of $11.67.

Hedge Funds Weigh In On HighPeak Energy

A number of institutional investors have recently added to or reduced their stakes in HPK. Vanguard Group Inc. boosted its position in HighPeak Energy by 3.7% in the third quarter. Vanguard Group Inc. now owns 2,666,153 shares of the company’s stock valued at $18,850,000 after buying an additional 94,834 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of HighPeak Energy by 15.6% in the 2nd quarter. Lazard Asset Management LLC now owns 72,922 shares of the company’s stock valued at $714,000 after acquiring an additional 9,852 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of HighPeak Energy during the 2nd quarter valued at $49,000. Nebula Research & Development LLC grew its position in HighPeak Energy by 56.1% during the 2nd quarter. Nebula Research & Development LLC now owns 18,273 shares of the company’s stock worth $179,000 after acquiring an additional 6,568 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in HighPeak Energy by 4.7% in the 2nd quarter. Invesco Ltd. now owns 209,137 shares of the company’s stock worth $2,050,000 after purchasing an additional 9,444 shares in the last quarter. 24.13% of the stock is currently owned by institutional investors and hedge funds.

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.