HighPeak Energy (NASDAQ:HPK) Issues Quarterly Earnings Results

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

HighPeak Energy Trading Down 1.0%

HPK traded down $0.10 during mid-day trading on Friday, hitting $9.82. 294,206 shares of the stock were exchanged, compared to its average volume of 307,712. The firm's fifty day moving average is $10.16 and its two-hundred day moving average is $12.73. HighPeak Energy has a 1-year low of $7.82 and a 1-year high of $17.48. The company has a market cap of $1.24 billion, a PE ratio of 7.73 and a beta of 0.99. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 0.59.

HighPeak Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Monday, June 2nd will be paid a $0.04 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.63%. HighPeak Energy's payout ratio is presently 18.18%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Bank of America started coverage on HighPeak Energy in a research note on Monday, April 7th. They issued an "underperform" rating and a $10.00 price target on the stock. Truist Financial lowered their target price on shares of HighPeak Energy from $15.00 to $13.00 and set a "hold" rating for the company in a research note on Thursday, March 13th.

Institutional Trading of HighPeak Energy

A hedge fund recently raised its stake in HighPeak Energy stock. Empowered Funds LLC lifted its holdings in HighPeak Energy, Inc. (NASDAQ:HPK - Free Report) by 1.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 186,174 shares of the company's stock after purchasing an additional 3,431 shares during the period. Empowered Funds LLC owned approximately 0.15% of HighPeak Energy worth $2,357,000 at the end of the most recent reporting period. 24.13% of the stock is owned by institutional investors.

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.