HighPeak Energy (NASDAQ:HPK) Posts Earnings Results, Misses Expectations By $0.23 EPS
HighPeak Energy (NASDAQ:HPK) reported quarterly earnings of $0.03 EPS, missing estimates of $0.26 by $0.23. Revenue was $188.86 million, below the expected $224.48 million. The company has a net margin of 12.59% and a return on equity of 7.10%. HighPeak Energy's stock traded down to $6.12, with a market cap of $771.92 million. The company also announced a quarterly dividend of $0.04 per share, yielding 2.6%. Analyst ratings vary, with a consensus rating of "Hold" and a target price of $11.67.
HighPeak Energy (NASDAQ:HPK - Get Free Report) issued its quarterly earnings data on Wednesday. The company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.23), Zacks reports. HighPeak Energy had a return on equity of 7.10% and a net margin of 12.59%.The company had revenue of $188.86 million for the quarter, compared to analyst estimates of $224.48 million.
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HighPeak Energy Price Performance
- HighPeak Energy, Inc. Insiders Continue To Buy
HPK stock traded down $0.08 during trading on Wednesday, reaching $6.12. 501,127 shares of the company were exchanged, compared to its average volume of 504,181. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.87 and a quick ratio of 0.82. HighPeak Energy has a twelve month low of $6.10 and a twelve month high of $15.72. The company has a 50-day moving average of $7.06 and a two-hundred day moving average of $8.60. The company has a market capitalization of $771.92 million, a price-to-earnings ratio of 7.56 and a beta of 1.09.
HighPeak Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Tuesday, September 2nd were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Tuesday, September 2nd. HighPeak Energy's dividend payout ratio is currently 18.60%.
Analyst Ratings Changes
A number of brokerages recently commented on HPK. Wall Street Zen lowered shares of HighPeak Energy from a "hold" rating to a "sell" rating in a report on Sunday, October 26th. Weiss Ratings reiterated a "sell (d)" rating on shares of HighPeak Energy in a research note on Friday, October 31st. Finally, Roth Capital initiated coverage on shares of HighPeak Energy in a research note on Monday, October 13th. They issued a "buy" rating and a $12.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $11.67.
Check Out Our Latest Research Report on HPK
Hedge Funds Weigh In On HighPeak Energy
Several institutional investors and hedge funds have recently added to or reduced their stakes in HPK. Raymond James Financial Inc. bought a new stake in shares of HighPeak Energy in the 2nd quarter valued at $49,000. Strs Ohio acquired a new position in HighPeak Energy during the first quarter worth $60,000. Arrowstreet Capital Limited Partnership acquired a new position in HighPeak Energy during the 2nd quarter valued at about $109,000. Nebula Research & Development LLC increased its holdings 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 purchasing an additional 6,568 shares in the last quarter. Finally, Creative Planning purchased a new stake in shares of HighPeak Energy in the second quarter worth approximately $225,000. 24.13% of the stock is currently owned by institutional investors and hedge funds.
HighPeak Energy Company Profile
(Get Free Report)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.
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