HighPeak Energy (NASDAQ:HPK) Announces Earnings Results, Misses Estimates By $0.22 EPS

HighPeak Energy (NASDAQ:HPK) released its quarterly earnings results on Monday. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.22), Briefing.com reports. HighPeak Energy had a return on equity of 16.58% and a net margin of 14.64%. The business had revenue of $275.30 million for the quarter, compared to the consensus estimate of $282.56 million. During the same period in the prior year, the business posted $0.28 earnings per share. HighPeak Energy’s revenue was up 14.3% compared to the same quarter last year.

HighPeak Energy Price Performance

HPK stock traded up $0.26 during mid-day trading on Wednesday, hitting $14.07. The stock had a trading volume of 321,244 shares, compared to its average volume of 329,509. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.65. HighPeak Energy has a 52 week low of $12.20 and a 52 week high of $18.42. The firm has a market capitalization of $1.80 billion, a P/E ratio of 11.14 and a beta of 0.69. The firm has a fifty day simple moving average of $15.06 and a 200 day simple moving average of $15.06.

HighPeak Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 3rd will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.14%. The ex-dividend date is Tuesday, September 3rd. HighPeak Energy’s dividend payout ratio is currently 12.90%.

Analysts Set New Price Targets

Separately, Truist Financial raised their price target on shares of HighPeak Energy from $13.00 to $14.00 and gave the stock a “hold” rating in a research report on Monday, July 22nd.

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.