HighPeak Energy (NASDAQ:HPK) Posts Earnings Results, Beats Expectations By $0.12 EPS

HighPeak Energy (NASDAQ:HPK) issued its quarterly earnings results on Monday. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.12, Briefing.com reports. HighPeak Energy had a return on equity of 15.99% and a net margin of 14.05%. The business had revenue of $271.60 million during the quarter, compared to analysts’ expectations of $270.18 million. During the same period in the previous year, the company posted $0.46 earnings per share. The firm’s revenue for the quarter was down 21.4% compared to the same quarter last year.

HighPeak Energy Trading Up 4.2 %

Shares of HighPeak Energy stock opened at $13.06 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.62. HighPeak Energy has a 12-month low of $12.20 and a 12-month high of $17.66. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 10.88 and a beta of 0.69. The firm’s 50-day moving average price is $14.47 and its two-hundred day moving average price is $14.80.

Analysts Set New Price Targets

Separately, Truist Financial cut their target price on HighPeak Energy from $14.00 to $12.00 and set a “hold” rating for the company in a research report on Monday, September 30th.

Insider Activity

In other news, CEO Jack Hightower purchased 36,078 shares of HighPeak Energy stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $15.25 per share, for a total transaction of $550,189.50. Following the transaction, the chief executive officer now owns 4,859,255 shares of the company’s stock, valued at approximately $74,103,638.75. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last ninety days, insiders bought 203,821 shares of company stock worth $3,154,206. 77.50% of the stock is currently owned by corporate insiders.

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.