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HighPeak Energy, Inc. Forecasted to Earn Q4 2022 Earnings of $1.07 Per Share (NASDAQ:HPK)

Defense World · Sep 24, 2022 02:11

HighPeak Energy, Inc. (NASDAQ:HPK – Get Rating) – Research analysts at Seaport Res Ptn cut their Q4 2022 EPS estimates for HighPeak Energy in a note issued to investors on Wednesday, September 21st. Seaport Res Ptn analyst N. Pope now anticipates that the company will earn $1.07 per share for the quarter, down from their prior forecast of $1.20. The consensus estimate for HighPeak Energy's current full-year earnings is $3.96 per share.

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HighPeak Energy (NASDAQ:HPK – Get Rating) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.02. The business had revenue of $201.43 million for the quarter, compared to analysts' expectations of $168.04 million. HighPeak Energy had a net margin of 24.13% and a return on equity of 27.24%.

HighPeak Energy Price Performance

Shares of HPK opened at $20.12 on Friday. The firm's 50-day simple moving average is $23.89 and its two-hundred day simple moving average is $25.93. HighPeak Energy has a fifty-two week low of $8.90 and a fifty-two week high of $38.21. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.51 and a current ratio of 0.54. The stock has a market cap of $2.20 billion, a PE ratio of 22.36 and a beta of 0.62.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp bought a new stake in shares of HighPeak Energy during the 4th quarter valued at $7,837,000. 1492 Capital Management LLC bought a new stake in shares of HighPeak Energy during the 4th quarter valued at $4,443,000. Invesco Ltd. grew its stake in HighPeak Energy by 140.5% during the first quarter. Invesco Ltd. now owns 283,603 shares of the company's stock valued at $6,296,000 after acquiring an additional 165,665 shares in the last quarter. BlackRock Inc. grew its stake in HighPeak Energy by 3.0% during the first quarter. BlackRock Inc. now owns 260,762 shares of the company's stock valued at $5,790,000 after acquiring an additional 7,489 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in HighPeak Energy by 1,004.2% during the second quarter. Renaissance Technologies LLC now owns 132,500 shares of the company's stock valued at $3,395,000 after acquiring an additional 120,500 shares in the last quarter. 13.69% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Steven W. Tholen acquired 10,000 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were bought at an average price of $24.65 per share, for a total transaction of $246,500.00. Following the completion of the transaction, the chief financial officer now directly owns 10,000 shares in the company, valued at $246,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Steven W. Tholen acquired 10,000 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were bought at an average price of $24.65 per share, for a total transaction of $246,500.00. Following the completion of the transaction, the chief financial officer now directly owns 10,000 shares in the company, valued at $246,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael L. Hollis acquired 3,500 shares of the stock in a transaction that occurred on Friday, September 23rd. The shares were bought at an average price of $20.20 per share, for a total transaction of $70,700.00. Following the transaction, the president now owns 237,033 shares of the company's stock, valued at $4,788,066.60. The disclosure for this purchase can be found here. Insiders have bought a total of 2,327,253 shares of company stock worth $50,317,454 over the last 90 days. 88.60% of the stock is currently owned by insiders.

HighPeak Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Monday, August 1st were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Friday, July 29th. HighPeak Energy's payout ratio is 11.11%.

About HighPeak Energy

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HighPeak Energy, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids reserves in the Midland Basin in West Texas. As of December 31, 2021, the company had approximately 64,213 MBoe of proved reserves.