HighPeak Energy, Inc. (NASDAQ:HPK – Get Rating) – Equities research analysts at Seaport Res Ptn increased their Q2 2023 earnings estimates for HighPeak Energy in a research report issued to clients and investors on Tuesday, January 24th. Seaport Res Ptn analyst N. Pope now expects that the company will earn $1.06 per share for the quarter, up from their prior forecast of $1.04. The consensus estimate for HighPeak Energy's current full-year earnings is $2.80 per share. Seaport Res Ptn also issued estimates for HighPeak Energy's Q3 2023 earnings at $1.21 EPS, Q4 2023 earnings at $1.27 EPS, FY2023 earnings at $4.40 EPS, Q1 2024 earnings at $1.32 EPS and FY2024 earnings at $5.41 EPS.
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NASDAQ HPK opened at $29.86 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.54 and a current ratio of 0.57. The firm has a 50-day simple moving average of $23.03 and a 200 day simple moving average of $23.21. HighPeak Energy has a twelve month low of $16.81 and a twelve month high of $38.21. The stock has a market cap of $3.26 billion, a PE ratio of 17.88 and a beta of 0.70.
HighPeak Energy (NASDAQ:HPK – Get Rating) last released its quarterly earnings results on Monday, November 14th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.06. HighPeak Energy had a net margin of 34.53% and a return on equity of 33.37%. The company had revenue of $204.11 million during the quarter, compared to analysts' expectations of $217.65 million.Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in HPK. Point72 Hong Kong Ltd raised its position in HighPeak Energy by 81.3% in the third quarter. Point72 Hong Kong Ltd now owns 1,271 shares of the company's stock worth $28,000 after purchasing an additional 570 shares in the last quarter. Worth Asset Management LLC raised its position in HighPeak Energy by 116.6% in the fourth quarter. Worth Asset Management LLC now owns 1,282 shares of the company's stock worth $29,000 after purchasing an additional 690 shares in the last quarter. Essex Investment Management Co. LLC acquired a new position in HighPeak Energy in the second quarter worth about $44,000. Russell Investments Group Ltd. acquired a new stake in shares of HighPeak Energy during the second quarter worth approximately $71,000. Finally, Royal Bank of Canada increased its holdings in shares of HighPeak Energy by 8,721.1% during the third quarter. Royal Bank of Canada now owns 3,352 shares of the company's stock worth $73,000 after buying an additional 3,314 shares in the last quarter. Institutional investors and hedge funds own 19.60% of the company's stock.
Insider Activity at HighPeak Energy
In related news, CEO Jack Hightower bought 14,601 shares of HighPeak Energy stock in a transaction that occurred on Wednesday, December 21st. The stock was acquired at an average price of $21.98 per share, for a total transaction of $320,929.98. Following the completion of the purchase, the chief executive officer now owns 2,739,073 shares in the company, valued at $60,204,824.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other HighPeak Energy news, President Michael L. Hollis purchased 3,598 shares of the company's stock in a transaction that occurred on Thursday, November 17th. The stock was purchased at an average price of $22.46 per share, with a total value of $80,811.08. Following the completion of the transaction, the president now directly owns 237,033 shares of the company's stock, valued at approximately $5,323,761.18. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jack Hightower purchased 14,601 shares of the company's stock in a transaction that occurred on Wednesday, December 21st. The stock was acquired at an average cost of $21.98 per share, with a total value of $320,929.98. Following the transaction, the chief executive officer now directly owns 2,739,073 shares of the company's stock, valued at $60,204,824.54. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 90,401 shares of company stock worth $1,987,775. Company insiders own 88.60% of the company's stock.
HighPeak Energy Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, February 24th. Investors of record on Wednesday, February 1st will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.33%. The ex-dividend date is Tuesday, January 31st. HighPeak Energy's payout ratio is presently 5.99%.
About HighPeak Energy
(Get Rating)
Pure Acquisition Corp. engages in the provision of merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business combination. It focuses on energy industry with an emphasis on opportunities in the upstream oil and gas industry in North America. The company was founded on November 13, 2017 and is headquartered in Fort Worth, TX.
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