HighPeak Energy, Inc. (NASDAQ:HPK) to Post Q2 2024 Earnings of $0.29 Per Share, Seaport Res Ptn Forecasts

HighPeak Energy, Inc. (NASDAQ:HPK) – Analysts at Seaport Res Ptn dropped their Q2 2024 earnings estimates for HighPeak Energy in a report released on Thursday, May 23rd. Seaport Res Ptn analyst N. Pope now anticipates that the company will earn $0.29 per share for the quarter, down from their prior forecast of $0.30. The consensus estimate for HighPeak Energy’s current full-year earnings is $1.73 per share. Seaport Res Ptn also issued estimates for HighPeak Energy’s Q3 2024 earnings at $0.23 EPS.

HighPeak Energy (NASDAQ:HPK) last posted its earnings results on Wednesday, May 8th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business had revenue of $287.80 million during the quarter, compared to analysts’ expectations of $284.38 million. HighPeak Energy had a net margin of 14.64% and a return on equity of 16.58%. HighPeak Energy’s revenue for the quarter was up 28.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 EPS.

Separately, Truist Financial upgraded shares of HighPeak Energy from a “sell” rating to a “hold” rating and raised their price objective for the company from $10.00 to $13.00 in a research report on Thursday.

HighPeak Energy Stock Up 1.5 %

Shares of HighPeak Energy stock opened at $14.92 on Friday. HighPeak Energy has a 52-week low of $10.44 and a 52-week high of $18.42. The company has a 50 day moving average of $15.16 and a 200 day moving average of $14.97. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $1.91 billion, a P/E ratio of 12.03 and a beta of 0.67.

HighPeak Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 3rd will be given a $0.04 dividend. The ex-dividend date is Monday, June 3rd. This represents a $0.16 dividend on an annualized basis and a yield of 1.07%. HighPeak Energy’s payout ratio is currently 12.90%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of HPK. Susquehanna Fundamental Investments LLC acquired a new stake in HighPeak Energy in the first quarter worth approximately $287,000. Empowered Funds LLC boosted its stake in shares of HighPeak Energy by 49.6% during the 1st quarter. Empowered Funds LLC now owns 153,164 shares of the company’s stock valued at $2,415,000 after buying an additional 50,812 shares during the period. GSA Capital Partners LLP increased its position in HighPeak Energy by 29.7% in the 1st quarter. GSA Capital Partners LLP now owns 127,460 shares of the company’s stock worth $2,010,000 after purchasing an additional 29,177 shares during the last quarter. Wasatch Advisors LP lifted its position in shares of HighPeak Energy by 15.6% in the first quarter. Wasatch Advisors LP now owns 521,150 shares of the company’s stock worth $8,219,000 after buying an additional 70,385 shares during the last quarter. Finally, Register Financial Advisors LLC lifted its position in HighPeak Energy by 16.2% during the 1st quarter. Register Financial Advisors LLC now owns 43,000 shares of the company’s stock worth $678,000 after acquiring an additional 6,000 shares during the last quarter. Institutional investors own 24.13% of the company’s stock.

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.