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

HighPeak Energy, Inc. (NASDAQ:HPK) – Equities researchers at Seaport Res Ptn cut their Q2 2024 EPS estimates for shares of HighPeak Energy in a research note issued to investors on Thursday, May 23rd. Seaport Res Ptn analyst N. Pope now forecasts 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 issued 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 company had revenue of $287.80 million during the quarter, compared to analyst estimates of $284.38 million. HighPeak Energy had a net margin of 14.64% and a return on equity of 16.58%. The business’s revenue was up 28.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.39 earnings per share.

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

HighPeak Energy Stock Up 1.5 %

Shares of HighPeak Energy stock opened at $14.92 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.65. The business’s 50 day simple moving average is $15.16 and its 200-day simple moving average is $14.96. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 12.03 and a beta of 0.67. HighPeak Energy has a twelve month low of $10.44 and a twelve month high of $18.42.

Hedge Funds Weigh In On HighPeak Energy

Several hedge funds and other institutional investors have recently modified their holdings of HPK. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of HighPeak Energy during the fourth quarter valued at $117,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of HighPeak Energy during the fourth quarter valued at about $174,000. Commonwealth Equity Services LLC raised its stake in shares of HighPeak Energy by 10.0% during the third quarter. Commonwealth Equity Services LLC now owns 13,102 shares of the company’s stock valued at $221,000 after purchasing an additional 1,195 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of HighPeak Energy during the fourth quarter valued at about $226,000. Finally, Raymond James & Associates bought a new stake in shares of HighPeak Energy during the third quarter valued at about $243,000. Institutional investors and hedge funds own 24.13% of the company’s stock.

HighPeak Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Monday, June 3rd. HighPeak Energy’s dividend payout ratio (DPR) is 12.90%.

HighPeak Energy Company Profile

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.