Roth Capital Weighs in on HighPeak Energy, Inc.’s Q1 2024 Earnings (NASDAQ:HPK)

HighPeak Energy, Inc. (NASDAQ:HPK) – Research analysts at Roth Capital increased their Q1 2024 earnings estimates for shares of HighPeak Energy in a report released on Thursday, April 25th. Roth Capital analyst J. White now anticipates that the company will post earnings per share of $0.41 for the quarter, up from their previous forecast of $0.33. The consensus estimate for HighPeak Energy’s current full-year earnings is $1.60 per share. Roth Capital also issued estimates for HighPeak Energy’s Q3 2024 earnings at $0.58 EPS.

HighPeak Energy (NASDAQ:HPK) last posted its quarterly earnings results on Wednesday, March 6th. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.09. HighPeak Energy had a net margin of 19.42% and a return on equity of 17.70%. The company had revenue of $301.15 million for the quarter, compared to the consensus estimate of $329.85 million.

Separately, Truist Financial cut their target price on shares of HighPeak Energy from $11.00 to $10.00 and set a “sell” rating on the stock in a research report on Friday, April 5th.

HighPeak Energy Stock Down 5.4 %

NASDAQ:HPK opened at $14.21 on Monday. The firm’s 50 day simple moving average is $15.61 and its 200 day simple moving average is $15.31. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.14 and a quick ratio of 1.12. HighPeak Energy has a one year low of $10.44 and a one year high of $19.96. The company has a market cap of $1.82 billion, a PE ratio of 8.99 and a beta of 0.63.

Institutional Trading of HighPeak Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of HPK. Solstein Capital LLC increased its stake in HighPeak Energy by 20.0% during the 3rd quarter. Solstein Capital LLC now owns 6,000 shares of the company’s stock valued at $101,000 after purchasing an additional 1,000 shares in the last quarter. ORG Partners LLC purchased a new position in HighPeak Energy during the 3rd quarter worth $112,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in HighPeak Energy during the 4th quarter worth $117,000. Raymond James Financial Services Advisors Inc. purchased a new position in HighPeak Energy during the 4th quarter worth $174,000. Finally, Commonwealth Equity Services LLC boosted its holdings in HighPeak Energy by 10.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 13,102 shares of the company’s stock worth $221,000 after acquiring an additional 1,195 shares during the last quarter. Institutional investors own 24.13% of the company’s stock.

HighPeak Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 1st were paid a $0.04 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.16 annualized dividend and a dividend yield of 1.13%. This is a positive change from HighPeak Energy’s previous quarterly dividend of $0.03. HighPeak Energy’s payout ratio is currently 10.13%.

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.