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

HighPeak Energy, Inc. (NASDAQ:HPK) – Equities research analysts at Roth Capital increased their Q1 2024 earnings estimates for HighPeak Energy in a report released on Thursday, April 25th. Roth Capital analyst J. White now expects 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 issued its quarterly earnings data on Wednesday, March 6th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.09. The company had revenue of $301.15 million for the quarter, compared to analyst estimates of $329.85 million. HighPeak Energy had a net margin of 19.42% and a return on equity of 17.70%.

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

HighPeak Energy Stock Performance

Shares of HPK stock opened at $14.21 on Monday. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 8.99 and a beta of 0.63. The company’s 50 day moving average is $15.61 and its 200 day moving average is $15.31. The company has a quick ratio of 1.12, a current ratio of 1.14 and a debt-to-equity ratio of 0.66. HighPeak Energy has a 52-week low of $10.44 and a 52-week high of $19.96.

HighPeak Energy Increases Dividend

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

Hedge Funds Weigh In On HighPeak Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of HighPeak Energy by 850.3% during the third quarter. Vanguard Group Inc. now owns 2,297,335 shares of the company’s stock worth $38,779,000 after buying an additional 2,055,576 shares during the period. Kennedy Capital Management LLC acquired a new stake in shares of HighPeak Energy during the third quarter worth $10,396,000. Wasatch Advisors LP lifted its stake in shares of HighPeak Energy by 15.6% during 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 period. Intrinsic Edge Capital Management LLC acquired a new stake in shares of HighPeak Energy during the fourth quarter worth $3,636,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of HighPeak Energy by 6.1% during the third quarter. Bank of New York Mellon Corp now owns 227,838 shares of the company’s stock worth $3,846,000 after buying an additional 13,175 shares during the period. 24.13% of the stock is owned by hedge funds and other institutional investors.

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.