$124.69 million in sales expected for HighPeak Energy, Inc. (NASDAQ: HPK) this quarter
Equity research analysts expect HighPeak Energy, Inc. (NASDAQ: HPK – Get Rating) to report sales of $124.69 million for the current fiscal quarter, according to Zacks. Two analysts provided earnings estimates for HighPeak Energy, with estimates ranging from $99.67 million to $149.70 million. HighPeak Energy recorded sales of $25.72 million in the same quarter last year, indicating a positive year-over-year growth rate of 384.8%. The company is expected to release its next quarterly earnings report after the market closes on Monday, January 1.
According to Zacks, analysts expect HighPeak Energy to report annual sales of $982.37 million for the current fiscal year, with estimates ranging from $864.43 million to $1.10 billion. For next year, analysts expect the company to post sales of $0.00. Zacks Investment Research sales averages are an average average based on a survey of research companies that provide coverage for HighPeak Energy.
HighPeak Energy Inc (NASDAQ:HPK – Get Rating) last released quarterly earnings data on Monday, March 7. The company reported earnings per share of $0.38 for the quarter, missing the consensus estimate of $0.39 per ($0.01). HighPeak Energy posted a net margin of 25.24% and a return on equity of 13.29%. The company posted revenue of $98.67 million in the quarter, versus a consensus estimate of $89.26 million. In the same period a year earlier, the company posted ($0.05) earnings per share.
Several research analysts have recently commented on HPK shares. Roth Capital raised its target price on HighPeak Energy from $32.50 to $38.75 in a Thursday, April 28 research report. Zacks Investment Research upgraded HighPeak Energy from a “sell” rating to a “buy” rating and set a target price of $20.00 for the company in a Monday, January 24 research report.
In other HighPeak Energy news, Director Michael H. Gustin sold 8,000 shares of HighPeak Energy in a trade on Friday, March 11. The stock was sold at an average price of $22.66, for a total transaction of $181,280.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. 89.56% of the shares are currently held by insiders of the company.
Several hedge funds and other institutional investors have recently changed their holdings of HPK. The New York State Common Retirement Fund increased its stake in shares of HighPeak Energy by 869.4% in the first quarter. The New York State Common Retirement Fund now owns 4,246 shares of the company valued at $94,000 after buying 3,808 additional shares in the last quarter. Prospera Financial Services Inc acquired a new stake in shares of HighPeak Energy in the first quarter worth $80,000. Strs Ohio increased its equity stake in HighPeak Energy by 1,066.7% in the first quarter. Strs Ohio now owns 14,000 shares of the company valued at $310,000 after purchasing an additional 12,800 shares in the last quarter. BlackRock Inc. increased its stake in shares of HighPeak Energy by 14.5% in the fourth quarter. BlackRock Inc. now owns 253,273 shares of the company valued at $3,708,000 after purchasing an additional 32,065 shares last quarter. Finally, Parametric Portfolio Associates LLC acquired a new equity stake in HighPeak Energy in the fourth quarter at a value of $172,000. 14.89% of the shares are held by institutional investors.
HPK opened at $29.56 on Friday. HighPeak Energy has a 1-year low of $7.60 and a 1-year high of $38.21. The company has a current ratio of 0.84, a quick ratio of 0.81 and a debt ratio of 0.18. The stock has a market capitalization of $2.86 billion, a price-earnings ratio of 54.74 and a beta of 0.58. The company has a 50-day moving average of $24.89 and a 200-day moving average of $19.13.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 25. Investors of record on Monday, May 2 will receive a dividend of $0.025. The ex-dividend date is Friday, April 29. This represents an annualized dividend of $0.10 and a yield of 0.34%. HighPeak Energy’s dividend payout ratio (DPR) is currently 18.52%.
About HighPeak Energy (Get a rating)
HighPeak Energy, Inc, an independent oil and gas company, is engaged in the acquisition, exploration, development and production of oil, natural gas and natural gas liquids reserves in the Midland Basin, in West Texas. As of December 31, 2021, the company had approximately 64,213 Mboe of proven reserves.
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