HighPeak Energy (NASDAQ:HPK) Shares Up 7.6% After Better-Than-Expected Earnings

HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report) rose 7.6% during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $14.27 and last traded at $14.05. Approximately 216,790 shares were traded during trading, a decline of 34% from the average daily volume of 327,335 shares. The stock had previously closed at $13.06.

The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.12. HighPeak Energy had a return on equity of 15.99% and a net margin of 14.05%. The company had revenue of $271.60 million during the quarter, compared to analysts' expectations of $270.18 million. During the same period in the prior year, the business posted $0.46 EPS. HighPeak Energy's revenue was down 21.4% on a year-over-year basis.

Wall Street Analyst Weigh In

Separately, Truist Financial decreased their price target on shares of HighPeak Energy from $14.00 to $12.00 and set a "hold" rating for the company in a report on Monday, September 30th.

Insiders Place Their Bets

In other HighPeak Energy news, CEO Jack Hightower acquired 17,743 shares of the business's stock in a transaction dated Thursday, August 29th. The shares were acquired at an average price of $15.50 per share, for a total transaction of $275,016.50. Following the acquisition, the chief executive officer now directly owns 4,805,350 shares of the company's stock, valued at approximately $74,482,925. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders acquired 203,821 shares of company stock worth $3,154,206 over the last ninety days. 77.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On HighPeak Energy

Several institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its position in shares of HighPeak Energy by 101.1% in the third quarter. Blue Trust Inc. now owns 5,678 shares of the company's stock worth $80,000 after purchasing an additional 2,854 shares in the last quarter. Sanders Morris Harris LLC bought a new stake in shares of HighPeak Energy during the 3rd quarter worth approximately $4,506,000. SG Americas Securities LLC acquired a new stake in shares of HighPeak Energy in the 3rd quarter valued at approximately $107,000. Susquehanna Fundamental Investments LLC grew its stake in shares of HighPeak Energy by 197.4% in the second quarter. Susquehanna Fundamental Investments LLC now owns 54,141 shares of the company's stock valued at $761,000 after buying an additional 35,937 shares in the last quarter. Finally, Squarepoint Ops LLC raised its position in HighPeak Energy by 47.4% during the second quarter. Squarepoint Ops LLC now owns 90,035 shares of the company's stock worth $1,266,000 after acquiring an additional 28,951 shares in the last quarter. 24.13% of the stock is owned by institutional investors.

HighPeak Energy Trading Up 10.3 %

The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.90 and a current ratio of 0.93. The business's 50-day moving average price is $14.47 and its 200 day moving average price is $14.80. The company has a market cap of $1.84 billion, a P/E ratio of 11.83 and a beta of 0.69.

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.