HighPeak Energy (NASDAQ:HPK) Issues Earnings Results

HighPeak Energy (NASDAQ:HPK) issued its quarterly earnings results on Wednesday. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.86, FiscalAI reports. The firm had revenue of $165.84 million for the quarter, compared to analyst estimates of $190.56 million. HighPeak Energy had a return on equity of 4.23% and a net margin of 6.03%.

HighPeak Energy Trading Up 6.4%

HPK stock traded up $0.35 during midday trading on Wednesday, reaching $5.85. 1,125,866 shares of the company’s stock traded hands, compared to its average volume of 976,608. The company has a market capitalization of $734.70 million, a P/E ratio of 16.25 and a beta of 0.64. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.65 and a quick ratio of 1.58. HighPeak Energy has a fifty-two week low of $3.85 and a fifty-two week high of $13.11. The business has a 50-day moving average price of $4.79 and a two-hundred day moving average price of $5.83.

Hedge Funds Weigh In On HighPeak Energy

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of HighPeak Energy by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,666,153 shares of the company’s stock valued at $18,850,000 after acquiring an additional 94,834 shares in the last quarter. Geode Capital Management LLC increased its holdings in HighPeak Energy by 12.4% in the 2nd quarter. Geode Capital Management LLC now owns 640,028 shares of the company’s stock valued at $6,273,000 after purchasing an additional 70,590 shares in the last quarter. State Street Corp raised its position in HighPeak Energy by 12.9% in the fourth quarter. State Street Corp now owns 558,108 shares of the company’s stock valued at $2,645,000 after purchasing an additional 63,919 shares during the period. New York State Common Retirement Fund raised its position in HighPeak Energy by 9.9% in the fourth quarter. New York State Common Retirement Fund now owns 211,402 shares of the company’s stock valued at $1,002,000 after purchasing an additional 19,100 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of HighPeak Energy by 4.7% during the second quarter. Invesco Ltd. now owns 209,137 shares of the company’s stock worth $2,050,000 after purchasing an additional 9,444 shares in the last quarter. Hedge funds and other institutional investors own 24.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HPK. Zacks Research cut shares of HighPeak Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, February 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of HighPeak Energy in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, HighPeak Energy presently has a consensus rating of “Reduce” and an average price target of $11.67.

HighPeak Energy Company Profile

HighPeak Energy, Inc (NASDAQ: HPK) is a Delaware‐incorporated independent oil and natural gas exploration and production company. The firm focuses on the acquisition, development and exploitation of onshore petroleum assets in the continental United States. Its operations encompass the full upstream value chain, including exploration, drilling, completion and production activities aimed at maximizing hydrocarbon recovery and operational efficiency.

The company’s primary business activities include identifying and acquiring conventional and unconventional oil and gas properties, applying advanced drilling and completion technologies, and managing midstream logistics to optimize product flow.