HighPeak Energy (NASDAQ:HPK) Raised to “Hold” at Wall Street Zen

HighPeak Energy (NASDAQ:HPK) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday.

A number of other analysts have also commented on HPK. Zacks Research raised HighPeak Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Weiss Ratings reiterated a “sell (d)” rating on shares of HighPeak Energy in a report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $12.00.

HighPeak Energy Stock Up 6.1%

HighPeak Energy stock opened at $7.88 on Friday. The company has a market capitalization of $996.43 million, a PE ratio of -9.97 and a beta of 0.35. HighPeak Energy has a 12-month low of $3.85 and a 12-month high of $9.13. The firm’s fifty day moving average is $7.24 and its 200 day moving average is $6.56. The company has a quick ratio of 0.85, a current ratio of 0.87 and a debt-to-equity ratio of 0.69.

HighPeak Energy (NASDAQ:HPK) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.57. The firm had revenue of $272.42 million for the quarter, compared to analyst estimates of $240.03 million. HighPeak Energy had a negative net margin of 10.52% and a negative return on equity of 1.44%. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 earnings per share. As a group, sell-side analysts predict that HighPeak Energy will post -0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of HighPeak Energy by 3.7% during the third quarter. Vanguard Group Inc. now owns 2,666,153 shares of the company’s stock valued at $18,850,000 after buying an additional 94,834 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of HighPeak Energy in the 2nd quarter worth about $13,154,000. Bank of New York Mellon Corp lifted its position in HighPeak Energy by 6.9% in the 1st quarter. Bank of New York Mellon Corp now owns 868,683 shares of the company’s stock valued at $5,994,000 after acquiring an additional 55,955 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc bought a new position in HighPeak Energy in the 2nd quarter valued at about $5,426,000. Finally, Geode Capital Management LLC lifted its position 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 acquiring an additional 70,590 shares in the last quarter. 24.13% of the stock is owned by institutional investors.

About HighPeak Energy

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.