HighPeak Energy (NASDAQ:HPK) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of HighPeak Energy (NASDAQ:HPK) from a strong sell rating to a hold rating in a research note released on Monday,Zacks.com reports.

Separately, Wall Street Zen raised shares of HighPeak Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.00.

HighPeak Energy Stock Down 10.1%

Shares of HighPeak Energy stock opened at $7.06 on Monday. HighPeak Energy has a 52-week low of $3.85 and a 52-week high of $12.00. The company has a 50 day moving average of $6.65 and a 200 day moving average of $5.66. The company has a quick ratio of 0.66, a current ratio of 0.67 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $892.09 million, a P/E ratio of -5.93 and a beta of 0.34.

HighPeak Energy (NASDAQ:HPK) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.02). HighPeak Energy had a negative net margin of 18.78% and a negative return on equity of 0.73%. The company had revenue of $215.89 million for the quarter, compared to analysts’ expectations of $210.14 million. During the same quarter last year, the company earned $0.31 earnings per share. The firm’s revenue for the quarter was down 20.7% on a year-over-year basis. As a group, research analysts forecast that HighPeak Energy will post -0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On HighPeak Energy

A number of institutional investors have recently modified their holdings of the business. Empowered Funds LLC increased its holdings in shares of HighPeak Energy by 1.9% in the 1st quarter. Empowered Funds LLC now owns 186,174 shares of the company’s stock valued at $2,357,000 after acquiring an additional 3,431 shares during the period. Alliancebernstein L.P. increased its holdings in shares of HighPeak Energy by 8.1% in the 3rd quarter. Alliancebernstein L.P. now owns 46,540 shares of the company’s stock valued at $329,000 after acquiring an additional 3,500 shares during the period. Strs Ohio acquired a new position in shares of HighPeak Energy in the 1st quarter valued at $60,000. Intech Investment Management LLC increased its holdings in shares of HighPeak Energy by 46.4% in the 3rd quarter. Intech Investment Management LLC now owns 15,251 shares of the company’s stock valued at $108,000 after acquiring an additional 4,831 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of HighPeak Energy by 23.6% in the 2nd quarter. Rhumbline Advisers now owns 25,483 shares of the company’s stock valued at $250,000 after acquiring an additional 4,864 shares during the period. 24.13% of the stock is owned by institutional investors and hedge funds.

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.