HighPeak Energy (NASDAQ:HPK) Announces Quarterly Earnings Results, Hits Estimates

HighPeak Energy (NASDAQ:HPK) posted its earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate of ($0.02), FiscalAI reports. The company had revenue of $215.89 million for the quarter, compared to analyst estimates of $210.14 million. HighPeak Energy had a negative net margin of 18.78% and a negative return on equity of 0.73%. The business’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same period last year, the business posted $0.31 earnings per share.

HighPeak Energy Stock Performance

Shares of HPK stock opened at $7.84 on Tuesday. HighPeak Energy has a 52 week low of $3.85 and a 52 week high of $12.00. The company has a market capitalization of $990.66 million, a price-to-earnings ratio of -6.59 and a beta of 0.35. The company has a 50-day simple moving average of $6.81 and a 200 day simple moving average of $5.78. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.66 and a current ratio of 0.67.

Hedge Funds Weigh In On HighPeak Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Stokes Family Office LLC bought a new stake in HighPeak Energy in the 4th quarter valued at about $48,000. Raymond James Financial Inc. acquired a new stake in shares of HighPeak Energy during the 2nd quarter valued at $49,000. The Manufacturers Life Insurance Company bought a new stake in shares of HighPeak Energy during the fourth quarter worth about $51,000. Strs Ohio bought a new position in HighPeak Energy in the 1st quarter valued at approximately $60,000. Finally, Brooklyn Investment Group bought a new position in HighPeak Energy in the 4th quarter valued at approximately $68,000. 24.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HPK has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of HighPeak Energy in a research report on Wednesday, June 3rd. Zacks Research upgraded HighPeak Energy from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Finally, Wall Street Zen lowered shares of HighPeak Energy from a “hold” rating to a “sell” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $12.00.

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.