HighPeak Energy (NASDAQ:HPK) Issues Earnings Results, Beats Estimates By $0.57 EPS

HighPeak Energy (NASDAQ:HPK) posted its earnings results on Monday. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.02 by $0.57, FiscalAI reports. The business had revenue of $272.42 million for the quarter, compared to the consensus estimate of $240.03 million. HighPeak Energy had a negative net margin of 18.78% and a negative return on equity of 0.73%.

HighPeak Energy Trading Up 10.0%

HPK traded up $0.72 during trading on Monday, reaching $7.92. 773,614 shares of the stock traded hands, compared to its average volume of 855,123. 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 stock’s 50-day moving average is $7.26 and its 200 day moving average is $6.41. HighPeak Energy has a 12 month low of $3.85 and a 12 month high of $8.97. The stock has a market capitalization of $1.00 billion, a PE ratio of -6.66 and a beta of 0.35.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HPK. Wall Street Zen downgraded HighPeak Energy from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of HighPeak Energy in a research note on Wednesday, June 3rd. Finally, Zacks Research upgraded HighPeak Energy from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $12.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in HPK. Empowered Funds LLC increased its holdings in HighPeak Energy by 1.9% in the first quarter. Empowered Funds LLC now owns 186,174 shares of the company’s stock worth $2,357,000 after purchasing an additional 3,431 shares in the last quarter. Jane Street Group LLC grew its position in shares of HighPeak Energy by 79.6% during the 1st quarter. Jane Street Group LLC now owns 20,368 shares of the company’s stock worth $258,000 after buying an additional 9,029 shares during the period. Strs Ohio acquired a new stake in shares of HighPeak Energy during the 1st quarter worth approximately $60,000. Geode Capital Management LLC increased its stake in shares of 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. Finally, Creative Planning bought a new stake in shares of HighPeak Energy in the 2nd quarter valued at $225,000. 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.