HighPeak Energy (NASDAQ:HPK) Announces Quarterly Earnings Results, Meets Expectations

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

HighPeak Energy Stock Up 4.3%

Shares of NASDAQ:HPK traded up $0.29 during midday trading on Tuesday, hitting $6.99. 630,662 shares of the stock were exchanged, compared to its average volume of 941,955. The company has a market capitalization of $883.24 million, a PE ratio of -5.87 and a beta of 0.35. HighPeak Energy has a 52-week low of $3.85 and a 52-week high of $10.46. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.66 and a current ratio of 0.67. The business’s fifty day simple moving average is $7.04 and its two-hundred day simple moving average is $5.90.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HPK. Renaissance Technologies LLC acquired a new stake in shares of HighPeak Energy during the 4th quarter valued at about $576,000. Bank of America Corp DE grew its stake in shares of HighPeak Energy by 831.1% in the 3rd quarter. Bank of America Corp DE now owns 108,047 shares of the company’s stock valued at $764,000 after buying an additional 96,443 shares in the last quarter. Vanguard Group Inc. increased its holdings in HighPeak Energy by 3.7% in the third quarter. Vanguard Group Inc. now owns 2,666,153 shares of the company’s stock worth $18,850,000 after buying an additional 94,834 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in HighPeak Energy by 678.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 82,047 shares of the company’s stock worth $389,000 after buying an additional 71,503 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in HighPeak Energy during the fourth quarter valued at approximately $339,000. 24.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on HPK shares. Weiss Ratings reiterated a “sell (d)” rating on shares of HighPeak Energy in a report on Wednesday, June 3rd. Zacks Research upgraded shares of HighPeak Energy from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Finally, Wall Street Zen raised shares of HighPeak Energy from a “sell” rating to a “hold” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, HighPeak Energy presently has an average rating of “Hold” and a consensus target price of $12.00.

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.