HighPeak Energy (NASDAQ:HPK) Releases Quarterly Earnings Results, Beats Expectations By $0.86 EPS

HighPeak Energy (NASDAQ:HPK) released its quarterly earnings results on Wednesday. The company reported $0.82 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.86, FiscalAI reports. The firm had revenue of $165.84 million for the quarter, compared to analyst estimates of $190.56 million. HighPeak Energy had a return on equity of 4.23% and a net margin of 6.03%.

HighPeak Energy Stock Up 6.4%

HPK traded up $0.35 on Wednesday, reaching $5.85. The company’s stock had a trading volume of 1,125,866 shares, compared to its average volume of 976,608. HighPeak Energy has a 1 year low of $3.85 and a 1 year high of $13.11. The business’s 50 day moving average is $4.79 and its 200 day moving average is $5.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.65 and a quick ratio of 1.58. The stock has a market cap of $734.70 million, a price-to-earnings ratio of 16.25 and a beta of 0.64.

Hedge Funds Weigh In On HighPeak Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position 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 worth $18,850,000 after buying an additional 94,834 shares in the last quarter. Geode Capital Management LLC raised 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 purchasing an additional 70,590 shares in the last quarter. State Street Corp raised its stake in shares of HighPeak Energy by 12.9% in the 4th quarter. State Street Corp now owns 558,108 shares of the company’s stock valued at $2,645,000 after purchasing an additional 63,919 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of HighPeak Energy by 9.9% during the fourth quarter. New York State Common Retirement Fund now owns 211,402 shares of the company’s stock worth $1,002,000 after purchasing an additional 19,100 shares during the last quarter. Finally, Invesco Ltd. grew its stake in HighPeak Energy by 4.7% in the second quarter. Invesco Ltd. now owns 209,137 shares of the company’s stock worth $2,050,000 after purchasing an additional 9,444 shares in the last quarter. 24.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HPK has been the topic of a number of analyst reports. Zacks Research lowered shares of HighPeak Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, February 2nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HighPeak Energy in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $11.67.

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.