HighPeak Energy (NASDAQ:HPK) Downgraded to Strong Sell Rating by Zacks Research

HighPeak Energy (NASDAQ:HPK) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research firms have also recently commented on HPK. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HighPeak Energy in a research note on Monday, December 29th. Wall Street Zen lowered HighPeak Energy from a “hold” rating to a “sell” rating in a research report on Sunday, October 26th. Finally, Roth Mkm began coverage on shares of HighPeak Energy in a report on Monday, October 13th. They issued a “buy” rating and a $12.00 price target for the company. One investment 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $11.67.

HighPeak Energy Trading Up 3.4%

Shares of HPK opened at $4.82 on Monday. HighPeak Energy has a fifty-two week low of $3.85 and a fifty-two week high of $14.99. The stock has a market capitalization of $605.34 million, a PE ratio of 13.39 and a beta of 0.64. The company’s fifty day moving average is $4.85 and its 200 day moving average is $6.42. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.58 and a current ratio of 1.65.

HighPeak Energy (NASDAQ:HPK) last announced its earnings results on Wednesday, November 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.23). HighPeak Energy had a net margin of 6.03% and a return on equity of 4.23%. The business had revenue of $188.86 million for the quarter, compared to analysts’ expectations of $224.48 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. The firm’s quarterly revenue was down 30.5% compared to the same quarter last year. Sell-side analysts expect that HighPeak Energy will post 0.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On HighPeak Energy

A number of large investors have recently made changes to their positions in HPK. State of Alaska Department of Revenue purchased a new stake in shares of HighPeak Energy during the 3rd quarter valued at $31,000. Raymond James Financial Inc. purchased a new position in HighPeak Energy during the 2nd quarter worth $49,000. Strs Ohio acquired a new position in HighPeak Energy during the 1st quarter valued at about $60,000. Brevan Howard Capital Management LP purchased a new stake in HighPeak Energy in the third quarter valued at about $79,000. Finally, WINTON GROUP Ltd purchased a new stake in HighPeak Energy in the third quarter valued at about $102,000. 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.