HighPeak Energy (NASDAQ:HPK) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded HighPeak Energy from “hold” to “buy.” MarketBeat reports an overall “Moderate Buy” rating, with one analyst rating the stock Strong Buy and one rating it Sell.
• HighPeak reported quarterly EPS of $0.32, beating the $0.07 consensus estimate, and revenue of $256.82 million, above the $241.27 million estimate.
• Several institutional investors increased their HPK holdings in the third quarter; hedge funds and other institutions collectively own 24.13% of the company’s shares.

HighPeak Energy (NASDAQ:HPK - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other brokerages also recently issued reports on HPK. Zacks Research upgraded shares of HighPeak Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, November 9th. Weiss Ratings upgraded shares of HighPeak Energy from a "sell (d)" rating to a "sell (d+)" rating in a report on Monday, November 2nd. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy".

HighPeak Energy Stock Performance

Shares of HighPeak Energy stock opened at $8.22 on Friday. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -7.61 and a beta of 0.05. The firm's 50-day moving average is $8.83 and its 200 day moving average is $7.22. HighPeak Energy has a 1 year low of $3.85 and a 1 year high of $12.03. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.73 and a quick ratio of 0.85.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last announced its quarterly earnings data on Monday, November 9th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.07 by $0.25. The company had revenue of $256.82 million for the quarter, compared to the consensus estimate of $241.27 million. HighPeak Energy had a negative net margin of 13.84% and a positive return on equity of 0.76%. Sell-side analysts anticipate that HighPeak Energy will post 0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HPK. Marshall Wace LLP grew its stake in shares of HighPeak Energy by 76.4% in the third quarter. Marshall Wace LLP now owns 37,200 shares of the company's stock worth $304,000 after acquiring an additional 16,108 shares during the period. Russell Investments Group Ltd. increased its position in HighPeak Energy by 340.7% during the third quarter. Russell Investments Group Ltd. now owns 96,488 shares of the company's stock valued at $787,000 after acquiring an additional 74,593 shares during the last quarter. Vise Technologies Inc. purchased a new stake in HighPeak Energy during the third quarter valued at $101,000. Counterpoint Mutual Funds LLC bought a new position in HighPeak Energy in the third quarter valued at about $709,000. Finally, State of Alaska Department of Revenue boosted its position in HighPeak Energy by 18.7% in the third quarter. State of Alaska Department of Revenue now owns 25,660 shares of the company's stock worth $208,000 after purchasing an additional 4,036 shares during the last quarter. Hedge funds and other institutional investors own 24.13% of the company's stock.

HighPeak Energy Company Profile

HighPeak Energy, Inc. is an independent oil and natural gas exploration and production company. It focuses on acquiring, developing and operating oil and gas properties, with production that includes crude oil, natural gas and natural gas liquids. The company's operations are concentrated in the Permian Basin of West Texas, particularly in Howard and Borden counties. Its activities include drilling and completing wells and managing the infrastructure needed to produce and transport hydrocarbons.

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