Empowered Funds LLC Takes Position in HighPeak Energy, Inc. $HPK

Key Points

• Empowered Funds LLC acquired 183,833 HighPeak Energy shares in the second quarter, valued at approximately $1.285 million and representing about 0.15% of the company. Other institutions, including BlackRock, also initiated positions, bringing institutional ownership to 24.13%.
• HighPeak Energy reported quarterly revenue of $272.42 million, up 25.8% year over year, and adjusted earnings of $0.59 per share, exceeding analyst expectations of $0.02. Analysts project a full-year loss of $0.08 per share.
• The stock was trading at $8.05, down 2.9%, while analyst sentiment remained mixed but averaged a “Hold” rating with a consensus price target of $12.00.

Empowered Funds LLC acquired a new stake in HighPeak Energy, Inc. (NASDAQ:HPK - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 183,833 shares of the company's stock, valued at approximately $1,285,000. Empowered Funds LLC owned approximately 0.15% of HighPeak Energy as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of HighPeak Energy during the second quarter worth about $13,154,000. Texas Capital Bank Wealth Management Services Inc purchased a new position in HighPeak Energy in the second quarter worth $5,426,000. PDT Partners LLC purchased a new stake in HighPeak Energy during the second quarter worth about $3,831,000. Bank of New York Mellon Corp purchased a new stake in HighPeak Energy in the second quarter worth $1,188,000. Finally, Ieq Capital LLC bought a new stake in shares of HighPeak Energy in the second quarter valued at approximately $996,000. 24.13% of the stock is owned by institutional investors.

HighPeak Energy Trading Down 2.9%

NASDAQ HPK opened at $8.05 on Friday. The stock has a market cap of $1.02 billion, a P/E ratio of -10.19 and a beta of 0.39. HighPeak Energy, Inc. has a fifty-two week low of $3.85 and a fifty-two week high of $9.13. The stock has a 50 day simple moving average of $7.43 and a two-hundred day simple moving average of $6.88. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 0.87.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.57. HighPeak Energy had a negative return on equity of 1.44% and a negative net margin of 10.52%.The company had revenue of $272.42 million during the quarter, compared to analyst estimates of $240.03 million. During the same quarter last year, the firm posted $0.10 earnings per share. The firm's revenue was up 25.8% on a year-over-year basis. On average, analysts forecast that HighPeak Energy, Inc. will post -0.08 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of HighPeak Energy from a "sell" rating to a "hold" rating in a research note on Sunday, August 16th. Zacks Research upgraded HighPeak Energy from a "strong sell" rating to a "hold" rating in a research report on Monday, May 25th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of HighPeak Energy in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average 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.

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