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

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

HighPeak Energy Price Performance

NASDAQ:HPK traded up $0.42 during trading hours on Tuesday, hitting $7.88. The stock had a trading volume of 814,693 shares, compared to its average volume of 867,905. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.67 and a quick ratio of 0.66. HighPeak Energy has a one year low of $3.85 and a one year high of $12.00. The firm has a market capitalization of $996.33 million, a price-to-earnings ratio of -6.35 and a beta of 0.35. The company has a 50 day simple moving average of $6.68 and a two-hundred day simple moving average of $5.70.

Analyst Ratings Changes

A number of analysts have issued reports on HPK shares. Zacks Research raised HighPeak Energy from a "strong sell" rating to a "hold" rating in a research report on Monday, May 25th. Wall Street Zen raised HighPeak Energy from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $12.00.

Hedge Funds Weigh In On HighPeak Energy

Several institutional investors have recently modified their holdings of HPK. Vanguard Group Inc. boosted 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 valued at $18,850,000 after acquiring an additional 94,834 shares in the last quarter. Geode Capital Management LLC lifted its position 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 worth $6,273,000 after purchasing an additional 70,590 shares during the period. State Street Corp lifted its position 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 worth $2,645,000 after purchasing an additional 63,919 shares during the period. New York State Common Retirement Fund boosted its stake in shares of HighPeak Energy by 9.9% during the 4th quarter. New York State Common Retirement Fund now owns 211,402 shares of the company's stock valued at $1,002,000 after purchasing an additional 19,100 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of HighPeak Energy by 4.7% during the 2nd quarter. Invesco Ltd. now owns 209,137 shares of the company's stock valued at $2,050,000 after purchasing an additional 9,444 shares in the last quarter. 24.13% of the stock is currently owned by institutional investors.

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.