HighPeak Energy (NASDAQ:HPK) Releases Quarterly Earnings Results, Beats Estimates By $0.57 EPS

Key Points

• HighPeak Energy beat quarterly earnings expectations: The company reported $0.59 in EPS, $0.57 above consensus, while revenue of $272.42 million also exceeded estimates of $240.03 million.
• Shares rose 10% to $7.92 following the results, although the company reported a negative net margin of 18.78% and a negative return on equity of 0.73%.
• Analyst sentiment remains mixed, with ratings spanning Strong Buy, Hold and Sell; the consensus rating is Hold, with a $12.00 price target.

HighPeak Energy (NASDAQ:HPK - Get Free Report) issued its quarterly earnings results on Monday. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.57, FiscalAI reports. HighPeak Energy had a negative net margin of 18.78% and a negative return on equity of 0.73%. The company had revenue of $272.42 million during the quarter, compared to analyst estimates of $240.03 million.

HighPeak Energy Stock Up 10.0%

Shares of NASDAQ:HPK traded up $0.72 during trading on Monday, reaching $7.92. 772,224 shares of the stock traded hands, compared to its average volume of 855,103. The stock has a market cap of $1.00 billion, a P/E ratio of -6.66 and a beta of 0.35. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.66 and a current ratio of 0.67. The stock has a 50-day moving average of $7.26 and a two-hundred day moving average of $6.41. HighPeak Energy has a 52-week low of $3.85 and a 52-week high of $8.97.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Empowered Funds LLC grew its position in HighPeak Energy by 1.9% in the 1st quarter. Empowered Funds LLC now owns 186,174 shares of the company's stock worth $2,357,000 after purchasing an additional 3,431 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of HighPeak Energy by 8.1% during the 3rd quarter. Alliancebernstein L.P. now owns 46,540 shares of the company's stock valued at $329,000 after buying an additional 3,500 shares during the period. Strs Ohio purchased a new position in shares of HighPeak Energy in the 1st quarter worth $60,000. Intech Investment Management LLC boosted its stake in shares of HighPeak Energy by 46.4% in the 3rd quarter. Intech Investment Management LLC now owns 15,251 shares of the company's stock worth $108,000 after buying an additional 4,831 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of HighPeak Energy by 23.6% in the second quarter. Rhumbline Advisers now owns 25,483 shares of the company's stock worth $250,000 after acquiring an additional 4,864 shares during the period. Hedge funds and other institutional investors own 24.13% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on HPK. Zacks Research raised shares of HighPeak Energy from a "strong sell" rating to a "hold" rating in a research note on Monday, May 25th. Weiss Ratings restated a "sell (d)" rating on shares of HighPeak Energy in a research note on Wednesday, June 3rd. Finally, Wall Street Zen lowered HighPeak Energy from a "hold" rating to a "sell" rating in a research report on Saturday. One 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 company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target 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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