HighPeak Energy (NASDAQ:HPK) Stock Falls 5.6% - Time to Sell?

Key Points

• HighPeak Energy shares fell 5.6% to about $10.76, with trading volume down 66% versus the average daily volume.
• Analyst sentiment remains cautious: one analyst rates the stock “Hold” and another “Sell,” resulting in a consensus rating of “Reduce.”
• The company reported stronger-than-expected quarterly results, with $0.59 EPS versus estimates of $0.02 and revenue of $272.42 million, up 25.8% year over year; institutional investors own 24.13% of the stock.

HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report) fell 5.6% during trading on Tuesday. The company traded as low as $10.84 and last traded at $10.7550. Approximately 261,026 shares were traded during trading, a decline of 66% from the average daily volume of 778,491 shares. The stock had previously closed at $11.39.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on HPK shares. Wall Street Zen raised shares of HighPeak Energy from a "sell" rating to a "hold" rating in a report on Sunday, August 16th. Weiss Ratings restated a "sell (d)" rating on shares of HighPeak Energy in a research report on Monday, August 31st. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Reduce".

HighPeak Energy Stock Down 3.8%

The firm has a market cap of $1.39 billion, a PE ratio of -13.87 and a beta of 0.36. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.87 and a quick ratio of 0.85. The business has a fifty day moving average price of $8.35 and a two-hundred day moving average price of $7.46.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.57. HighPeak Energy had a negative net margin of 10.52% and a negative return on equity of 1.44%. The business had revenue of $272.42 million during the quarter, compared to analyst estimates of $240.03 million. During the same period in the prior year, the firm earned $0.10 earnings per share. The firm's revenue was up 25.8% compared to the same quarter last year. On average, analysts anticipate that HighPeak Energy, Inc. will post 0.15 EPS for the current fiscal year.

Institutional Trading of HighPeak Energy

A number of institutional investors have recently added to or reduced their stakes in HPK. BlackRock Inc. bought a new position in shares of HighPeak Energy in the 2nd quarter valued at approximately $13,154,000. Bank of New York Mellon Corp lifted its position in shares of HighPeak Energy by 6.9% in the 1st quarter. Bank of New York Mellon Corp now owns 868,683 shares of the company's stock worth $5,994,000 after acquiring an additional 55,955 shares during the period. Texas Capital Bank Wealth Management Services Inc acquired a new stake in HighPeak Energy during the second quarter worth $5,426,000. PDT Partners LLC acquired a new position in shares of HighPeak Energy in the 2nd quarter valued at $3,831,000. Finally, Empowered Funds LLC bought a new position in HighPeak Energy during the second quarter worth about $1,285,000. 24.13% of the stock is currently owned by institutional investors and hedge funds.

HighPeak Energy Company Profile

HighPeak Energy, Inc NASDAQ: HPK is an independent oil and natural gas company focused on the acquisition, development and production of unconventional oil and gas reserves in the Midland Basin of the Permian Basin in West Texas.

The company's operations are concentrated primarily in Howard and Borden counties, where it develops horizontal wells and produces crude oil, natural gas liquids and natural gas. HighPeak Energy's activities include leasing acreage, drilling and completing wells, operating production facilities, and managing related gathering and infrastructure arrangements.

HighPeak Energy was established through a business combination involving Pure Acquisition Corp.

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