HighPeak Energy (NASDAQ:HPK) Stock Price Down 4.8% - What's Next?

Key Points

• HighPeak Energy shares fell 4.8% to about $8.23 in midday trading, with volume down 93% from the average daily level.
• Analyst sentiment remains mixed, resulting in an overall “Hold” rating and an average price target of $12.00; ratings range from Strong Buy to Sell.
• The company recently beat quarterly expectations, reporting $0.59 in EPS versus estimates of $0.02 and revenue of $272.42 million versus $240.03 million, though it continues to post negative net margin and return on equity.

HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report) shares dropped 4.8% during mid-day trading on Wednesday . The stock traded as low as $8.22 and last traded at $8.2280. Approximately 56,302 shares traded hands during trading, a decline of 93% from the average daily volume of 788,152 shares. The stock had previously closed at $8.64.

Analyst Ratings Changes

A number of brokerages have recently commented on HPK. Weiss Ratings reiterated a "sell (d)" rating on shares of HighPeak Energy in a research note on Monday, August 31st. Wall Street Zen upgraded shares of HighPeak Energy from a "sell" rating to a "hold" rating in a report on Sunday, August 16th. Finally, Zacks Research upgraded shares of HighPeak Energy from a "strong sell" rating to a "hold" rating in a research note on Monday, May 25th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, HighPeak Energy presently has an average rating of "Hold" and an average price target of $12.00.

HighPeak Energy Stock Down 5.2%

The stock has a market cap of $1.04 billion, a PE ratio of -10.34 and a beta of 0.39. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 0.87. The company's 50-day moving average price is $7.66 and its 200 day moving average price is $7.05.

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

Institutional Trading of HighPeak Energy

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of HighPeak Energy in the second quarter worth $13,154,000. Bank of New York Mellon Corp increased 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 valued at $5,994,000 after acquiring an additional 55,955 shares during the period. Texas Capital Bank Wealth Management Services Inc purchased a new position in HighPeak Energy in the 2nd quarter worth $5,426,000. PDT Partners LLC purchased a new position in HighPeak Energy in the 2nd quarter worth $3,831,000. Finally, Empowered Funds LLC acquired a new stake in HighPeak Energy during the 2nd quarter worth about $1,285,000. 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 focused on developing oil-rich properties in the Midland Basin of the Permian Basin in West Texas. Its operations are concentrated in Howard, Borden, and adjacent counties, where it owns and operates acreage prospective for crude oil, natural gas, and natural gas liquids.

The company's activities include acquiring mineral and leasehold interests, drilling and completing horizontal wells, producing hydrocarbons, and managing related gathering and infrastructure operations.

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