HighPeak Energy (NASDAQ:HPK) Shares Gap Up – Still a Buy?

HighPeak Energy, Inc. (NASDAQ:HPK) shares gapped up before the market opened on Thursday . The stock had previously closed at $8.21, but opened at $8.50. HighPeak Energy shares last traded at $8.30, with a volume of 31,136 shares traded.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Zacks Research raised shares of HighPeak Energy from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Weiss Ratings restated a “sell (d)” rating on shares of HighPeak Energy in a report on Monday, August 31st. Finally, Wall Street Zen upgraded HighPeak Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, HighPeak Energy has an average rating of “Hold” and an average price target of $12.00.

HighPeak Energy Trading Up 2.2%

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 company’s 50 day simple moving average is $7.51 and its two-hundred day simple moving average is $6.95. The company has a market cap of $1.06 billion, a PE ratio of -10.63 and a beta of 0.39.

HighPeak Energy (NASDAQ:HPK) last released 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. The company had revenue of $272.42 million for the quarter, compared to analysts’ expectations of $240.03 million. HighPeak Energy had a negative return on equity of 1.44% and a negative net margin of 10.52%.The firm’s revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 earnings per share. As a group, sell-side analysts anticipate that HighPeak Energy, Inc. will post -0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On HighPeak Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in HighPeak Energy in the second quarter valued at approximately $13,154,000. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of HighPeak Energy in the 2nd quarter worth $5,426,000. PDT Partners LLC purchased a new stake in HighPeak Energy in the 2nd quarter valued at approximately $3,831,000. Empowered Funds LLC purchased a new stake in shares of HighPeak Energy in the second quarter valued at approximately $1,285,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of HighPeak Energy during the 2nd quarter worth $1,188,000. Institutional investors and hedge funds own 24.13% of the company’s stock.

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.