HighPeak Energy (NASDAQ:HPK) Releases Earnings Results, Misses Expectations By $0.17 EPS

HighPeak Energy (NASDAQ:HPK) announced its quarterly earnings data on Wednesday. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.17), Briefing.com reports. The firm had revenue of $165.84 million for the quarter, compared to analysts’ expectations of $190.56 million. HighPeak Energy had a net margin of 6.03% and a return on equity of 4.23%. The business’s revenue for the quarter was down 33.4% compared to the same quarter last year. During the same period last year, the company posted $0.06 earnings per share.

HighPeak Energy Price Performance

Shares of NASDAQ:HPK opened at $5.85 on Thursday. HighPeak Energy has a fifty-two week low of $3.85 and a fifty-two week high of $13.11. The business has a 50-day simple moving average of $4.82 and a two-hundred day simple moving average of $5.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.58 and a current ratio of 1.65. The firm has a market cap of $734.68 million, a price-to-earnings ratio of 16.25 and a beta of 0.64.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Zacks Research cut shares of HighPeak Energy from a “hold” rating to a “strong sell” rating in a report on Monday, February 2nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HighPeak Energy in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, HighPeak Energy currently has a consensus rating of “Reduce” and an average target price of $11.67.

Institutional Trading of HighPeak Energy

A number of large investors have recently made changes to their positions in HPK. Empowered Funds LLC raised its holdings in shares of HighPeak Energy by 1.9% during the first quarter. Empowered Funds LLC now owns 186,174 shares of the company’s stock valued at $2,357,000 after purchasing an additional 3,431 shares during the last quarter. Jane Street Group LLC grew its position in HighPeak Energy by 79.6% in the 1st quarter. Jane Street Group LLC now owns 20,368 shares of the company’s stock worth $258,000 after purchasing an additional 9,029 shares during the period. Strs Ohio bought a new stake in HighPeak Energy in the 1st quarter worth approximately $60,000. Geode Capital Management LLC raised its stake in HighPeak Energy by 12.4% during the 2nd quarter. Geode Capital Management LLC now owns 640,028 shares of the company’s stock valued at $6,273,000 after buying an additional 70,590 shares during the last quarter. Finally, Creative Planning bought a new position in shares of HighPeak Energy during the 2nd quarter valued at $225,000. 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.