HighPeak Energy (NASDAQ:HPK) Sets New 12-Month High – Here’s Why

HighPeak Energy, Inc. (NASDAQ:HPK)’s share price hit a new 52-week high during trading on Friday. The company traded as high as $11.70 and last traded at $11.8590, with a volume of 20,958 shares traded. The stock had previously closed at $11.21.

Analyst Ratings Changes

A number of analysts recently weighed in on HPK shares. Wall Street Zen upgraded shares of HighPeak Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of HighPeak Energy in a research note 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, the stock presently has a consensus rating of “Reduce”.

HighPeak Energy Stock Up 5.0%

The stock has a market cap of $1.49 billion, a PE ratio of -14.88 and a beta of 0.36. The firm has a fifty day moving average of $8.56 and a 200 day moving average of $7.56. The company has a quick ratio of 0.85, a current ratio of 0.87 and a debt-to-equity ratio of 0.69.

HighPeak Energy (NASDAQ:HPK) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.59 earnings per share for the quarter, beating 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%. HighPeak Energy’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period last year, the firm earned $0.10 earnings per share. On average, equities research analysts anticipate that HighPeak Energy, Inc. will post 0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On HighPeak Energy

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in HighPeak Energy during the second quarter worth approximately $13,154,000. Bank of New York Mellon Corp purchased a new position in shares of HighPeak Energy during the second quarter worth about $1,188,000. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of HighPeak Energy during the second quarter worth about $5,426,000. PDT Partners LLC acquired a new stake in shares of HighPeak Energy in the second quarter valued at approximately $3,831,000. Finally, Ieq Capital LLC purchased a new stake in shares of HighPeak Energy in the second quarter valued at about $996,000. 24.13% of the stock is currently owned by hedge funds and other institutional investors.

HighPeak Energy Company Profile

HighPeak Energy, Inc (NASDAQ: HPK) is an independent energy company engaged in the acquisition, development and production of oil, natural gas and natural gas liquids. The company focuses primarily on unconventional reserves in the Permian Basin, one of the leading oil-producing regions in the United States.

HighPeak Energy’s operations are concentrated in the Midland Basin of West Texas, particularly in Howard and Borden counties. Its activities include drilling and completing horizontal wells, developing oil and gas acreage, and producing hydrocarbons for sale into regional energy markets.

The company became a publicly traded entity in 2020 through a business combination involving Pure Acquisition Corp.