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

HighPeak Energy, Inc. (NASDAQ:HPK)’s share price reached a new 52-week high during mid-day trading on Friday. The company traded as high as $9.23 and last traded at $9.1740, with a volume of 112175 shares. The stock had previously closed at $8.73.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Weiss Ratings restated a “sell (d)” rating on shares of HighPeak Energy in a research note on Monday, August 31st. Wall Street Zen upgraded HighPeak Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.00.

HighPeak Energy Stock Performance

The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -12.02 and a beta of 0.36. The company has a quick ratio of 0.85, a current ratio of 0.87 and a debt-to-equity ratio of 0.69. The stock has a 50-day moving average price of $7.92 and a 200 day moving average price of $7.30.

HighPeak Energy (NASDAQ:HPK) last issued its earnings results on Monday, August 10th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $272.42 million for the quarter, compared to analysts’ expectations of $240.03 million. During the same quarter last year, the company earned $0.10 earnings per share. The firm’s revenue was up 25.8% compared to the same quarter last year. On average, analysts forecast that HighPeak Energy, Inc. will post -0.08 EPS for the current year.

Institutional Investors Weigh In On HighPeak Energy

Large investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of HighPeak Energy during the 2nd quarter worth about $13,154,000. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of HighPeak Energy during the 2nd quarter worth about $5,426,000. PDT Partners LLC purchased a new stake in HighPeak Energy during the second quarter worth approximately $3,831,000. Empowered Funds LLC acquired a new position in HighPeak Energy in the second quarter valued at approximately $1,285,000. Finally, Bank of New York Mellon Corp acquired a new position in HighPeak Energy in the second quarter valued at approximately $1,188,000. 24.13% of the stock is owned by hedge funds and other institutional investors.

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.