HighPeak Energy (NASDAQ:HPK) Trading Up 8.2% – Here’s What Happened

HighPeak Energy, Inc. (NASDAQ:HPK) shares traded up 8.2% during mid-day trading on Friday . The stock traded as high as $7.13 and last traded at $7.1750. 246,276 shares changed hands during trading, a decline of 72% from the average session volume of 867,698 shares. The stock had previously closed at $6.63.

Wall Street Analyst Weigh In

A number of analysts recently commented on HPK shares. Wall Street Zen upgraded shares of HighPeak Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, June 30th. Weiss Ratings reissued a “sell (d)” rating on shares of HighPeak Energy in a research report on Wednesday, June 3rd. Finally, Zacks Research upgraded shares of HighPeak Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, HighPeak Energy currently has a consensus rating of “Hold” and an average price target of $12.00.

HighPeak Energy Stock Up 8.3%

The business’s 50 day moving average is $7.30 and its 200-day moving average is $6.31. The stock has a market cap of $907.25 million, a price-to-earnings ratio of -6.03 and a beta of 0.36. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.66 and a current ratio of 0.67.

HighPeak Energy (NASDAQ:HPK) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate of ($0.02). HighPeak Energy had a negative net margin of 18.78% and a negative return on equity of 0.73%. The firm had revenue of $215.89 million during the quarter, compared to the consensus estimate of $210.14 million. During the same quarter in the prior year, the firm earned $0.31 EPS. The company’s revenue for the quarter was down 20.7% on a year-over-year basis. On average, sell-side analysts predict that HighPeak Energy, Inc. will post -0.08 EPS for the current fiscal year.

Institutional Trading of HighPeak Energy

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of HighPeak Energy by 3.7% in the third quarter. Vanguard Group Inc. now owns 2,666,153 shares of the company’s stock valued at $18,850,000 after purchasing an additional 94,834 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in 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 buying an additional 55,955 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of HighPeak Energy by 12.4% in the 2nd quarter. Geode Capital Management LLC now owns 640,028 shares of the company’s stock worth $6,273,000 after acquiring an additional 70,590 shares during the last quarter. Denali Advisors LLC raised its holdings in shares of HighPeak Energy by 6.0% during the 4th quarter. Denali Advisors LLC now owns 617,628 shares of the company’s stock worth $2,928,000 after acquiring an additional 35,096 shares during the period. Finally, State Street Corp raised its holdings in shares of HighPeak Energy by 12.9% during the 4th quarter. State Street Corp now owns 558,108 shares of the company’s stock worth $2,645,000 after acquiring an additional 63,919 shares during the period. Hedge funds and other institutional investors 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.