HighPeak Energy, Inc. (NASDAQ:HPK – Get Free Report) shares dropped 5% on Monday. The company traded as low as $6.77 and last traded at $6.7820. Approximately 294,341 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 769,827 shares. The stock had previously closed at $7.14.
Wall Street Analyst Weigh In
HPK has been the subject of several research analyst reports. Zacks Research upgraded HighPeak Energy from a “hold” rating to a “strong-buy” rating in a report on Monday. Weiss Ratings raised HighPeak Energy from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, November 2nd. Finally, Wall Street Zen upgraded shares of 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 and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.
HighPeak Energy Stock Up 7.9%
The business has a 50-day moving average price of $8.84 and a 200-day moving average price of $7.17. The company has a market capitalization of $930.67 million, a price-to-earnings ratio of -6.81 and a beta of 0.05. 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 – Get Free Report) last released its quarterly earnings results on Monday, November 9th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.25. HighPeak Energy had a positive return on equity of 0.75% and a negative net margin of 13.84%. The business had revenue of $256.82 million during the quarter, compared to analyst estimates of $241.27 million. As a group, equities analysts anticipate that HighPeak Energy, Inc. will post 0.15 earnings per share for the current fiscal year.
Hedge Funds Weigh In On HighPeak Energy
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of HighPeak Energy in the second quarter worth $13,154,000. Bank of New York Mellon Corp acquired a new stake in HighPeak Energy during the 2nd quarter worth about $1,188,000. Texas Capital Bank Wealth Management Services Inc purchased a new position in HighPeak Energy during the 2nd quarter valued at about $5,426,000. Counterpoint Mutual Funds LLC purchased a new position in HighPeak Energy during the 3rd quarter valued at about $709,000. Finally, PDT Partners LLC acquired a new position in shares of HighPeak Energy in the 2nd quarter valued at about $3,831,000. 24.13% of the stock is currently owned by hedge funds and other institutional investors.
HighPeak Energy Company Profile
HighPeak Energy, Inc. is an independent oil and natural gas exploration and production company. It focuses on acquiring, developing and operating oil and gas properties, with production that includes crude oil, natural gas and natural gas liquids. The company’s operations are concentrated in the Permian Basin of West Texas, particularly in Howard and Borden counties. Its activities include drilling and completing wells and managing the infrastructure needed to produce and transport hydrocarbons.
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