Wall Street Zen Upgrades HighPeak Energy (NASDAQ:HPK) to Hold

HighPeak Energy (NASDAQ:HPK) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Sunday.

Several other analysts have also recently weighed in on HPK. Zacks Research raised shares of HighPeak Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of HighPeak Energy in a research report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, HighPeak Energy has an average rating of “Hold” and a consensus price target of $12.00.

HighPeak Energy Stock Performance

HighPeak Energy stock opened at $7.85 on Friday. The firm has a 50 day simple moving average of $6.88 and a 200-day simple moving average of $5.83. HighPeak Energy has a 1-year low of $3.85 and a 1-year high of $12.00. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.67 and a quick ratio of 0.66. The stock has a market cap of $991.93 million, a price-to-earnings ratio of -6.60 and a beta of 0.35.

HighPeak Energy (NASDAQ:HPK) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, meeting 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 business had revenue of $215.89 million during the quarter, compared to analysts’ expectations of $210.14 million. During the same quarter in the prior year, the company posted $0.31 EPS. The business’s revenue for the quarter was down 20.7% on a year-over-year basis. On average, analysts expect that HighPeak Energy will post -0.14 EPS for the current year.

Hedge Funds Weigh In On HighPeak Energy

Hedge funds have recently made changes to their positions in the stock. Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of HighPeak Energy during the 4th quarter worth approximately $2,257,000. Hsbc Holdings PLC purchased a new position in shares of HighPeak Energy during the 1st quarter worth approximately $255,000. Kestra Advisory Services LLC purchased a new position in shares of HighPeak Energy during the 1st quarter worth approximately $70,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of HighPeak Energy during the 4th quarter worth approximately $29,000. Finally, Alpine Global Management LLC purchased a new position in shares of HighPeak Energy during the 4th quarter worth approximately $200,000. Hedge funds and other institutional investors own 24.13% of the company’s stock.

HighPeak Energy Company Profile

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.