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

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

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

HighPeak Energy Price Performance

HPK stock opened at $6.70 on Tuesday. The firm has a 50 day moving average price of $7.04 and a 200-day moving average price of $5.90. HighPeak Energy has a 52-week low of $3.85 and a 52-week high of $10.46. The firm has a market capitalization of $846.60 million, a price-to-earnings ratio of -5.63 and a beta of 0.35. 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 posted 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). The company had revenue of $215.89 million for the quarter, compared to the consensus estimate of $210.14 million. HighPeak Energy had a negative return on equity of 0.73% and a negative net margin of 18.78%.The firm’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.31 EPS. Equities research analysts forecast that HighPeak Energy will post -0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On HighPeak Energy

A number of hedge funds have recently added to or reduced their stakes in the company. Texas Capital Bank Wealth Management Services Inc bought a new position in HighPeak Energy in the 4th quarter valued at approximately $2,257,000. Renaissance Technologies LLC bought a new stake in shares of HighPeak Energy in the 4th quarter worth $576,000. Bank of America Corp DE increased its holdings in shares of HighPeak Energy by 831.1% in the 3rd quarter. Bank of America Corp DE now owns 108,047 shares of the company’s stock worth $764,000 after purchasing an additional 96,443 shares in the last quarter. Vanguard Group Inc. raised its stake 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 worth $18,850,000 after purchasing an additional 94,834 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of HighPeak Energy by 678.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 82,047 shares of the company’s stock worth $389,000 after purchasing an additional 71,503 shares during the last quarter. 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 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.