HighPeak Energy (NASDAQ:HPK) Posts Quarterly Earnings Results, Beats Expectations By $0.25 EPS

HighPeak Energy (NASDAQ:HPK) released its quarterly earnings results on Monday. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.25, FiscalAI reports. HighPeak Energy had a negative net margin of 10.52% and a negative return on equity of 1.44%. The firm had revenue of $256.82 million during the quarter, compared to analysts’ expectations of $241.27 million.

HighPeak Energy Trading Down 5.3%

HPK traded down $0.38 during trading hours on Monday, reaching $6.76. 636,714 shares of the company’s stock traded hands, compared to its average volume of 771,543. The firm has a 50-day moving average price of $8.89 and a 200 day moving average price of $7.14. HighPeak Energy has a 52-week low of $3.85 and a 52-week high of $12.03. 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 firm has a market capitalization of $854.82 million, a PE ratio of -8.56 and a beta of 0.05.

Analysts Set New Price Targets

A number of research firms recently weighed in on HPK. Wall Street Zen raised shares of HighPeak Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. Weiss Ratings raised shares of HighPeak Energy from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, November 2nd. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce”.

HighPeak Energy Company Profile

HighPeak Energy, Inc (NASDAQ: HPK) is an independent energy company engaged in the acquisition, development and production of oil, natural gas and natural gas liquids. The company focuses primarily on unconventional reserves in the Permian Basin, one of the leading oil-producing regions in the United States.

HighPeak Energy’s operations are concentrated in the Midland Basin of West Texas, particularly in Howard and Borden counties. Its activities include drilling and completing horizontal wells, developing oil and gas acreage, and producing hydrocarbons for sale into regional energy markets.

The company became a publicly traded entity in 2020 through a business combination involving Pure Acquisition Corp.