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Sunday, July 3, 2022

HighPeak Energy, Inc. (HPK) Stock on a Bullish Ride in Premarket Amidst Russia-Ukraine Chaos.

HighPeak Energy, Inc. (HPK) is an independent and publicly traded oil and gas company, engaged in the acquisition, and exploration of non-traditional oil and gas reserves. Its shares rose gradually by 3.94% to remain at $21.8 at the closing of Tuesday’s regular trading. Its price further leaped forward by 17.6% in premarket trading. The current stock price as of the writing stands at $25.7.


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HPK: Recent Developments

HPK issued its fourth-quarter 2021 financial outcomes on March 7, for the quarter ended December 31, 2021. The key aspects discussed by the company include

  • Total operating revenues reported by the company were $98.6 million and posted a revenue surprise of $13.3 million.
  • Its earnings per share for the quarter were observed to be $0.35, with missed estimates of $0.04.

HPK: Industry Outlook

A lot is happening in the energy sector as geopolitical tensions rise between Russia and Ukraine. Although the ongoing crisis is playing a pivotal role in the narrative building it isn’t solely dependent on the effects of the war. S&P 500 ranked the energy sector as its most powerful industrial component for 2021 with an approximate return of 53.5%. Also, in 2022 it has already gained by 38.8% according to a report, which determines that it is on investor’s buy lists.

HPK: Company Outlook

Certain investment analysts raised their Q3 2022 earnings estimates for the company to be $1.30 per share against the previous estimates of $1.29. For Q4 2022, the company’s earnings are estimated to be $1.38 EPS against FY22 EPS to be $4.14. In other news, the company’s Director sold 8,000 shares of its stock at an average price of $22.66, for a total amount of $0.18 million.

Conclusion

HPK is playing well when it comes to the stock position from the previous year as it rose by 187% from the period. The current premarket gain is the effect of the mounting pressure on the energy sector as a result of rising tensions between Russia and Ukraine.

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