HighPeak Energy Earnings: What To Look For From HPK

Oil and gas producer HighPeak Energy (NASDAQ:HPK) will be reporting earnings this Monday after market hours. Here’s what to look for.

HighPeak Energy beat analysts’ revenue expectations last quarter, reporting revenues of $215.9 million, down 20.7% year on year. It was a satisfactory quarter for the company, with EPS in line with analysts’ estimates.

Is HighPeak Energy a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting HighPeak Energy’s revenue to grow 25% year on year, a reversal from the 27.2% decrease it recorded in the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. HighPeak Energy has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at HighPeak Energy’s peers in the u.s. shale e&p segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Matador Resources delivered year-on-year revenue growth of 32.5%, beating analysts’ expectations by 13.7%, and Cactus reported revenues up 64.3%, topping estimates by 12.3%. Matador Resources traded up 3.5% following the results while Cactus was also up 18.5%.

Read our full analysis of Matador Resources’s results here and Cactus’s results here.

There has been positive sentiment among investors in the u.s. shale e&p segment, with share prices up 2.1% on average over the last month. HighPeak Energy is up 3.9% during the same time and is heading into earnings with an average analyst price target of $10 (compared to the current share price of $7.28).

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