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Strength Seen in HighPeak Energy, Inc. (HPK): Can Its 31.8% Jump Turn into More Strength?
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HighPeak Energy, Inc. (HPK - Free Report) shares rallied 31.8% in the last trading session to close at $28.83. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 16.3% gain over the past four weeks.
HighPeak Energy continued its surge for the second straight day after being touted by Jim Cramer on CNBC. The bullishness is also driven by a sturdy increase in oil prices to more than $100 a barrel and natural gas surging to over $6 per MMBtu lifting the energy space and contributing to the strength of HighPeak Energy, whose productive capacity is based in West Texas’ Midland Basin.
This company is expected to post quarterly earnings of $0.50 per share in its upcoming report, which represents a year-over-year change of +900%. Revenues are expected to be $120.4 million, up 368.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For HighPeak Energy, Inc., the consensus EPS estimate for the quarter has been revised 7.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on HPK going forward to see if this recent jump can turn into more strength down the road.
HighPeak Energy, Inc. is part of the Zacks Oil and Gas - Exploration and Production - United States industry. Riley Exploration Permian, Inc. (REPX - Free Report) , another stock in the same industry, closed the last trading session 1.5% lower at $23.10. REPX has returned -16.6% in the past month.
Riley Exploration Permian, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.85. Compared to the company's year-ago EPS, this represents a change of +114.7%. Riley Exploration Permian, Inc. currently boasts a Zacks Rank of #4 (Sell).
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Strength Seen in HighPeak Energy, Inc. (HPK): Can Its 31.8% Jump Turn into More Strength?
HighPeak Energy, Inc. (HPK - Free Report) shares rallied 31.8% in the last trading session to close at $28.83. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 16.3% gain over the past four weeks.
HighPeak Energy continued its surge for the second straight day after being touted by Jim Cramer on CNBC. The bullishness is also driven by a sturdy increase in oil prices to more than $100 a barrel and natural gas surging to over $6 per MMBtu lifting the energy space and contributing to the strength of HighPeak Energy, whose productive capacity is based in West Texas’ Midland Basin.
This company is expected to post quarterly earnings of $0.50 per share in its upcoming report, which represents a year-over-year change of +900%. Revenues are expected to be $120.4 million, up 368.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For HighPeak Energy, Inc., the consensus EPS estimate for the quarter has been revised 7.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on HPK going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
HighPeak Energy, Inc. is part of the Zacks Oil and Gas - Exploration and Production - United States industry. Riley Exploration Permian, Inc. (REPX - Free Report) , another stock in the same industry, closed the last trading session 1.5% lower at $23.10. REPX has returned -16.6% in the past month.
Riley Exploration Permian, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.85. Compared to the company's year-ago EPS, this represents a change of +114.7%. Riley Exploration Permian, Inc. currently boasts a Zacks Rank of #4 (Sell).