Stock Track | HighPeak Energy Shares Soar on Q3 Earnings Beat

Stock Track11-05

HighPeak Energy (HPK) shares surged 5.25% on Monday, November 5th, as the company reported better-than-expected earnings for the third quarter.

The oil and gas exploration company reported earnings per share of $0.35 for the quarter ended September 30, surpassing analysts' average estimate of $0.23. However, revenue for the quarter declined 21.4% year-over-year to $271.6 million, missing the consensus estimate of $267.6 million.

Despite the revenue miss, investors appeared to focus on the earnings beat, driving HighPeak Energy's stock higher. Analysts have a positive outlook on the company, with one "strong buy" or "buy" rating and one "hold" rating. The average consensus recommendation for the oil & gas exploration and production peer group is a "hold."

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