Oil and gas producer HighPeak Energy (NASDAQ:HPK) will be reporting results this Wednesday after market close. Here’s what investors should know.
HighPeak Energy beat analysts’ revenue expectations last quarter, reporting revenues of $216.6 million, down 23.3% year on year. It was a softer quarter for the company, with a significant miss of analysts’ EBITDA and EPS 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 decline 17.2% year on year, a further deceleration from the 10.5% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to 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 Q1 results, giving us a hint as to what we can expect. Crescent Energy delivered year-on-year revenue growth of 24.5%, meeting analysts’ expectations, and Diamondback Energy reported revenues up 4.7%, topping estimates by 10.5%.
Read our full analysis of Crescent Energy’s results here and Diamondback Energy’s results here.
There has been positive sentiment among investors in the u.s. shale e&p segment, with share prices up 5.1% on average over the last month. HighPeak Energy is down 1.5% during the same time and is heading into earnings with an average analyst price target of $7.88 (compared to the current share price of $6.94).
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