Pulling SEC filings + quote and writing the call…

HighPeak Energy, Inc.
Next earnings Aug 10, 2026 (after close) · consensus $-0.17 EPS, $227M rev
Last earnings -9.0% on 2026-05-06
Permian pure-play with collapsing earnings, rising leverage, and covenant amendments — a 50x P/E on a melting ice cube.
Sources: SEC EDGAR (CIK 0001792849, latest 10-Q filed 2026-05-06) · EODHD · analysis by claude-code · as of 6/25/2026, 2:40:49 PM.
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Weak on both the fundamentals and the price — little to like at the current level.
HighPeak's FY2025 numbers tell a stark story of operational and financial deterioration. Revenue fell 22.7% to $863M and net income collapsed 80.1% to just $19M, driving ROE down to a paltry 1.2% and net margin to 2.2%. The MD&A attributes this to 'decreased revenues associated with lower commodity prices and decreased sales volumes as a result of natural decline and decreased drilling and completion activity' — a dangerous combination for an E&P, since natural decline is structural and lower activity (cutting from two rigs to one in 2026) only accelerates the production roll-off. At $6.98, the stock trades at 49.9x trailing EPS, a valuation that makes no sense for a single-basin oil producer with shrinking output and falling realizations.
The risks, catalysts, 12-month price target and the cited SEC figures behind this rating — with Pro.
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| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $220M | $756M | $1.13B | $1.12B | $863M |
| Gross profit | — | — | — | — | — |
| Operating income | $102M | $423M | $426M | $337M | $150M |
| Net income | $55.6M | $237M | $216M | $95.1M | $19.0M |
| Diluted EPS | $0.54 | $1.93 | $1.58 | $0.67 | $0.14 |
| Net margin | 25.2% | 31.3% | 19.1% | 8.5% | 2.2% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Amendment to prior 8-K; clarifying disclosure update.
Annual meeting vote results disclosed; routine governance outcome.
Q1'26 10-Q filed; ongoing covenant pressure and lower commodity prices.
Q1'26 10-Q filed; ongoing covenant pressure and lower commodity prices.
Bylaw/charter amendment filed; administrative governance change.
Annual proxy: director slate, exec comp; routine governance filing.
FY25 10-K: debt up to $1.2B, covenants loosened, FCF squeezed; risk rising.
FY25 10-K: debt up to $1.2B, covenants loosened, FCF squeezed; risk rising.
Shelf registration filed; preserves optionality to raise equity/debt.
1071 tracked peers · median
Source: EODHD. Yield = trailing-12-month dividends ÷ price.
Dates from 8-K (Item 2.02); beat/miss = reported EPS vs consensus (Finnhub, recent quarters); move = prior close → close on/after.
Recent news tone vs the market's typical (which skews positive). A soft signal, not a recommendation.
| 2026-06-02 | COVINGTON KEITH Director | Award | 18.9K | |
| 2026-06-02 | Chernosky Jay M. Director | Award | 18.9K | |
| 2026-06-02 | Fulgham Sharon F. Director | Award | 18.9K | |
| 2026-06-02 | OLDHAM LARRY Director | Award | 18.9K | |
| 2026-06-02 | Edgeworth Jason A. Director | Award | 18.9K | |
| 2026-01-09 | Hollis Michael L. President and CEO | Award | 550K | |
| 2026-01-09 | Forbes Keith E CAO and Controller | Award | 25.0K | |
| 2026-01-09 | Hightower William Ryan Executive Vice President | Award | 50.0K |