HighPeak Energy, Inc. (HPK) shares rallied 19.7% in the last trading session to close at $9.80. 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 25.1% loss over the past four weeks.

HighPeak Energy, an independent oil and natural gas company focused on the exploration and development of unconventional oil reserves, saw a rise in its stock price. This increase was part of a broader rally in the energy sector, fueled by President Trump's announcement to reduce tariffs and delay hikes for most countries. As a result, and natural gas prices closed significantly higher, positively affecting companies like HighPeak Energy. The favorable market conditions, driven by this policy shift, contributed to the upward momentum in the company's stock.

This company is expected to post quarterly earnings of $0.33 per share in its upcoming report, which represents a year-over-year change of -10.8%. Revenues are expected to be $257.96 million, down 10.4% 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, the consensus EPS estimate for the quarter has been revised 90.5% 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 is a member of the Zacks Oil and Gas - Exploration and Production - United States industry. One other stock in the same industry, Range Resources (RRC), finished the last trading session 7.7% higher at $34.56. RRC has returned -14.3% over the past month.

For Range Resources , the consensus EPS estimate for the upcoming report has changed +12.7% over the past month to $0.88. This represents a change of +27.5% from what the company reported a year ago. Range Resources currently has a Zacks Rank of #3 (Hold).

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This article originally published on Zacks Investment Research (zacks.com).

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