Jim Cramer on Highpeak Energy (HPK): “Oil at $62 a Barrel Does Not Make Me Interested”

We recently published a list of Jim Cramer Talked About These 16 Stocks Recently. In this article, we are going to take a look at where HighPeak Energy, Inc. (NASDAQ:HPK) stands against other stocks that Jim Cramer discussed recently.

During the lightning round, a caller asked about HighPeak Energy, Inc. (NASDAQ:HPK), and in response, Cramer said:

“Okay, Rusty Braziel once told me this was a terrific company. The problem is, oil at $62 a barrel does not make me interested. If you think oil’s going to go up, you do have a winner, though. Highpeak is levered to the price of oil more than almost all of them.”

HighPeak Energy (NASDAQ:HPK) is an independent company focused on exploring, developing, and producing crude oil, natural gas, and natural gas liquids. On May 12, the company reported its first-quarter earnings results.

It reported that daily sales volumes averaged around 53.1 thousand barrels of crude oil equivalent, which was a 6% rise from the previous quarter. HighPeak Energy (NASDAQ:HPK) posted net income of $36.3 million, or $0.26 per diluted share. The company’s EBITDAX reported was $197.3 million, or $1.40 per diluted share.

Jim Cramer on Highpeak Energy (HPK): “Oil at $62 a Barrel Does Not Make Me Interested”

An aerial view of drilling rigs and gas pipelines in West Texas, revealing the company’s operations.

Overall, HPK ranks 15th on our list of stocks that Jim Cramer discussed recently. While we acknowledge the potential of HPK as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than HPK and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.