Is HighPeak Energy, Inc. overvalued or undervalued?

As of 6 November 2023, HighPeak Energy, Inc. has moved from a fair to an expensive valuation grade. The company appears to be overvalued based on its current metrics. Key ratios include a P/E ratio of 14, an EV to EBITDA of 2.96, and a Price to Book Value of 0.86, which suggest that the stock is priced higher relative to its earnings and book value compared to peers.
In comparison to its peers, HighPeak Energy's P/E ratio is lower than Antero Resources Corp. at 17.26 and higher than Murphy Oil Corp. at 12.81, indicating a mixed valuation stance within the industry. Additionally, the company has significantly underperformed against the S&P 500, with a year-to-date return of -51.97% compared to the index's 12.22%, reinforcing the notion that the stock may be overvalued at its current price.