HighPeak Energy, Inc. (NASDAQ:HPK) to Issue Quarterly Dividend of $0.04

HighPeak Energy, Inc. (NASDAQ:HPK) announced a quarterly dividend on Monday, November 4th, Zacks reports. Investors of record on Monday, December 2nd will be paid a dividend of 0.04 per share on Monday, December 23rd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Monday, December 2nd.

HighPeak Energy has a payout ratio of 14.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect HighPeak Energy to earn $1.04 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 15.4%.

HighPeak Energy Stock Performance

NASDAQ HPK traded up $0.01 during trading hours on Wednesday, reaching $14.53. The company’s stock had a trading volume of 70,493 shares, compared to its average volume of 328,766. The stock has a market cap of $1.86 billion, a PE ratio of 12.46 and a beta of 0.69. The business has a 50-day simple moving average of $14.47 and a 200 day simple moving average of $14.80. HighPeak Energy has a 52 week low of $12.20 and a 52 week high of $17.48. The company has a current ratio of 0.93, a quick ratio of 0.90 and a debt-to-equity ratio of 0.62.

HighPeak Energy (NASDAQ:HPK) last released its quarterly earnings data on Monday, November 4th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.12. HighPeak Energy had a return on equity of 15.99% and a net margin of 14.05%. The business had revenue of $271.60 million during the quarter, compared to analyst estimates of $270.18 million. During the same quarter in the previous year, the firm posted $0.46 EPS. The business’s revenue for the quarter was down 21.4% compared to the same quarter last year. Equities research analysts predict that HighPeak Energy will post 0.65 earnings per share for the current fiscal year.

Insider Buying and Selling at HighPeak Energy

In other HighPeak Energy news, CEO Jack Hightower bought 17,743 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were purchased at an average price of $15.50 per share, with a total value of $275,016.50. Following the purchase, the chief executive officer now directly owns 4,805,350 shares of the company’s stock, valued at approximately $74,482,925. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders have bought 203,821 shares of company stock worth $3,154,206. 77.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, Truist Financial lowered their price target on shares of HighPeak Energy from $14.00 to $12.00 and set a “hold” rating for the company in a research report on Monday, September 30th.

HighPeak Energy Company Profile

HighPeak Energy, Inc, an independent oil and natural gas company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids reserves in the Permian Basin in West Texas and Eastern New Mexico. The company was incorporated in 2019 and is headquartered in Fort Worth, Texas.