HighPeak Energy, Inc. (NASDAQ:HPK) Declares $0.04 Quarterly Dividend

HighPeak Energy, Inc. (NASDAQ:HPK) announced a quarterly dividend on Monday, November 4th,Zacks Dividends reports. Investors of record on Monday, December 2nd will be given a dividend of 0.04 per share on Monday, December 23rd. This represents a $0.16 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Monday, December 2nd.

HighPeak Energy has a payout ratio of 17.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect HighPeak Energy to earn $0.99 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 16.2%.

HighPeak Energy Stock Performance

NASDAQ:HPK opened at $15.07 on Friday. The stock has a market cap of $1.91 billion, a P/E ratio of 11.87 and a beta of 0.69. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 0.59. The business’s 50-day moving average price is $14.38 and its two-hundred day moving average price is $14.79. HighPeak Energy has a twelve month low of $12.20 and a twelve month high of $17.48.

HighPeak Energy (NASDAQ:HPK) last released its quarterly earnings results on Monday, November 4th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.12. The business had revenue of $271.60 million for the quarter, compared to the consensus estimate of $270.18 million. HighPeak Energy had a return on equity of 14.83% and a net margin of 15.94%. The company’s revenue for the quarter was down 21.4% on a year-over-year basis. During the same quarter last year, the business posted $0.46 earnings per share. As a group, equities analysts predict that HighPeak Energy will post 0.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Truist Financial lifted their price target on HighPeak Energy from $12.00 to $14.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th.

Insider Buying and Selling

In other news, CEO Jack Hightower purchased 100,000 shares of HighPeak Energy stock in a transaction that occurred on Friday, September 20th. The shares were bought at an average cost of $15.54 per share, with a total value of $1,554,000.00. Following the completion of the purchase, the chief executive officer now directly owns 4,959,255 shares in the company, valued at approximately $77,066,822.70. This trade represents a 2.06 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 77.50% of the stock is currently owned by insiders.

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.