HighPeak Energy, Inc. (HPK) to Issue Quarterly Dividend of $0.04 on December 23rd

HighPeak Energy, Inc. (NASDAQ:HPK) declared a quarterly dividend on Monday, November 4th,Zacks Dividends reports. Stockholders 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 1.06%. The ex-dividend date is Monday, December 2nd.

HighPeak Energy has a dividend payout ratio of 17.4% indicating that its dividend is sufficiently covered by earnings. Equities 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 Up 1.4 %

HighPeak Energy stock opened at $15.07 on Friday. HighPeak Energy has a 52 week low of $12.20 and a 52 week high of $17.48. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 11.87 and a beta of 0.69. The company’s 50-day moving average price is $14.38 and its two-hundred day moving average price is $14.79. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 0.59.

HighPeak Energy (NASDAQ:HPK) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.35 EPS 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 analyst estimates of $270.18 million. HighPeak Energy had a net margin of 15.94% and a return on equity of 14.83%. The business’s revenue for the quarter was down 21.4% on a year-over-year basis. During the same quarter last year, the business earned $0.46 earnings per share. On average, analysts expect that HighPeak Energy will post 0.77 EPS for the current fiscal year.

Insider Activity

In related news, CEO Jack Hightower purchased 100,000 shares of the company’s stock in a transaction on Friday, September 20th. The shares were bought at an average price of $15.54 per share, with a total value of $1,554,000.00. Following the completion of the acquisition, the chief executive officer now owns 4,959,255 shares of the company’s stock, valued at approximately $77,066,822.70. This represents a 2.06 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 77.50% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.