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

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

HighPeak Energy has a payout ratio of 17.4% meaning its dividend is sufficiently covered by earnings. 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 %

Shares of HPK stock opened at $15.07 on Friday. 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 has a 12 month low of $12.20 and a 12 month high of $17.48. 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 50 day simple moving average of $14.38 and a two-hundred day simple moving average of $14.79.

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

Analyst Upgrades and Downgrades

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

Insider Activity

In other HighPeak Energy news, CEO Jack Hightower bought 36,078 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $15.25 per share, for a total transaction of $550,189.50. Following the completion of the transaction, the chief executive officer now owns 4,859,255 shares of the company’s stock, valued at $74,103,638.75. This trade represents a 0.75 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 77.50% of the company’s stock.

About HighPeak Energy

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.