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

HighPeak Energy, Inc. (NASDAQ:HPK) announced a quarterly dividend on Monday, November 4th, Zacks reports. Shareholders 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 dividend yield of 1.13%. The ex-dividend date of this dividend is Monday, December 2nd.

HighPeak Energy has a payout ratio of 14.3% indicating that 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 Price Performance

Shares of NASDAQ HPK traded down $0.36 during mid-day trading on Wednesday, hitting $14.16. 112,470 shares of the stock traded hands, compared to its average volume of 328,961. The firm has a 50 day simple moving average of $14.47 and a two-hundred day simple moving average of $14.80. HighPeak Energy has a twelve month low of $12.20 and a twelve month high of $17.48. The company has a market cap of $1.81 billion, a PE ratio of 12.11 and a beta of 0.69. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.93 and a quick ratio of 0.90.

HighPeak Energy (NASDAQ:HPK) last issued 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 net margin of 14.05% and a return on equity of 15.99%. The business had revenue of $271.60 million during the quarter, compared to analyst estimates of $270.18 million. During the same quarter last year, the business earned $0.46 EPS. The firm’s quarterly revenue was down 21.4% on a year-over-year basis. As a group, equities research analysts forecast that HighPeak Energy will post 0.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at HighPeak Energy

In other HighPeak Energy news, CEO Jack Hightower acquired 17,743 shares of HighPeak Energy stock in a transaction dated Thursday, August 29th. The stock was purchased at an average cost of $15.50 per share, for a total transaction of $275,016.50. Following the completion of the acquisition, the chief executive officer now directly owns 4,805,350 shares of the company’s stock, valued at $74,482,925. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders purchased 203,821 shares of company stock valued at $3,154,206. Corporate 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.