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

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

HighPeak Energy has a dividend payout ratio of 14.3% indicating that its dividend is sufficiently covered by earnings. 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

HighPeak Energy stock traded down $0.30 during midday trading on Wednesday, reaching $14.22. 438,432 shares of the stock traded hands, compared to its average volume of 330,477. HighPeak Energy has a fifty-two week low of $12.20 and a fifty-two 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. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 11.20 and a beta of 0.69. The firm has a fifty day moving average price of $14.45 and a two-hundred day moving average price of $14.79.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.12. HighPeak Energy had a return on equity of 14.94% and a net margin of 15.94%. The company had revenue of $271.60 million during the quarter, compared to analysts' expectations of $270.18 million. During the same quarter in the prior year, the business posted $0.46 earnings per share. The company's revenue for the quarter was down 21.4% compared to the same quarter last year. On average, equities research analysts forecast that HighPeak Energy will post 0.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Truist Financial reduced their price objective 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.

Insider Buying and Selling at HighPeak Energy

In related news, CEO Jack Hightower bought 100,000 shares of the business's stock in a transaction on Friday, September 20th. The stock was bought at an average price of $15.54 per share, for a total transaction of $1,554,000.00. Following the transaction, the chief executive officer now directly owns 4,959,255 shares in the company, valued at $77,066,822.70. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired a total of 203,821 shares of company stock valued at $3,154,206 in the last 90 days. 77.50% of the stock is currently owned by corporate 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.