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

Key Points

• HighPeak Energy, Inc. has declared a quarterly dividend of $0.04 per share, with the ex-dividend date set for September 2nd and payment scheduled for September 25th.
• The company's earnings report revealed a net margin of 12.03% and a decrease in revenue of 27.2% year-over-year, generating $200.4 million compared to a forecast of $210.87 million.
• Despite recent performance, HighPeak Energy maintains a low payout ratio of 18.4%, indicating the dividend is well-supported by expected earnings of $0.96 per share next year.

HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report) declared a quarterly dividend on Tuesday, August 12th, Wall Street Journal reports. Stockholders of record on Tuesday, September 2nd will be paid a dividend of 0.04 per share on Thursday, September 25th. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, September 2nd.

HighPeak Energy has a payout ratio of 18.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect HighPeak Energy to earn $0.96 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 16.7%.

HighPeak Energy Stock Performance

Shares of HPK traded down $1.13 during midday trading on Tuesday, reaching $7.30. The stock had a trading volume of 1,564,514 shares, compared to its average volume of 346,509. The firm has a 50 day simple moving average of $9.96 and a 200-day simple moving average of $10.77. HighPeak Energy has a one year low of $7.26 and a one year high of $16.56. The firm has a market cap of $920.31 million, a PE ratio of 8.30 and a beta of 1.06. The company has a current ratio of 0.51, a quick ratio of 0.48 and a debt-to-equity ratio of 0.55.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.01). HighPeak Energy had a net margin of 12.03% and a return on equity of 8.79%. The company had revenue of $200.40 million during the quarter, compared to analyst estimates of $210.87 million. During the same quarter last year, the company posted $0.28 EPS. The firm's quarterly revenue was down 27.2% on a year-over-year basis. As a group, sell-side analysts anticipate that HighPeak Energy will post 0.78 EPS for the current year.

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.

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