HighPeak Energy, Inc. to Issue Quarterly Dividend of $0.03 (NASDAQ:HPK)

HighPeak Energy, Inc. (NASDAQ:HPK) declared a quarterly dividend on Friday, September 24th, Wall Street Journal reports. Shareholders of record on Friday, October 15th will be given a dividend of 0.025 per share on Monday, October 25th. This represents a $0.10 annualized dividend and a yield of 1.11%. The ex-dividend date is Thursday, October 14th.

HighPeak Energy has a payout ratio of 5.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect HighPeak Energy to earn $1.12 per share next year, which means the company should continue to be able to cover its $0.03 annual dividend with an expected future payout ratio of 2.7%.

HPK stock opened at $9.00 on Friday. HighPeak Energy has a 1-year low of $4.20 and a 1-year high of $21.82. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.69 and a current ratio of 0.70. The business has a 50 day simple moving average of $9.90 and a two-hundred day simple moving average of $9.23.

HighPeak Energy (NASDAQ:HPK) last posted its earnings results on Monday, August 9th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.05). HighPeak Energy had a negative net margin of 6.45% and a negative return on equity of 1.24%. The firm had revenue of $48.27 million for the quarter, compared to the consensus estimate of $45.60 million. Equities analysts predict that HighPeak Energy will post 0.55 EPS for the current year.

An institutional investor recently raised its position in HighPeak Energy stock. Bank of America Corp DE boosted its position in shares of HighPeak Energy, Inc. (NASDAQ:HPK) by 44.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,098 shares of the company’s stock after acquiring an additional 1,576 shares during the quarter. Bank of America Corp DE’s holdings in HighPeak Energy were worth $52,000 at the end of the most recent quarter. 1.85% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently commented on the company. Seaport Global Securities assumed coverage on HighPeak Energy in a research note on Thursday, July 22nd. They set a “buy” rating and a $15.00 price target on the stock. Seaport Res Ptn reissued a “buy” rating on shares of HighPeak Energy in a report on Thursday, July 22nd.

HighPeak Energy Company Profile

Pure Acquisition Corp. engages in the provision of merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business combination. It focuses on energy industry with an emphasis on opportunities in the upstream oil and gas industry in North America. The company was founded on November 13, 2017 and is headquartered in Fort Worth, TX.

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