Riley Exploration Permian, Inc. Plans Quarterly Dividend of $0.38 (NYSE:REPX)

Riley Exploration Permian, Inc. (NYSE:REPX) announced a quarterly dividend on Thursday, January 9th,NASDAQ Dividends reports. Investors of record on Thursday, January 23rd will be given a dividend of 0.38 per share on Thursday, February 6th. This represents a $1.52 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date is Thursday, January 23rd.

Riley Exploration Permian has raised its dividend by an average of 18.8% per year over the last three years. Riley Exploration Permian has a dividend payout ratio of 20.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Riley Exploration Permian to earn $7.19 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 21.1%.

Riley Exploration Permian Trading Up 0.8 %

REPX stock opened at $33.18 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.53. The firm has a market cap of $712.81 million, a P/E ratio of 5.88 and a beta of 1.46. Riley Exploration Permian has a 1-year low of $21.27 and a 1-year high of $37.15. The business’s 50 day moving average is $32.77 and its 200-day moving average is $29.40.

Wall Street Analyst Weigh In

Separately, Truist Financial lifted their price target on Riley Exploration Permian from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, November 14th.

Insiders Place Their Bets

In other Riley Exploration Permian news, CEO Bobby Riley sold 1,310 shares of Riley Exploration Permian stock in a transaction on Friday, November 29th. The shares were sold at an average price of $35.17, for a total transaction of $46,072.70. Following the completion of the sale, the chief executive officer now owns 311,375 shares of the company’s stock, valued at approximately $10,951,058.75. The trade was a 0.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.90% of the company’s stock.

Riley Exploration Permian Company Profile

Riley Exploration Permian, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in Texas and New Mexico. The company's activities are primarily focused on the Northwest Shelf and Yeso trend of the Permian Basin.