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

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

Riley Exploration Permian has increased its dividend by an average of 18.8% per year over the last three years. Riley Exploration Permian has a payout ratio of 20.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

Riley Exploration Permian stock traded up $0.26 during midday trading on Friday, reaching $33.18. 73,872 shares of the company traded hands, compared to its average volume of 86,795. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.70 and a quick ratio of 0.64. Riley Exploration Permian has a 12 month low of $21.27 and a 12 month high of $37.15. The firm has a market capitalization of $712.81 million, a price-to-earnings ratio of 5.88 and a beta of 1.46. The business has a 50 day moving average of $32.63 and a two-hundred day moving average of $29.37.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Riley Exploration Permian

In other news, CEO Bobby Riley sold 4,636 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $35.19, for a total value of $163,140.84. Following the transaction, the chief executive officer now directly owns 321,739 shares in the company, valued at $11,321,995.41. The trade was a 1.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.90% of the stock is owned by corporate insiders.

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.