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

Riley Exploration Permian, Inc. (NYSE:REPX) declared a quarterly dividend on Tuesday, April 15th, Wall Street Journal reports. Shareholders of record on Thursday, April 24th will be paid a dividend of 0.38 per share on Thursday, May 8th. This represents a $1.52 dividend on an annualized basis and a yield of 6.26%. The ex-dividend date is Thursday, April 24th.

Riley Exploration Permian has raised its dividend payment by an average of 7.8% annually over the last three years. Riley Exploration Permian has a dividend payout ratio of 22.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Riley Exploration Permian to earn $7.06 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 21.5%.

Riley Exploration Permian Price Performance

REPX stock traded up $0.32 during trading on Tuesday, hitting $24.27. 73,647 shares of the stock traded hands, compared to its average volume of 116,308. 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 stock has a market cap of $521.97 million, a price-to-earnings ratio of 4.29 and a beta of 1.47. Riley Exploration Permian has a one year low of $21.98 and a one year high of $37.55. The company has a 50 day simple moving average of $29.62 and a 200 day simple moving average of $31.03.

Wall Street Analyst Weigh In

Separately, Truist Financial lifted their target price on Riley Exploration Permian from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, January 13th.

Insider Transactions at Riley Exploration Permian

In other Riley Exploration Permian news, CEO Bobby Riley sold 15,000 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $33.37, for a total value of $500,550.00. Following the completion of the sale, the chief executive officer now directly owns 296,375 shares in the company, valued at $9,890,033.75. This represents a 4.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Corey Neil Riley sold 3,500 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $27.34, for a total value of $95,690.00. Following the sale, the insider now directly owns 125,974 shares of the company’s stock, valued at approximately $3,444,129.16. The trade was a 2.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,477 shares of company stock worth $770,589. 3.90% of the stock is currently owned by company 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.