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

Riley Exploration Permian, Inc. (NYSE:REPX) announced a quarterly dividend on Tuesday, April 15th, Wall Street Journal reports. Investors 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 dividend yield of 6.07%. The ex-dividend date of this dividend 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 payout ratio of 22.4% 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 Stock Down 3.0 %

NYSE:REPX opened at $25.06 on Tuesday. The firm has a market capitalization of $539.32 million, a PE ratio of 4.44 and a beta of 1.47. Riley Exploration Permian has a 52 week low of $21.98 and a 52 week high of $37.55. 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 50 day moving average of $28.80 and a 200-day moving average of $30.95.

Insider Buying and Selling

In other Riley Exploration Permian news, CEO Bobby Riley sold 15,000 shares of the company’s stock in a transaction that occurred on 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Philip A. Riley sold 1,759 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $29.17, for a total value of $51,310.03. Following the completion of the sale, the chief financial officer now directly owns 188,172 shares in the company, valued at $5,488,977.24. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,477 shares of company stock valued at $770,589 in the last three months. 3.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.