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

Riley Exploration Permian, Inc. (NYSE:REPX) declared a quarterly dividend on Thursday, January 9th,NASDAQ Dividends reports. Shareholders 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 yield of 4.58%. The ex-dividend date 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 dividend payout ratio of 20.0% indicating that its dividend is sufficiently covered by earnings. Equities 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

Shares of NYSE REPX 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 stock has a 50-day moving average price of $32.63 and a 200 day moving average price of $29.37. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.70 and a quick ratio of 0.64. The company has a market cap of $712.81 million, a price-to-earnings ratio of 5.88 and a beta of 1.46. Riley Exploration Permian has a 52 week low of $21.27 and a 52 week high of $37.15.

Insider Buying and Selling at Riley Exploration Permian

In other news, CEO Bobby Riley sold 1,310 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $35.17, for a total value of $46,072.70. Following the sale, the chief executive officer now owns 311,375 shares of the company’s stock, valued at $10,951,058.75. The trade was a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

About Riley Exploration Permian

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.