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

Riley Exploration Permian, Inc. (NYSE:REPX) announced a quarterly dividend on Thursday, January 9th,NASDAQ Dividends reports. Shareholders 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 annualized dividend 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 dividend payout ratio of 20.0% indicating that 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 Price Performance

NYSE REPX traded up $0.26 during trading on Friday, reaching $33.18. The company’s stock had a trading volume of 73,872 shares, compared to its average volume of 86,795. The firm has a fifty day moving average of $32.63 and a 200 day moving average of $29.37. The stock has a market capitalization of $712.81 million, a PE ratio of 5.88 and a beta of 1.46. 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 one year low of $21.27 and a one year high of $37.15.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Riley Exploration Permian news, CEO Bobby Riley sold 1,310 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $35.17, for a total transaction of $46,072.70. Following the completion of the transaction, the chief executive officer now owns 311,375 shares in the company, valued at $10,951,058.75. This trade represents a 0.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.90% of the stock is owned by insiders.

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.