Riley Exploration Permian, Inc. (NYSE:REPX) Declares $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 annualized dividend and a dividend yield of 6.26%. The ex-dividend date is Thursday, April 24th.

Riley Exploration Permian has raised its dividend by an average of 7.8% per year over the last three years. Riley Exploration Permian has a payout ratio of 22.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 1.3 %

Shares of Riley Exploration Permian stock opened at $24.27 on Wednesday. The company has a 50-day moving average of $29.46 and a two-hundred day moving average of $30.98. Riley Exploration Permian has a 12-month low of $21.98 and a 12-month 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 market cap of $521.93 million, a PE ratio of 4.30 and a beta of 1.47.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, insider Corey Neil Riley sold 3,500 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $27.34, for a total transaction of $95,690.00. Following the sale, the insider now owns 125,974 shares of the company’s stock, valued at $3,444,129.16. This trade represents a 2.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Philip A. Riley sold 1,759 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $29.17, for a total transaction of $51,310.03. Following the transaction, the chief financial officer now directly owns 188,172 shares in the company, valued at $5,488,977.24. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,477 shares of company stock worth $770,589. Insiders own 3.90% of the company’s stock.

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.