Riley Exploration Permian, Inc. (REPX) to Distribute Quarterly Dividend of $0.40 on August 12th

Riley Exploration Permian, Inc. (NYSE:REPX) declared a quarterly dividend on Wednesday, July 15th. Shareholders of record on Wednesday, July 29th will be paid a dividend of 0.40 per share on Wednesday, August 12th. This represents a c) dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Wednesday, July 29th.

Riley Exploration Permian has a dividend payout ratio of 28.7% meaning 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 $1.60 annual dividend with an expected future payout ratio of 22.7%.

Riley Exploration Permian Stock Performance

REPX stock opened at $35.48 on Monday. The company has a market capitalization of $769.77 million, a PE ratio of 6.29 and a beta of 0.91. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.64 and a current ratio of 0.70. Riley Exploration Permian has a one year low of $24.08 and a one year high of $41.53. The company’s 50 day moving average price is $34.75 and its two-hundred day moving average price is $32.94.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Zacks Research cut shares of Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Roth Capital reaffirmed a “buy” rating and set a $45.00 price objective on shares of Riley Exploration Permian in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $46.00.

Riley Exploration Permian Company Profile

Riley Exploration Permian, Inc (NYSE:REPX) is a special purpose acquisition company formed to identify, acquire and operate assets in the oil and natural gas sector, with a dedicated focus on the Permian Basin. Incorporated in Delaware, the company completed its initial public offering on the New York Stock Exchange and is positioned to pursue a business combination with one or more upstream or midstream energy businesses. Riley Exploration Permian’s strategy centers on leveraging the region’s prolific reservoirs and existing infrastructure to drive growth and value for its shareholders.

The company seeks to target exploration and production assets in both the Midland and Delaware sub-basins of West Texas and southeastern New Mexico, where extensive pipeline networks and favorable geologic characteristics support efficient development.