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

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 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend is Thursday, January 23rd.

Riley Exploration Permian has raised its dividend payment by an average of 18.8% annually 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 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 Trading Up 0.8 %

Shares of REPX traded up $0.26 during trading hours on Friday, reaching $33.18. 73,872 shares of the company traded hands, compared to its average volume of 86,795. The firm 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 12-month low of $21.27 and a 12-month high of $37.15. The stock’s fifty day moving average price is $32.63 and its 200 day moving average price is $29.37. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.53.

Analyst Ratings Changes

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

Insider Buying and Selling at Riley Exploration Permian

In other news, CEO Bobby Riley sold 4,636 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $35.19, for a total transaction of $163,140.84. Following the transaction, the chief executive officer now directly owns 321,739 shares in the company, valued at approximately $11,321,995.41. This trade represents a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.90% of the stock is currently owned by corporate insiders.

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.