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

Riley Exploration Permian, Inc. (NYSE:REPX) announced a quarterly dividend on Tuesday, April 15th, Wall Street Journal reports. Stockholders 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 payment 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. 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 Price Performance

REPX stock traded up $0.32 during midday trading on Tuesday, hitting $24.27. 73,647 shares of the stock were exchanged, compared to its average volume of 116,308. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.64 and a current ratio of 0.70. The stock has a market cap of $521.97 million, a price-to-earnings ratio of 4.29 and a beta of 1.47. Riley Exploration Permian has a fifty-two week low of $21.98 and a fifty-two week high of $37.55. The stock’s 50-day moving average price is $29.62 and its 200-day moving average price is $31.03.

Insiders Place Their Bets

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

Analysts Set New Price Targets

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

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.