Riley Exploration Permian, Inc. (NYSE:REPX) Plans $0.40 Quarterly Dividend

Riley Exploration Permian, Inc. (NYSE:REPX) declared a quarterly dividend on Tuesday, April 14th. Investors of record on Wednesday, April 29th will be paid a dividend of 0.40 per share on Wednesday, May 13th. This represents a c) annualized dividend and a yield of 4.6%. The ex-dividend date is Wednesday, April 29th.

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

Riley Exploration Permian Trading Down 1.0%

Shares of REPX stock opened at $34.51 on Thursday. Riley Exploration Permian has a 12-month low of $24.07 and a 12-month high of $41.26. The company has a market capitalization of $744.28 million, a P/E ratio of 6.12 and a beta of 1.10. The firm has a 50-day moving average price of $32.64 and a 200 day moving average price of $28.81. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.53.

Insider Activity

In other Riley Exploration Permian news, insider Corey Neil Riley sold 3,500 shares of the firm’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $27.41, for a total value of $95,935.00. Following the completion of the sale, the insider owned 158,565 shares in the company, valued at approximately $4,346,266.65. This trade represents a 2.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Bobby Riley sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $27.79, for a total transaction of $347,375.00. Following the completion of the sale, the chief executive officer owned 336,931 shares of the company’s stock, valued at $9,363,312.49. The trade was a 3.58% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Riley Exploration Permian

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. McAlvany Wealth Management LLC acquired a new stake in shares of Riley Exploration Permian during the 4th quarter worth approximately $943,000. Invesco Ltd. grew its position in shares of Riley Exploration Permian by 38.8% during the 4th quarter. Invesco Ltd. now owns 29,903 shares of the company’s stock worth $789,000 after buying an additional 8,363 shares during the period. Mackenzie Financial Corp grew its position in shares of Riley Exploration Permian by 12.3% during the 4th quarter. Mackenzie Financial Corp now owns 163,215 shares of the company’s stock worth $4,364,000 after buying an additional 17,941 shares during the period. VARCOV Co. acquired a new stake in shares of Riley Exploration Permian during the 4th quarter worth approximately $304,000. Finally, Susquehanna Portfolio Strategies LLC grew its position in shares of Riley Exploration Permian by 19.8% during the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 18,178 shares of the company’s stock worth $480,000 after buying an additional 3,001 shares during the period. Institutional investors and hedge funds own 58.91% of the company’s stock.

About Riley Exploration Permian

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.