Riley Exploration Permian, Inc. (NYSE:REPX) to Issue Quarterly Dividend of $0.36

Riley Exploration Permian, Inc. (NYSE:REPX) declared a quarterly dividend on Friday, July 12th, Wall Street Journal reports. Shareholders of record on Thursday, July 25th will be paid a dividend of 0.36 per share on Thursday, August 8th. This represents a $1.44 annualized dividend and a yield of 4.84%. The ex-dividend date of this dividend is Thursday, July 25th.

Riley Exploration Permian has a dividend payout ratio of 20.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Riley Exploration Permian to earn $9.06 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 15.9%.

Riley Exploration Permian Price Performance

REPX traded up $0.19 on Friday, hitting $29.76. 126,552 shares of the company were exchanged, compared to its average volume of 144,048. The business’s fifty day moving average is $27.17 and its 200 day moving average is $26.50. The firm has a market capitalization of $641.15 million, a P/E ratio of 6.00 and a beta of 1.36. Riley Exploration Permian has a fifty-two week low of $21.27 and a fifty-two week high of $38.00. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.53 and a current ratio of 0.59.

Riley Exploration Permian (NYSE:REPX) last released its quarterly earnings results on Wednesday, May 8th. The company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.50 by $0.11. The business had revenue of $99.74 million for the quarter, compared to analyst estimates of $96.65 million. Riley Exploration Permian had a net margin of 24.16% and a return on equity of 25.64%. As a group, sell-side analysts anticipate that Riley Exploration Permian will post 6.45 EPS for the current year.

Analyst Ratings Changes

Separately, Truist Financial reduced their price objective on shares of Riley Exploration Permian from $51.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, May 6th.

Insider Activity at Riley Exploration Permian

In other Riley Exploration Permian news, CEO Bobby Riley sold 10,020 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $26.57, for a total transaction of $266,231.40. Following the transaction, the chief executive officer now owns 381,658 shares of the company’s stock, valued at $10,140,653.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Riley Exploration Permian news, CEO Bobby Riley sold 10,020 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $26.57, for a total transaction of $266,231.40. Following the transaction, the chief executive officer now owns 381,658 shares of the company’s stock, valued at $10,140,653.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Corey Neil Riley sold 2,500 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $26.61, for a total transaction of $66,525.00. Following the transaction, the insider now directly owns 146,837 shares in the company, valued at approximately $3,907,332.57. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.

About Riley Exploration Permian

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.