Riley Exploration Permian, Inc. (NYSE:REPX) Declares Dividend Increase – $0.38 Per Share

Riley Exploration Permian, Inc. (NYSE:REPX) announced a quarterly dividend on Thursday, October 10th, Wall Street Journal reports. Stockholders of record on Thursday, October 24th will be paid a dividend of 0.38 per share on Thursday, November 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 5.53%. The ex-dividend date is Thursday, October 24th. This is an increase from Riley Exploration Permian’s previous quarterly dividend of $0.36.

Riley Exploration Permian has a dividend payout ratio of 21.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Riley Exploration Permian to earn $7.29 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 20.9%.

Riley Exploration Permian Trading Down 1.0 %

Shares of Riley Exploration Permian stock opened at $27.49 on Tuesday. Riley Exploration Permian has a 12-month low of $21.27 and a 12-month high of $34.90. The stock has a market cap of $593.23 million, a P/E ratio of 5.66 and a beta of 1.33. The company has a quick ratio of 0.58, a current ratio of 0.63 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $27.43 and its 200-day moving average is $27.48.

Riley Exploration Permian (NYSE:REPX) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.13). Riley Exploration Permian had a net margin of 23.95% and a return on equity of 25.74%. The business had revenue of $105.40 million during the quarter, compared to the consensus estimate of $106.62 million. Equities research analysts predict that Riley Exploration Permian will post 6.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Riley Exploration Permian news, CEO Bobby Riley sold 6,302 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $26.52, for a total transaction of $167,129.04. Following the transaction, the chief executive officer now owns 335,356 shares in the company, valued at $8,893,641.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.90% of the company’s stock.

Analyst Ratings Changes

Separately, Truist Financial dropped their price target on Riley Exploration Permian from $45.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, September 30th.

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.