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

Riley Exploration Permian, Inc. (NYSE:REPX - Get Free Report) announced a quarterly dividend on Tuesday, April 15th, Wall Street Journal reports. Investors 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 yield of 5.88%. The ex-dividend date is Thursday, April 24th.

Riley Exploration Permian has increased its dividend payment by an average of 7.8% annually over the last three years. Riley Exploration Permian has a payout ratio of 22.4% indicating that its dividend is sufficiently covered by earnings. 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 Trading Up 4.7 %

Shares of Riley Exploration Permian stock traded up $1.16 on Friday, reaching $25.84. The company had a trading volume of 103,279 shares, compared to its average volume of 114,839. 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 firm has a market cap of $556.10 million, a PE ratio of 4.58 and a beta of 1.47. The firm's 50 day moving average price is $28.97 and its two-hundred day moving average price is $30.95. Riley Exploration Permian has a 52-week low of $21.98 and a 52-week high of $37.55.

Analyst Ratings Changes

Separately, Truist Financial raised their price target on Riley Exploration Permian from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Monday, January 13th.

Insider Transactions at Riley Exploration Permian

In other Riley Exploration Permian news, CEO Bobby Riley sold 15,000 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $33.37, for a total value of $500,550.00. Following the sale, the chief executive officer now owns 296,375 shares of the company's stock, valued at $9,890,033.75. This trade represents a 4.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Corey Neil Riley sold 3,500 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $27.34, for a total transaction of $95,690.00. Following the transaction, the insider now owns 125,974 shares of the company's stock, valued at $3,444,129.16. This trade represents a 2.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,477 shares of company stock valued at $770,589. 3.90% of the stock is currently owned by corporate insiders.

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.