Riley Exploration Permian, Inc. (NYSE:REPX) Declares $0.31 Quarterly Dividend

Riley Exploration Permian, Inc. (NYSE:REPX) announced a quarterly dividend on Friday, January 14th, Wall Street Journal reports. Shareholders of record on Wednesday, January 26th will be given a dividend of 0.31 per share on Wednesday, February 9th. This represents a $1.24 annualized dividend and a yield of 4.44%. The ex-dividend date is Tuesday, January 25th.

Riley Exploration Permian has a dividend payout ratio of 29.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Riley Exploration Permian to earn $4.26 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 29.1%.

REPX stock traded up $0.48 during midday trading on Friday, hitting $27.91. 16,455 shares of the company’s stock were exchanged, compared to its average volume of 26,745. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.27. Riley Exploration Permian has a 12-month low of $15.53 and a 12-month high of $79.20. The business has a 50 day moving average of $20.76.

Riley Exploration Permian (NYSE:REPX) last posted its quarterly earnings data on Monday, December 13th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.34. The business had revenue of $48.61 million for the quarter, compared to analysts’ expectations of $35.64 million. As a group, sell-side analysts anticipate that Riley Exploration Permian will post 3.87 EPS for the current year.

In related news, Director Bryan H. Lawrence sold 100,482 shares of the business’s stock in a transaction that occurred on Wednesday, October 27th. The stock was sold at an average price of $26.00, for a total transaction of $2,612,532.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Alvin Gerald Libin acquired 6,530 shares of Riley Exploration Permian stock in a transaction that occurred on Tuesday, October 26th. The shares were bought at an average price of $26.57 per share, with a total value of $173,502.10. The disclosure for this purchase can be found here. 51.50% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in Riley Exploration Permian by 42.0% during the 3rd quarter. Geode Capital Management LLC now owns 35,949 shares of the company’s stock valued at $844,000 after purchasing an additional 10,638 shares during the period. UBS Group AG boosted its position in Riley Exploration Permian by 2,555.4% during the 3rd quarter. UBS Group AG now owns 14,525 shares of the company’s stock valued at $341,000 after purchasing an additional 13,978 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in Riley Exploration Permian during the 3rd quarter worth $239,000. Institutional investors and hedge funds own 75.00% of the company’s stock.

Separately, Zacks Investment Research upgraded Riley Exploration Permian from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Saturday, December 18th.

About Riley Exploration Permian

Riley Exploration Permian, Inc is an independent oil and natural gas company. It engages in the acquisition, exploration, development and production of oil, natural gas, and natural gas liquids in the Permian Basin. The company was founded in 1916 and is headquartered in Oklahoma City, OK.

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