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

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 paid 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 of this dividend is Tuesday, January 25th.

Riley Exploration Permian has a dividend payout ratio of 29.1% meaning its dividend is sufficiently covered by earnings. Equities 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%.

Shares of REPX opened at $27.91 on Friday. The company’s fifty day simple moving average is $20.80. The company has a current ratio of 0.44, a quick 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.

Riley Exploration Permian (NYSE:REPX) last issued its earnings results on Monday, December 13th. The company reported $0.94 EPS for the quarter, beating 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. On average, equities research analysts expect that Riley Exploration Permian will post 3.87 earnings per share for the current year.

In related news, Director Bryan H. Lawrence sold 100,482 shares of Riley Exploration Permian stock in a transaction 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 filing with the SEC, which is available through the SEC website. Also, major shareholder Alvin Gerald Libin bought 6,530 shares of the stock in a transaction that occurred on Tuesday, October 26th. The shares were bought at an average price of $26.57 per share, for a total transaction of $173,502.10. The disclosure for this purchase can be found here. Company insiders own 51.50% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in Riley Exploration Permian by 42.0% during the third 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 in the last quarter. UBS Group AG raised its holdings in Riley Exploration Permian by 2,555.4% during the third quarter. UBS Group AG now owns 14,525 shares of the company’s stock valued at $341,000 after acquiring an additional 13,978 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in Riley Exploration Permian during the third quarter valued at about $239,000. Institutional investors 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 on the stock in a research note on Saturday, December 18th.

Riley Exploration Permian Company Profile

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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