Riley Exploration Permian, Inc. (REPX) To Go Ex-Dividend on October 24th

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

Riley Exploration Permian has a 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 %

NYSE:REPX opened at $27.49 on Tuesday. Riley Exploration Permian has a fifty-two week low of $21.27 and a fifty-two week high of $34.90. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.63 and a quick ratio of 0.58. The stock has a market capitalization of $593.23 million, a PE ratio of 5.66 and a beta of 1.33. The business’s 50-day simple moving average is $27.43 and its 200-day simple moving average is $27.48.

Riley Exploration Permian (NYSE:REPX) last released its quarterly earnings data on Wednesday, August 7th. The company reported $1.61 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $106.62 million. Sell-side analysts expect that Riley Exploration Permian will post 6.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Truist Financial cut their target price 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.

Insider Buying and Selling at Riley Exploration Permian

In other Riley Exploration Permian news, CEO Bobby Riley sold 8,981 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $26.49, for a total value of $237,906.69. Following the sale, the chief executive officer now owns 326,375 shares in the company, valued at approximately $8,645,673.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company 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.