Riley Exploration Permian, Inc. (REPX) To Go Ex-Dividend on January 22nd

Riley Exploration Permian, Inc. (NYSE:REPX) declared a quarterly dividend on Friday, January 9th. Shareholders of record on Thursday, January 22nd will be given a dividend of 0.40 per share on Thursday, February 5th. This represents a c) dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend is Thursday, January 22nd.

Riley Exploration Permian has a payout ratio of 28.7% indicating that its dividend is sufficiently covered by earnings. Equities research 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 $1.60 annual dividend with an expected future payout ratio of 22.7%.

Riley Exploration Permian Stock Up 2.2%

Shares of REPX opened at $26.35 on Friday. Riley Exploration Permian has a 52-week low of $21.98 and a 52-week high of $37.55. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $26.29 and a two-hundred day simple moving average of $26.89. The company has a market capitalization of $578.88 million, a PE ratio of 4.67 and a beta of 1.03.

Wall Street Analysts Forecast Growth

REPX has been the topic of a number of analyst reports. William Blair assumed coverage on shares of Riley Exploration Permian in a research note on Friday, November 21st. They set an “outperform” rating on the stock. Roth Capital started coverage on shares of Riley Exploration Permian in a research report on Monday, October 13th. They set a “buy” rating and a $36.00 price target on the stock. Finally, Zacks Research upgraded Riley Exploration Permian from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Riley Exploration Permian has an average rating of “Buy” and an average target price of $41.50.

Riley Exploration Permian Company Profile

Riley Exploration Permian, Inc (NYSE:REPX) is a special purpose acquisition company formed to identify, acquire and operate assets in the oil and natural gas sector, with a dedicated focus on the Permian Basin. Incorporated in Delaware, the company completed its initial public offering on the New York Stock Exchange and is positioned to pursue a business combination with one or more upstream or midstream energy businesses. Riley Exploration Permian’s strategy centers on leveraging the region’s prolific reservoirs and existing infrastructure to drive growth and value for its shareholders.

The company seeks to target exploration and production assets in both the Midland and Delaware sub-basins of West Texas and southeastern New Mexico, where extensive pipeline networks and favorable geologic characteristics support efficient development.