Riley Exploration Permian, Inc. (NYSE:REPX) Declares Quarterly Dividend of $0.40

Riley Exploration Permian, Inc. (NYSE:REPX) declared a quarterly dividend on Wednesday, July 15th. Investors of record on Wednesday, July 29th will be given a dividend of 0.40 per share on Wednesday, August 12th. This represents a c) dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Wednesday, July 29th.

Riley Exploration Permian has a dividend payout ratio of 28.7% 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 $1.60 annual dividend with an expected future payout ratio of 22.7%.

Riley Exploration Permian Stock Performance

Riley Exploration Permian stock traded down $0.08 during midday trading on Wednesday, hitting $34.28. The company’s stock had a trading volume of 129,476 shares, compared to its average volume of 349,615. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.70 and a quick ratio of 0.64. The company has a market cap of $743.74 million, a price-to-earnings ratio of 6.08 and a beta of 0.91. Riley Exploration Permian has a 1-year low of $24.08 and a 1-year high of $41.53. The company has a 50-day moving average price of $34.74 and a two-hundred day moving average price of $32.43.

Analyst Ratings Changes

REPX has been the topic of several recent research reports. Zacks Research cut shares of Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Truist Financial began coverage on Riley Exploration Permian in a research note on Tuesday, March 24th. They issued a “buy” rating and a $47.00 price target for the company. Finally, Roth Capital restated a “buy” rating on shares of Riley Exploration Permian in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock 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.