Riley Exploration Permian, Inc. (NYSE:REPX) Plans Dividend Increase – $0.40 Per Share

Riley Exploration Permian, Inc. (NYSE:REPX) declared a quarterly dividend on Tuesday, October 7th, RTT News reports. Investors of record on Tuesday, October 21st will be given a dividend of 0.40 per share on Thursday, November 6th. This represents a c) annualized dividend and a yield of 5.7%. This is a 5.3% increase from Riley Exploration Permian’s previous quarterly dividend of $0.38.

Riley Exploration Permian has a payout ratio of 27.3% 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 $1.52 annual dividend with an expected future payout ratio of 21.5%.

Riley Exploration Permian Trading Up 2.3%

NYSE REPX opened at $27.90 on Tuesday. The stock has a market capitalization of $614.86 million, a P/E ratio of 4.95 and a beta of 1.18. Riley Exploration Permian has a 52-week low of $21.98 and a 52-week high of $37.55. The firm has a 50-day moving average price of $27.48 and a 200 day moving average price of $26.97. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.53.

Riley Exploration Permian Company Profile

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.