Riley Exploration Permian, Inc. (NYSE:REPX – Get Free Report) announced a quarterly dividend on Wednesday, October 14th. Investors of record on Wednesday, October 28th will be given a dividend of $0.42 per share on Wednesday, November 11th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Wednesday, October 28th. This is a 5.0% increase from Riley Exploration Permian’s previous quarterly dividend of $0.40.
Riley Exploration Permian has a dividend payout ratio of 28.7% indicating that its dividend is sufficiently covered by earnings. 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 1.2%
REPX stock opened at $47.00 on Friday. The company’s 50 day moving average price is $40.84 and its 200 day moving average price is $37.16. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 8.33 and a beta of 1.05. Riley Exploration Permian has a fifty-two week low of $24.08 and a fifty-two week high of $48.01. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.64 and a current ratio of 0.70.
About Riley Exploration Permian
Riley Exploration Permian, Inc is an independent oil and natural gas exploration and production company focused on the development of assets in the Permian Basin. The company’s operations are concentrated in southeastern New Mexico and West Texas, where it acquires, develops and produces hydrocarbons from unconventional formations.
Its production portfolio includes crude oil, natural gas liquids and natural gas. Riley Exploration Permian emphasizes the development of operated acreage through horizontal drilling and completion programs, as well as the efficient management of its existing wells and infrastructure.
The company completed its initial public offering in 2021 and its common stock trades on the New York Stock Exchange under the symbol REPX.
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