Riley Exploration Permian, Inc. (NYSE:REPX) Announces Quarterly Dividend of $0.36

Riley Exploration Permian, Inc. (NYSE:REPX - Get Free Report) declared a quarterly dividend on Friday, April 12th, Wall Street Journal reports. Stockholders of record on Thursday, April 25th will be paid a dividend of 0.36 per share on Thursday, May 9th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date is Wednesday, April 24th.

Riley Exploration Permian has a payout ratio of 18.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Riley Exploration Permian to earn $7.86 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 18.3%.

Riley Exploration Permian Stock Down 0.9 %

Shares of REPX traded down $0.27 during trading hours on Friday, reaching $29.31. 223,292 shares of the stock traded hands, compared to its average volume of 125,356. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 0.80. The stock has a fifty day simple moving average of $26.82 and a 200 day simple moving average of $27.07. Riley Exploration Permian has a 52 week low of $21.27 and a 52 week high of $47.02. The company has a market cap of $597.92 million, a price-to-earnings ratio of 5.25 and a beta of 1.26.

Riley Exploration Permian (NYSE:REPX - Get Free Report) last released its quarterly earnings results on Wednesday, March 6th. The company reported $0.70 earnings per share for the quarter, missing analysts' consensus estimates of $1.61 by ($0.91). Riley Exploration Permian had a net margin of 29.75% and a return on equity of 25.08%. The firm had revenue of $99.83 million for the quarter, compared to the consensus estimate of $94.77 million. On average, equities analysts forecast that Riley Exploration Permian will post 7.14 EPS for the current year.

Insider Activity at Riley Exploration Permian

In related news, major shareholder Riley Exploration Ho Bluescape sold 700,000 shares of the firm's stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $25.52, for a total transaction of $17,864,000.00. Following the transaction, the insider now directly owns 4,521,767 shares of the company's stock, valued at $115,395,493.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Riley Exploration Permian news, major shareholder Riley Exploration Ho Bluescape sold 700,000 shares of Riley Exploration Permian stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $25.52, for a total value of $17,864,000.00. Following the sale, the insider now owns 4,521,767 shares of the company's stock, valued at $115,395,493.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Alvin Gerald Libin acquired 75,000 shares of the stock in a transaction on Thursday, April 4th. The stock was bought at an average cost of $27.00 per share, for a total transaction of $2,025,000.00. Following the transaction, the insider now owns 2,194,921 shares of the company's stock, valued at approximately $59,262,867. The disclosure for this purchase can be found here. Insiders have sold 748,248 shares of company stock valued at $19,024,570 over the last ninety days. Corporate insiders own 3.30% of the company's stock.

Institutional Trading of Riley Exploration Permian

Hedge funds and other institutional investors have recently modified their holdings of the business. Advisor Group Holdings Inc. bought a new stake in shares of Riley Exploration Permian in the fourth quarter valued at approximately $26,000. Tower Research Capital LLC TRC raised its position in shares of Riley Exploration Permian by 109.4% in the first quarter. Tower Research Capital LLC TRC now owns 710 shares of the company's stock valued at $27,000 after purchasing an additional 371 shares during the period. FMR LLC raised its position in shares of Riley Exploration Permian by 68.7% in the second quarter. FMR LLC now owns 1,331 shares of the company's stock valued at $32,000 after purchasing an additional 542 shares during the period. Lazard Asset Management LLC purchased a new position in Riley Exploration Permian during the first quarter valued at approximately $48,000. Finally, PNC Financial Services Group Inc. purchased a new position in Riley Exploration Permian during the second quarter valued at approximately $64,000. Institutional investors own 58.91% 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.