Riley Exploration Permian, Inc. (NYSE:REPX) Raises Dividend to $0.40 Per Share

Key Points

• Riley Exploration Permian, Inc. has increased its quarterly dividend to $0.40 per share, reflecting a 5.3% rise from the previous dividend of $0.38.
• Investors of record on October 21st will receive the dividend payment on November 6th, resulting in an annualized yield of 5.7%.
• The company maintains a payout ratio of 27.3%, indicating that its dividend is well-covered by earnings, with projected earnings of $7.06 per share next year.

Riley Exploration Permian, Inc. (NYSE:REPX - Get Free Report) declared a quarterly dividend on Tuesday, October 7th, RTT News reports. Investors of record on Tuesday, October 21st will be paid a dividend of 0.40 per share on Thursday, November 6th. This represents a c) dividend on an annualized basis and a dividend 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% meaning 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 $1.52 annual dividend with an expected future payout ratio of 21.5%.

Riley Exploration Permian Trading Up 2.3%

REPX opened at $27.90 on Tuesday. 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 has a 52 week low of $21.98 and a 52 week high of $37.55. The stock has a market cap of $614.86 million, a PE ratio of 4.95 and a beta of 1.18. The business has a 50 day moving average of $27.48 and a 200-day moving average of $26.97.

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.

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