Riley Exploration Permian, Inc. (NYSE:REPX) to Issue Quarterly Dividend of $0.38

Riley Exploration Permian, Inc. (NYSE:REPX - Get Free Report) announced a quarterly dividend on Wednesday, July 9th, RTT News reports. Investors of record on Thursday, July 24th will be paid a dividend of 0.38 per share on Thursday, August 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date is Thursday, July 24th.

Riley Exploration Permian has a dividend payout ratio of 27.3% meaning its dividend is sufficiently covered by earnings. Equities 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 0.2%

Shares of REPX stock traded up $0.06 on Friday, reaching $27.77. 60,820 shares of the company's stock were exchanged, compared to its average volume of 100,369. Riley Exploration Permian has a 52 week low of $21.98 and a 52 week high of $37.55. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $611.58 million, a PE ratio of 4.92 and a beta of 1.52. The company's fifty day simple moving average is $26.99 and its 200 day simple moving average is $29.20.

Insiders Place Their Bets

In other Riley Exploration Permian news, CEO Bobby Riley sold 5,500 shares of Riley Exploration Permian stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $28.65, for a total transaction of $157,575.00. Following the completion of the sale, the chief executive officer directly owned 414,636 shares of the company's stock, valued at $11,879,321.40. The trade was a 1.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders sold 25,000 shares of company stock worth $702,600. Insiders own 4.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC increased its holdings in shares of Riley Exploration Permian by 1.8% in the 1st quarter. Empowered Funds LLC now owns 31,549 shares of the company's stock valued at $920,000 after acquiring an additional 562 shares during the period. Jane Street Group LLC purchased a new position in shares of Riley Exploration Permian in the 1st quarter valued at $431,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Riley Exploration Permian in the 1st quarter valued at $249,000. 58.91% of the stock is currently owned by hedge funds and other institutional investors.

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.