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

Riley Exploration Permian, Inc. (NYSE:REPX - Get Free Report) declared a quarterly dividend on Wednesday, July 9th, RTT News reports. Shareholders of record on Thursday, July 24th will be given 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 5.54%.

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 Stock Down 2.4%

Shares of REPX traded down $0.68 during trading hours on Wednesday, reaching $27.42. The stock had a trading volume of 106,294 shares, compared to its average volume of 101,242. Riley Exploration Permian has a 12 month low of $21.98 and a 12 month high of $37.55. The company has a market capitalization of $603.87 million, a price-to-earnings ratio of 4.86 and a beta of 1.52. The firm has a 50-day simple moving average of $26.85 and a 200 day simple moving average of $29.25. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.53.

Insider Buying and Selling at Riley Exploration Permian

In other Riley Exploration Permian news, CEO Bobby Riley sold 5,500 shares of Riley Exploration Permian stock in a transaction dated 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 transaction, the chief executive officer owned 414,636 shares in the company, valued at approximately $11,879,321.40. The trade was a 1.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 25,000 shares of company stock valued at $702,600. Corporate insiders own 4.70% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of REPX. Jane Street Group LLC bought a new stake in shares of Riley Exploration Permian during the 1st quarter worth $431,000. Empowered Funds LLC raised its position in Riley Exploration Permian by 1.8% in the first quarter. Empowered Funds LLC now owns 31,549 shares of the company's stock worth $920,000 after acquiring an additional 562 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Riley Exploration Permian in the first quarter valued at about $249,000. Hedge funds and other institutional investors own 58.91% of the company's stock.

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.