Riley Exploration Permian, Inc. (NYSE:REPX) Plans 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 annualized dividend and a dividend yield of 5.47%. The ex-dividend date is Thursday, July 24th.

Riley Exploration Permian has a payout ratio of 27.3% indicating that 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 Price Performance

Shares of NYSE REPX traded up $0.06 during midday trading on Friday, hitting $27.77. The company had a trading volume of 60,820 shares, compared to its average volume of 100,369. 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 twelve month low of $21.98 and a twelve month high of $37.55. The business has a 50-day simple moving average of $26.99 and a two-hundred day simple moving average of $29.20. The firm has a market capitalization of $611.58 million, a price-to-earnings ratio of 4.92 and a beta of 1.52.

Insider Activity at Riley Exploration Permian

In related news, CEO Bobby Riley sold 5,500 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $28.65, for a total value of $157,575.00. Following the completion of the sale, the chief executive officer owned 414,636 shares in the company, valued at $11,879,321.40. This trade represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 25,000 shares of company stock valued at $702,600 in the last ninety days. 4.70% of the stock is owned by company insiders.

Institutional Trading of Riley Exploration Permian

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd purchased a new position in Riley Exploration Permian during the 1st quarter valued at about $249,000. Jane Street Group LLC purchased a new position in Riley Exploration Permian during the 1st quarter valued at about $431,000. Finally, Empowered Funds LLC increased its holdings in Riley Exploration Permian by 1.8% during 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 in the last quarter. Institutional investors and hedge funds 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.