Riley Exploration Permian, Inc. Plans Quarterly Dividend of $0.40 (NYSE:REPX)

Key Points

• Riley Exploration Permian declared a quarterly dividend of $0.40 per share, payable May 13 to shareholders of record April 29, implying a $1.60 annual dividend and a ~4.6% yield.
• The dividend appears well covered, with a current payout ratio of 28.7% and analysts forecasting $7.06 EPS next year (an expected payout ratio of ~22.7%).
• Analyst sentiment is bullish (consensus "Strong Buy" with a $41.50 price target); the stock trades around $34.51 with a PE of 6.12 and a 52-week range of $24.07–$41.26.

Riley Exploration Permian, Inc. (NYSE:REPX - Get Free Report) announced a quarterly dividend on Tuesday, April 14th. Shareholders of record on Wednesday, April 29th will be paid a dividend of 0.40 per share on Wednesday, May 13th. This represents a c) dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Wednesday, April 29th.

Riley Exploration Permian has a dividend payout ratio of 28.7% meaning its dividend is sufficiently covered by earnings. 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 $1.60 annual dividend with an expected future payout ratio of 22.7%.

Riley Exploration Permian Stock Performance

NYSE REPX opened at $34.51 on Thursday. The firm's fifty day moving average price is $32.64 and its two-hundred day moving average price is $28.81. The stock has a market cap of $744.28 million, a PE ratio of 6.12 and a beta of 1.10. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.64 and a current ratio of 0.70. Riley Exploration Permian has a fifty-two week low of $24.07 and a fifty-two week high of $41.26.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. William Blair reaffirmed an "outperform" rating on shares of Riley Exploration Permian in a report on Thursday, March 5th. Zacks Research raised Riley Exploration Permian from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 8th. Finally, Truist Financial initiated coverage on Riley Exploration Permian in a report on Tuesday, March 24th. They set a "buy" rating and a $47.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Strong Buy" and a consensus price target of $41.50.

Riley Exploration Permian Company Profile

Riley Exploration Permian, Inc NYSE: REPX is a special purpose acquisition company formed to identify, acquire and operate assets in the oil and natural gas sector, with a dedicated focus on the Permian Basin. Incorporated in Delaware, the company completed its initial public offering on the New York Stock Exchange and is positioned to pursue a business combination with one or more upstream or midstream energy businesses. Riley Exploration Permian’s strategy centers on leveraging the region’s prolific reservoirs and existing infrastructure to drive growth and value for its shareholders.

The company seeks to target exploration and production assets in both the Midland and Delaware sub-basins of West Texas and southeastern New Mexico, where extensive pipeline networks and favorable geologic characteristics support efficient development.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.