Riley Exploration Permian, Inc. (NYSE:REPX – Get Free Report) declared a quarterly dividend on Wednesday, October 14th. Stockholders of record on Wednesday, October 28th will be paid a dividend of $0.42 per share on Wednesday, November 11th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Wednesday, October 28th. This is a 5.0% increase from Riley Exploration Permian’s previous quarterly dividend of $0.40.
Riley Exploration Permian has a dividend payout ratio of 30.2% 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 $1.68 annual dividend with an expected future payout ratio of 23.8%.
Riley Exploration Permian Stock Performance
NYSE:REPX opened at $54.18 on Monday. Riley Exploration Permian has a 52 week low of $24.08 and a 52 week high of $54.57. The firm has a 50 day moving average of $42.56 and a 200 day moving average of $37.74. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 9.61 and a beta of 1.05.
About Riley Exploration Permian
Riley Exploration Permian, Inc is an independent oil and natural gas exploration and production company focused on developing hydrocarbon properties in the Permian Basin. Its activities include acquiring acreage, drilling and completing wells, and producing crude oil, natural gas and natural gas liquids.
The company’s operations are concentrated in the U.S. Permian Basin, with a particular focus on properties in southeastern New Mexico. Riley Exploration Permian primarily uses horizontal drilling and related completion techniques to develop its operated acreage and extract resources from unconventional formations.
Riley Exploration Permian became a publicly traded company in 2021.
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