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

Riley Exploration Permian, Inc. (NYSE:REPX) announced a quarterly dividend on Friday, January 9th. Investors of record on Thursday, January 22nd will be given a dividend of 0.40 per share on Thursday, February 5th. This represents a c) annualized dividend and a yield of 6.1%. The ex-dividend date is Thursday, January 22nd.

Riley Exploration Permian has a dividend payout ratio of 28.7% indicating that 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 Price Performance

REPX stock opened at $26.35 on Friday. The company’s 50-day moving average price is $26.29 and its two-hundred day moving average price is $26.89. The firm has a market cap of $578.88 million, a P/E ratio of 4.67 and a beta of 1.03. 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 12 month low of $21.98 and a 12 month high of $37.55.

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.