Riley Exploration Permian, Inc. (REPX) To Go Ex-Dividend on July 29th

Riley Exploration Permian, Inc. (NYSE:REPX – Get Free Report) declared a quarterly dividend on Wednesday, July 15th. Stockholders of record on Wednesday, July 29th will be paid a dividend of 0.40 per share on Wednesday, August 12th. This represents a c) dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Wednesday, July 29th.

Riley Exploration Permian has a dividend payout ratio of 28.7% meaning its dividend is sufficiently covered by earnings. Equities 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%.

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Riley Exploration Permian Stock Up 1.3%

Shares of NYSE:REPX opened at $34.74 on Friday. The company has a 50 day moving average price of $34.77 and a two-hundred day moving average price of $32.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.64 and a current ratio of 0.70. The company has a market capitalization of $753.72 million, a PE ratio of 6.16 and a beta of 0.91. Riley Exploration Permian has a 52 week low of $24.08 and a 52 week high of $41.53.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on REPX shares. Zacks Research lowered Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Roth Capital reissued a “buy” rating on shares of Riley Exploration Permian in a research note on Thursday, April 30th. Finally, Truist Financial assumed coverage on shares of Riley Exploration Permian in a research report on Tuesday, March 24th. They set a “buy” rating and a $47.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Riley Exploration Permian has an average rating of “Buy” and an average target price of $41.50.

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Riley Exploration Permian Company Profile

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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.

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