Riley Exploration Permian (REPX) Declares $0.34 Dividend

Riley Exploration Permian said on April 11, 2023 that its board of directors declared a regular quarterly dividend of $0.34 per share ($1.36 annualized). Previously, the company paid $0.34 per share.

Shares must be purchased before the ex-div date of April 24, 2023 to qualify for the dividend. Shareholders of record as of April 25, 2023 will receive the payment on May 9, 2023.

At the current share price of $45.61 / share, the stock's dividend yield is 2.98%. Looking back five years and taking a sample every week, the average dividend yield has been 10.55%, the lowest has been 2.20%, and the highest has been 25.76%. The standard deviation of yields is 6.13 (n=236).

The current dividend yield is 1.24 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.23. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

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What is the Fund Sentiment?

There are 185 funds or institutions reporting positions in Riley Exploration Permian. This is an increase of 14 owner(s) or 8.19% in the last quarter. Average portfolio weight of all funds dedicated to REPX is 0.33%, a decrease of 17.00%. Total shares owned by institutions increased in the last three months by 1.31% to 10,712K shares. The put/call ratio of REPX is 0.23, indicating a bullish outlook.

Analyst Price Forecast Suggests 10.70% Upside

As of April 6, 2023, the average one-year price target for Riley Exploration Permian is $50.49. The forecasts range from a low of $43.43 to a high of $58.80. The average price target represents an increase of 10.70% from its latest reported closing price of $45.61.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Riley Exploration Permian is $295MM, a decrease of 8.22%. The projected annual non-GAAP EPS is $6.83.

What are Other Shareholders Doing?

FCFMX - Fidelity Series Total Market Index Fund holds 5K shares representing 0.02% ownership of the company. No change in the last quarter.

Aventail Capital Group holds 22K shares representing 0.11% ownership of the company. In it's prior filing, the firm reported owning 30K shares, representing a decrease of 38.14%. The firm increased its portfolio allocation in REPX by 76.43% over the last quarter.

Brighthouse Funds Trust II - MetLife Russell 2000 Index Portfolio holds 5K shares representing 0.02% ownership of the company. No change in the last quarter.

TSGUX - Small-Mid Cap Equity Fund holds 0K shares representing 0.00% ownership of the company. No change in the last quarter.

RYRUX - Russell 2000 2x Strategy Fund A-Class Shares holds 0K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 2.13%. The firm increased its portfolio allocation in REPX by 89.99% over the last quarter.

Riley Exploration Permian Background Information
(This description is provided by the company.)

Riley Exploration Permian, Inc. is an independent oil and natural gas company focused on steadily growing its reserves, production and cash flow through the acquisition, exploration, development and production of oil, natural gas, and natural gas liquids, or NGLs, in the Permian Basin.

This story originally appeared on Fintel.