Riley Exploration Permian said on July 10, 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.
Shareholders of record as of July 20, 2023 will receive the payment on August 3, 2023.
At the current share price of $36.44 / share, the stock's dividend yield is 3.73%.
Looking back five years and taking a sample every week, the average dividend yield has been 9.96%, the lowest has been 2.20%, and the highest has been 25.76%. The standard deviation of yields is 6.21 (n=235).
The current dividend yield is 1.00 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.17. 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's 3-Year dividend growth rate is 0.02%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 192 funds or institutions reporting positions in Riley Exploration Permian. This is an increase of 6 owner(s) or 3.23% in the last quarter. Average portfolio weight of all funds dedicated to REPX is 0.60%, an increase of 7.80%. Total shares owned by institutions decreased in the last three months by 0.44% to 10,672K shares. 
The put/call ratio of REPX is 0.88, indicating a bullish outlook.
Analyst Price Forecast Suggests 62.35% Upside
As of July 6, 2023, the average one-year price target for Riley Exploration Permian is 59.16. The forecasts range from a low of 56.56 to a high of $63.00. The average price target represents an increase of 62.35% from its latest reported closing price of 36.44.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Riley Exploration Permian is 295MM, a decrease of 7.98%. The projected annual non-GAAP EPS is 6.83.
What are Other Shareholders Doing?
Bluescape Energy Partners holds 5,222K shares representing 25.87% ownership of the company. No change in the last quarter.
Yorktown Energy Partners XI holds 1,784K shares representing 8.84% ownership of the company. No change in the last quarter.
Jackson Hole Capital Partners holds 409K shares representing 2.03% ownership of the company. In it's prior filing, the firm reported owning 394K shares, representing an increase of 3.71%. The firm increased its portfolio allocation in REPX by 162.54% over the last quarter.
Yorktown Energy Partners X holds 391K shares representing 1.94% ownership of the company. No change in the last quarter.
IWM - iShares Russell 2000 ETF holds 231K shares representing 1.15% ownership of the company. In it's prior filing, the firm reported owning 241K shares, representing a decrease of 4.00%. The firm increased its portfolio allocation in REPX by 29.91% 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.
Additional reading:
- REPX / Riley Exploration Permian Inc. / Texel Resources Inc. - JOINT FILING AGREEMENT, DATED AS OF JULY 13, 2023, BY AND AMONG THE REPORTING PERSONS JOINT FILING AGREEMENT
- TABLE OF CONTENTS
- Table of Contents
- Riley Exploration Permian, Inc. UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL STATEMENTS
- Full-Year 2023 (1)
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
