Riley Exploration Permian (NYSE:REPX) CFO Sells 4,000 Shares of Stock

Riley Exploration Permian, Inc. (NYSE:REPX) CFO Philip Riley sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $37.61, for a total transaction of $150,440.00. Following the completion of the transaction, the chief financial officer directly owned 235,503 shares of the company’s stock, valued at $8,857,267.83. This trade represents a 1.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Riley Exploration Permian Stock Up 0.1%

NYSE REPX traded up $0.06 during midday trading on Wednesday, hitting $37.77. 22,151 shares of the company traded hands, compared to its average volume of 322,440. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.70 and a quick ratio of 0.64. The company has a market cap of $836.65 million, a PE ratio of 6.69 and a beta of 0.93. The company’s 50-day simple moving average is $34.19 and its 200-day simple moving average is $33.88. Riley Exploration Permian, Inc. has a 52 week low of $24.08 and a 52 week high of $41.53.

Riley Exploration Permian Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $1.60 dividend on an annualized basis and a yield of 4.2%. Riley Exploration Permian’s dividend payout ratio (DPR) is presently 28.99%.

Analyst Upgrades and Downgrades

REPX has been the subject of a number of recent research reports. Roth Capital reiterated a “buy” rating and issued a $45.00 target price on shares of Riley Exploration Permian in a report on Thursday, July 23rd. Zacks Research cut shares of Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Finally, Truist Financial cut their price objective on shares of Riley Exploration Permian from $47.00 to $41.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Institutional Investors Weigh In On Riley Exploration Permian

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. McAlvany Wealth Management LLC purchased a new stake in Riley Exploration Permian during the 4th quarter valued at about $943,000. Renaissance Technologies LLC lifted its holdings in shares of Riley Exploration Permian by 134.5% in the 1st quarter. Renaissance Technologies LLC now owns 142,100 shares of the company’s stock valued at $5,180,000 after buying an additional 81,500 shares during the period. Lazard Asset Management LLC grew its stake in shares of Riley Exploration Permian by 567.8% during the 1st quarter. Lazard Asset Management LLC now owns 79,098 shares of the company’s stock worth $2,883,000 after purchasing an additional 67,254 shares during the period. Dimensional Fund Advisors LP increased its holdings in Riley Exploration Permian by 15.1% in the first quarter. Dimensional Fund Advisors LP now owns 616,564 shares of the company’s stock valued at $22,474,000 after buying an additional 80,770 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Riley Exploration Permian by 53.0% in the 1st quarter. First Trust Advisors LP now owns 193,512 shares of the company’s stock worth $7,054,000 after purchasing an additional 67,005 shares during the period. 58.91% of the stock is currently owned by hedge funds and other institutional investors.

About Riley Exploration Permian

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.