Insider Selling: Riley Exploration Permian (NYSE:REPX) Insider Sells 3,500 Shares of Stock

Riley Exploration Permian, Inc. (NYSE:REPX) insider Corey Neil Riley sold 3,500 shares of Riley Exploration Permian stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $27.41, for a total transaction of $95,935.00. Following the completion of the sale, the insider owned 158,565 shares in the company, valued at approximately $4,346,266.65. This trade represents a 2.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Riley Exploration Permian Trading Up 3.8%

NYSE REPX traded up $1.01 during trading on Friday, hitting $27.76. The company had a trading volume of 148,232 shares, compared to its average volume of 248,098. The company’s fifty day moving average is $26.98 and its 200-day moving average is $27.04. Riley Exploration Permian, Inc. has a one year low of $21.98 and a one year high of $36.18. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.53. The company has a market cap of $609.86 million, a price-to-earnings ratio of 4.92 and a beta of 1.22.

Riley Exploration Permian declared that its board has authorized a share repurchase program on Tuesday, December 16th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to buy up to 18% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

Riley Exploration Permian Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Thursday, January 22nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Thursday, January 22nd. Riley Exploration Permian’s payout ratio is presently 39.12%.

Institutional Investors Weigh In On Riley Exploration Permian

Several hedge funds have recently added to or reduced their stakes in REPX. Quarry LP purchased a new stake in Riley Exploration Permian in the third quarter worth approximately $46,000. Advisory Services Network LLC purchased a new position in shares of Riley Exploration Permian in the 3rd quarter worth $65,000. Parkwood LLC bought a new stake in shares of Riley Exploration Permian in the third quarter worth $68,000. State of Alaska Department of Revenue increased its position in Riley Exploration Permian by 346.3% during the fourth quarter. State of Alaska Department of Revenue now owns 3,579 shares of the company’s stock valued at $94,000 after acquiring an additional 2,777 shares during the last quarter. Finally, Osaic Holdings Inc. increased its position in Riley Exploration Permian by 442.4% during the second quarter. Osaic Holdings Inc. now owns 4,231 shares of the company’s stock valued at $111,000 after acquiring an additional 3,451 shares during the last quarter. 58.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on REPX shares. Zacks Research upgraded Riley Exploration Permian from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 15th. William Blair started coverage on Riley Exploration Permian in a research report on Friday, November 21st. They set an “outperform” rating for the company. Two research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat, Riley Exploration Permian presently has a consensus rating of “Strong Buy” and a consensus target price of $36.00.

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.