Bobby Riley Sells 12,500 Shares of Riley Exploration Permian (NYSE:REPX) Stock

Riley Exploration Permian, Inc. (NYSE:REPX) CEO Bobby Riley sold 12,500 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $34.45, for a total transaction of $430,625.00. Following the completion of the transaction, the chief executive officer directly owned 313,020 shares of the company’s stock, valued at approximately $10,783,539. The trade was a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Riley Exploration Permian Price Performance

REPX traded up $1.59 on Tuesday, reaching $36.35. The company had a trading volume of 482,750 shares, compared to its average volume of 373,165. Riley Exploration Permian, Inc. has a 52-week low of $24.08 and a 52-week high of $41.26. The company has a market cap of $788.65 million, a price-to-earnings ratio of 6.45 and a beta of 0.93. 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 business has a 50 day simple moving average of $34.95 and a 200 day simple moving average of $29.70.

Riley Exploration Permian Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 13th. Investors of record on Wednesday, April 29th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Wednesday, April 29th. Riley Exploration Permian’s payout ratio is presently 56.14%.

Hedge Funds Weigh In On Riley Exploration Permian

Institutional investors have recently made changes to their positions in the business. TrueMark Investments LLC bought a new position in Riley Exploration Permian in the 3rd quarter worth $3,027,000. Cannell & Spears LLC bought a new stake in Riley Exploration Permian during the third quarter valued at about $2,224,000. Dimensional Fund Advisors LP grew its holdings in Riley Exploration Permian by 15.1% during the first quarter. Dimensional Fund Advisors LP now owns 616,564 shares of the company’s stock valued at $22,474,000 after purchasing an additional 80,770 shares during the period. First Trust Advisors LP increased its position in Riley Exploration Permian by 172.6% in the fourth quarter. First Trust Advisors LP now owns 126,507 shares of the company’s stock worth $3,340,000 after buying an additional 80,099 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Riley Exploration Permian in the second quarter worth about $2,033,000. Institutional investors own 58.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on REPX. Roth Mkm restated a “buy” rating on shares of Riley Exploration Permian in a research note on Thursday, April 30th. William Blair restated an “outperform” rating on shares of Riley Exploration Permian in a research note on Thursday, March 5th. Zacks Research upgraded Riley Exploration Permian from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 8th. Finally, Truist Financial initiated coverage on Riley Exploration Permian in a report on Tuesday, March 24th. They issued a “buy” rating and a $47.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Strong Buy” and a consensus price target of $41.50.

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.