Insider Selling: Riley Exploration Permian (NYSE:REPX) CEO Sells $430,625.00 in Stock

Riley Exploration Permian, Inc. (NYSE:REPX) CEO Bobby Riley sold 12,500 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $34.45, for a total value of $430,625.00. Following the sale, the chief executive officer owned 313,020 shares of the company’s stock, valued at $10,783,539. This represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Riley Exploration Permian Stock Performance

Shares of NYSE:REPX opened at $36.38 on Friday. The firm has a market capitalization of $789.30 million, a PE ratio of 6.45 and a beta of 0.93. 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 business has a 50-day moving average of $35.38 and a two-hundred day moving average of $29.90. Riley Exploration Permian, Inc. has a 12 month low of $24.08 and a 12 month high of $41.26.

Riley Exploration Permian Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Wednesday, April 29th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, April 29th. This represents a $1.60 annualized dividend and a yield of 4.4%. Riley Exploration Permian’s dividend payout ratio is currently 56.14%.

Institutional Investors Weigh In On Riley Exploration Permian

Several hedge funds have recently modified their holdings of REPX. Aster Capital Management DIFC Ltd acquired a new stake in Riley Exploration Permian during the 4th quarter valued at approximately $27,000. Royal Bank of Canada grew its stake in Riley Exploration Permian by 210.9% during the 4th quarter. Royal Bank of Canada now owns 1,138 shares of the company’s stock valued at $31,000 after purchasing an additional 772 shares in the last quarter. Quarry LP acquired a new stake in Riley Exploration Permian during the 3rd quarter valued at approximately $46,000. Advisory Services Network LLC acquired a new stake in Riley Exploration Permian during the 3rd quarter valued at approximately $65,000. Finally, Parkwood LLC acquired a new stake in Riley Exploration Permian during the 3rd quarter valued at approximately $68,000. 58.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

REPX has been the subject of several research analyst reports. Zacks Research upgraded Riley Exploration Permian from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 8th. William Blair reiterated an “outperform” rating on shares of Riley Exploration Permian in a report on Thursday, March 5th. Truist Financial initiated coverage on Riley Exploration Permian in a report on Tuesday, March 24th. They set a “buy” rating and a $47.00 target price on the stock. Finally, Roth Mkm reiterated a “buy” rating on shares of Riley Exploration Permian in a report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Strong Buy” and a consensus target price 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.