Corey Neil Riley Sells 3,500 Shares of Riley Exploration Permian (NYSE:REPX) Stock

Riley Exploration Permian, Inc. (NYSE:REPX) insider Corey Neil Riley sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $24.87, for a total value of $87,045.00. Following the completion of the sale, the insider directly owned 162,065 shares of the company’s stock, valued at approximately $4,030,556.55. The trade was a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Riley Exploration Permian Stock Up 6.1%

REPX stock opened at $26.36 on Wednesday. Riley Exploration Permian, Inc. has a 1-year low of $21.98 and a 1-year high of $37.55. The business’s 50 day simple moving average is $27.06 and its 200 day simple moving average is $27.00. 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 firm has a market capitalization of $579.10 million, a PE ratio of 4.67 and a beta of 1.20.

Riley Exploration Permian Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 6th. Stockholders of record on Tuesday, October 21st were paid a dividend of $0.40 per share. The ex-dividend date was Tuesday, October 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.1%. This is a boost from Riley Exploration Permian’s previous quarterly dividend of $0.38. Riley Exploration Permian’s dividend payout ratio is 39.12%.

Hedge Funds Weigh In On Riley Exploration Permian

A number of hedge funds have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale boosted its holdings in Riley Exploration Permian by 68.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,150 shares of the company’s stock valued at $61,000 after purchasing an additional 874 shares during the period. State of Wyoming acquired a new stake in shares of Riley Exploration Permian in the first quarter valued at approximately $102,000. Osaic Holdings Inc. boosted its stake in shares of Riley Exploration Permian by 442.4% in the second quarter. Osaic Holdings Inc. now owns 4,231 shares of the company’s stock valued at $111,000 after buying an additional 3,451 shares during the period. CWM LLC boosted its stake in shares of Riley Exploration Permian by 13.0% in the first quarter. CWM LLC now owns 4,221 shares of the company’s stock valued at $123,000 after buying an additional 486 shares during the period. Finally, Quantbot Technologies LP grew its position in Riley Exploration Permian by 41.7% during the first quarter. Quantbot Technologies LP now owns 4,890 shares of the company’s stock worth $143,000 after buying an additional 1,439 shares in the last quarter. 58.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on REPX. Roth Capital started coverage on shares of Riley Exploration Permian in a research note on Monday, October 13th. They issued a “buy” rating and a $36.00 price target on the stock. Zacks Research raised Riley Exploration Permian to a “strong sell” rating in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Riley Exploration Permian presently has an average rating of “Moderate Buy” and a consensus price target of $41.50.

About Riley Exploration Permian

Riley Exploration Permian, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in Texas and New Mexico. The company's activities are primarily focused on the Northwest Shelf and Yeso trend of the Permian Basin.