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

Riley Exploration Permian, Inc. (NYSE:REPX) CEO Bobby Riley sold 12,500 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $35.85, for a total value of $448,125.00. Following the completion of the sale, the chief executive officer owned 482,983 shares of the company’s stock, valued at $17,314,940.55. The trade was a 2.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Riley Exploration Permian Stock Down 0.9%

Riley Exploration Permian stock traded down $0.32 during mid-day trading on Wednesday, hitting $36.20. The company’s stock had a trading volume of 57,390 shares, compared to its average volume of 327,984. The firm’s 50 day moving average is $34.08 and its 200 day moving average is $33.56. The company has a market cap of $801.97 million, a PE ratio of 6.42 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. Riley Exploration Permian, Inc. has a 52-week low of $24.08 and a 52-week high of $41.53.

Riley Exploration Permian Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Wednesday, July 29th. Riley Exploration Permian’s dividend payout ratio is 28.99%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on REPX. Roth Capital reiterated a “buy” rating and issued a $45.00 price objective on shares of Riley Exploration Permian in a research note on Thursday, July 23rd. Zacks Research lowered shares of Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $46.00.

Institutional Investors Weigh In On Riley Exploration Permian

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Riley Exploration Permian in the 2nd quarter valued at approximately $40,302,000. Dimensional Fund Advisors LP raised its position 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 acquiring an additional 80,770 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Riley Exploration Permian by 572.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 608,833 shares of the company’s stock valued at $22,192,000 after acquiring an additional 518,340 shares in the last quarter. Geode Capital Management LLC lifted its stake in Riley Exploration Permian by 9.8% in the fourth quarter. Geode Capital Management LLC now owns 303,060 shares of the company’s stock valued at $8,003,000 after acquiring an additional 27,168 shares during the last quarter. Finally, Kennedy Capital Management LLC lifted its stake in Riley Exploration Permian by 15.0% in the third quarter. Kennedy Capital Management LLC now owns 248,663 shares of the company’s stock valued at $6,741,000 after acquiring an additional 32,522 shares during the last quarter. 58.91% of the stock is 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.