Riley Exploration Permian (NYSE:REPX) CEO Sells $448,125.00 in Stock

Riley Exploration Permian, Inc. (NYSE:REPXGet Free Report) CEO Bobby Riley sold 12,500 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $35.85, for a total transaction 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. This represents a 2.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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. 57,390 shares of the company’s stock were exchanged, compared to its average volume of 327,984. Riley Exploration Permian, Inc. has a 1-year low of $24.08 and a 1-year high of $41.53. The stock has a 50 day moving average of $34.08 and a two-hundred day moving average of $33.56. 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 stock has a market cap of $801.97 million, a P/E ratio of 6.42 and a beta of 0.93.

Riley Exploration Permian Announces Dividend

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

Institutional Investors Weigh In On Riley Exploration Permian

Several hedge funds and other institutional investors have recently made changes to their positions in REPX. McAlvany Wealth Management LLC bought a new stake in Riley Exploration Permian during the 4th quarter valued at approximately $943,000. Renaissance Technologies LLC increased its position in Riley Exploration Permian by 134.5% in the 1st quarter. Renaissance Technologies LLC now owns 142,100 shares of the company’s stock worth $5,180,000 after buying an additional 81,500 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Riley Exploration Permian by 15.1% during the first quarter. Dimensional Fund Advisors LP now owns 616,564 shares of the company’s stock worth $22,474,000 after buying an additional 80,770 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Riley Exploration Permian by 53.0% during the first quarter. First Trust Advisors LP now owns 193,512 shares of the company’s stock worth $7,054,000 after buying an additional 67,005 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Riley Exploration Permian by 567.8% in the first quarter. Lazard Asset Management LLC now owns 79,098 shares of the company’s stock valued at $2,883,000 after acquiring an additional 67,254 shares during the period. 58.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

REPX has been the subject of a number of recent analyst reports. Roth Capital reaffirmed a “buy” rating and set a $45.00 target price on shares of Riley Exploration Permian in a research report on Thursday, July 23rd. Zacks Research lowered shares of Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. One 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. According to MarketBeat.com, Riley Exploration Permian has an average rating of “Buy” and an average price target of $46.00.

View Our Latest Research Report on REPX

Riley Exploration Permian Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Riley Exploration Permian (NYSE:REPX)

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