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

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

Riley Exploration Permian Stock Performance

Riley Exploration Permian stock opened at $35.91 on Thursday. The firm has a market capitalization of $795.55 million, a P/E ratio of 6.37 and a beta of 0.93. The stock has a fifty day moving average price of $34.09 and a 200 day moving average price of $33.62. Riley Exploration Permian, Inc. has a 52 week low of $24.08 and a 52 week high of $41.53. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.53.

Riley Exploration Permian Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.5%. Riley Exploration Permian’s dividend payout ratio is currently 28.99%.

Institutional Investors Weigh In On Riley Exploration Permian

A number of institutional investors have recently added to or reduced their stakes in REPX. Dynamic Technology Lab Private Ltd purchased a new position in shares of Riley Exploration Permian in the 1st quarter worth about $249,000. Empowered Funds LLC grew its holdings in shares of Riley Exploration Permian by 1.8% during the 1st quarter. Empowered Funds LLC now owns 31,549 shares of the company’s stock worth $920,000 after purchasing an additional 562 shares during the period. Jane Street Group LLC purchased a new stake in shares of Riley Exploration Permian during the 1st quarter worth about $431,000. JPMorgan Chase & Co. increased its position in Riley Exploration Permian by 27.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,438 shares of the company’s stock worth $195,000 after purchasing an additional 1,586 shares in the last quarter. Finally, Rhumbline Advisers increased its position in Riley Exploration Permian by 17.2% during the 2nd quarter. Rhumbline Advisers now owns 19,052 shares of the company’s stock worth $500,000 after purchasing an additional 2,802 shares in the last quarter. Hedge funds and other institutional investors own 58.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on REPX shares. Truist Financial decreased their target price on shares of Riley Exploration Permian from $47.00 to $41.00 and set a “buy” rating on the stock in a research report on Wednesday. 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. Finally, Roth Capital reaffirmed a “buy” rating and set a $45.00 price target on shares of Riley Exploration Permian in a research note on Thursday, July 23rd. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Riley Exploration Permian has an average rating of “Moderate Buy” and an average price target of $43.00.

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.