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 company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $35.20, for a total transaction of $123,200.00. Following the completion of the sale, the insider owned 210,062 shares of the company’s stock, valued at approximately $7,394,182.40. This trade represents a 1.64% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Riley Exploration Permian Trading Down 1.2%

Riley Exploration Permian stock opened at $35.49 on Friday. Riley Exploration Permian, Inc. has a 52 week low of $24.08 and a 52 week high of $41.53. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.64 and a current ratio of 0.70. The firm has a market capitalization of $786.25 million, a price-to-earnings ratio of 6.29 and a beta of 0.93. The company has a 50 day moving average price of $34.08 and a 200 day moving average price of $33.68.

Riley Exploration Permian Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Wednesday, July 29th. Riley Exploration Permian’s dividend payout ratio (DPR) is 28.99%.

Hedge Funds Weigh In On Riley Exploration Permian

A number of hedge funds have recently modified their holdings of REPX. Aster Capital Management DIFC Ltd purchased a new stake in shares of Riley Exploration Permian during the fourth quarter worth $27,000. Royal Bank of Canada grew its stake in Riley Exploration Permian by 210.9% in the fourth 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. Allworth Financial LP purchased a new position in Riley Exploration Permian in the second quarter valued at about $42,000. Quarry LP acquired a new position in Riley Exploration Permian in the 3rd quarter worth about $46,000. Finally, Advisory Services Network LLC acquired a new position in Riley Exploration Permian in the 3rd quarter worth about $65,000. 58.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on REPX shares. Truist Financial dropped their price target on 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 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 target price on shares of Riley Exploration Permian in a research note on Thursday, July 23rd. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently 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.