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

Riley Exploration Permian, Inc. (NYSE:REPX) CEO Bobby Riley sold 12,500 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $34.45, for a total transaction of $430,625.00. Following the completion of the transaction, the chief executive officer directly owned 313,020 shares in the company, valued at $10,783,539. This represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Riley Exploration Permian Stock Down 0.6%

REPX stock opened at $36.15 on Thursday. The company has a market cap of $784.31 million, a price-to-earnings ratio of 6.41 and a beta of 0.93. 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, Inc. has a 12 month low of $24.08 and a 12 month high of $41.26. The firm has a 50-day moving average of $35.24 and a two-hundred day moving average of $29.83.

Riley Exploration Permian Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Wednesday, April 29th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, April 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 (DPR) is currently 56.14%.

Analyst Ratings Changes

REPX has been the subject of a number of research analyst reports. William Blair reaffirmed an “outperform” rating on shares of Riley Exploration Permian in a research report on Thursday, March 5th. Zacks Research raised shares of Riley Exploration Permian from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 8th. Roth Mkm reaffirmed a “buy” rating on shares of Riley Exploration Permian in a research report on Thursday, April 30th. Finally, Truist Financial initiated coverage on Riley Exploration Permian in a report on Tuesday, March 24th. They issued a “buy” rating and a $47.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Strong Buy” and an average target price of $41.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new position in Riley Exploration Permian during the fourth quarter worth about $27,000. Royal Bank of Canada grew its position in shares of 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 during the last quarter. Quarry LP acquired a new stake in shares of Riley Exploration Permian in the third quarter valued at approximately $46,000. Advisory Services Network LLC acquired a new stake in shares of Riley Exploration Permian in the third quarter valued at approximately $65,000. Finally, Parkwood LLC acquired a new stake in shares of Riley Exploration Permian in the third quarter valued at approximately $68,000. 58.91% of the stock is currently owned by institutional investors and hedge funds.

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.