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

Riley Exploration Permian, Inc. (NYSE:REPX) CEO Bobby Riley sold 12,500 shares of Riley Exploration Permian 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 in the company, valued at $17,314,940.55. This represents a 2.52% decrease in their position. The transaction was disclosed in a document filed 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 Performance

Shares of Riley Exploration Permian stock opened at $36.13 on Friday. The firm has a market cap of $800.42 million, a PE ratio of 6.41 and a beta of 0.93. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.53. Riley Exploration Permian, Inc. has a 52 week low of $24.08 and a 52 week high of $41.53. The business’s fifty day simple moving average is $34.10 and its 200-day simple moving average is $33.70.

Riley Exploration Permian Announces Dividend

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

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Truist Financial lowered their target price on shares of Riley Exploration Permian from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Wednesday. Zacks Research downgraded shares of Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Finally, Roth Capital restated a “buy” rating and issued a $45.00 price objective on shares of Riley Exploration Permian in a report on Thursday, July 23rd. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Riley Exploration Permian presently has an average rating of “Moderate Buy” and an average target price of $43.00.

Institutional Investors Weigh In On Riley Exploration Permian

Several institutional investors and hedge funds have recently modified their holdings of REPX. Aster Capital Management DIFC Ltd acquired a new position in Riley Exploration Permian during the 4th quarter worth about $27,000. Royal Bank of Canada boosted its holdings in Riley Exploration Permian by 210.9% during the 4th quarter. Royal Bank of Canada now owns 1,138 shares of the company’s stock valued at $31,000 after acquiring an additional 772 shares during the period. Allworth Financial LP acquired a new position in Riley Exploration Permian in the 2nd quarter valued at about $42,000. Quarry LP acquired a new position in Riley Exploration Permian in the 3rd quarter valued at about $46,000. Finally, Advisory Services Network LLC purchased a new stake in Riley Exploration Permian during the third quarter worth about $65,000. Hedge funds and other institutional investors own 58.91% of the company’s stock.

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.