Riley Exploration Permian (NYSE:REPX) CFO Philip Riley Sells 4,000 Shares

Riley Exploration Permian, Inc. (NYSE:REPX) CFO Philip Riley sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $37.61, for a total transaction of $150,440.00. Following the completion of the transaction, the chief financial officer directly owned 235,503 shares in the company, valued at $8,857,267.83. This trade represents a 1.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Riley Exploration Permian Price Performance

Shares of REPX opened at $37.42 on Thursday. The stock has a market cap of $829.00 million, a P/E ratio of 6.63 and a beta of 0.93. Riley Exploration Permian, Inc. has a 1 year low of $24.08 and a 1 year high of $41.53. The stock’s 50-day moving average price is $34.22 and its two-hundred day moving average price is $33.95. 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 announced a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.3%. The ex-dividend date was Wednesday, July 29th. Riley Exploration Permian’s dividend payout ratio is presently 28.99%.

Wall Street Analysts Forecast Growth

REPX has been the subject of several recent analyst reports. Truist Financial cut 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, August 12th. Roth Capital reissued a “buy” rating and set a $45.00 price target on shares of Riley Exploration Permian in a research report on Thursday, July 23rd. Finally, Zacks Research lowered Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock 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 have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd bought a new position in shares of Riley Exploration Permian in the first quarter worth $249,000. Empowered Funds LLC raised its stake in Riley Exploration Permian by 1.8% in the first quarter. Empowered Funds LLC now owns 31,549 shares of the company’s stock valued at $920,000 after purchasing an additional 562 shares in the last quarter. Jane Street Group LLC bought a new stake in Riley Exploration Permian during the first quarter worth about $431,000. JPMorgan Chase & Co. lifted its position in Riley Exploration Permian by 27.1% during the second quarter. JPMorgan Chase & Co. now owns 7,438 shares of the company’s stock worth $195,000 after purchasing an additional 1,586 shares during the period. Finally, Rhumbline Advisers grew its stake in Riley Exploration Permian by 17.2% during the second quarter. Rhumbline Advisers now owns 19,052 shares of the company’s stock worth $500,000 after buying an additional 2,802 shares in the last quarter. 58.91% of the stock is currently owned by institutional investors.

Riley Exploration Permian Company Profile

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.