Riley Exploration Permian (NYSE:REPX) Insider Corey Neil Riley Sells 3,500 Shares of Stock

Riley Exploration Permian, Inc. (NYSE:REPX) insider Corey Neil Riley sold 3,500 shares of the company’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $27.41, for a total value of $95,935.00. Following the completion of the sale, the insider owned 158,565 shares of the company’s stock, valued at approximately $4,346,266.65. The trade was a 2.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Riley Exploration Permian Stock Up 3.8%

NYSE REPX opened at $27.76 on Friday. The business’s fifty day simple moving average is $26.98 and its 200-day simple moving average is $27.04. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.53. The firm has a market cap of $609.86 million, a PE ratio of 4.92 and a beta of 1.22. Riley Exploration Permian, Inc. has a 52 week low of $21.98 and a 52 week high of $36.18.

Riley Exploration Permian Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Thursday, January 22nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, January 22nd. This represents a $1.60 annualized dividend and a dividend yield of 5.8%. Riley Exploration Permian’s dividend payout ratio is 39.12%.

Riley Exploration Permian announced that its Board of Directors has initiated a share buyback program on Tuesday, December 16th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 18% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Riley Exploration Permian

A number of large investors have recently modified their holdings of the company. Quarry LP purchased a new stake in shares of Riley Exploration Permian during the 3rd quarter worth $46,000. Advisory Services Network LLC purchased a new stake in Riley Exploration Permian during the 3rd quarter worth about $65,000. Parkwood LLC acquired a new position in shares of Riley Exploration Permian during the 3rd quarter worth about $68,000. State of Alaska Department of Revenue increased its holdings in shares of Riley Exploration Permian by 346.3% in the 4th quarter. State of Alaska Department of Revenue now owns 3,579 shares of the company’s stock valued at $94,000 after acquiring an additional 2,777 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in shares of Riley Exploration Permian by 442.4% during the second quarter. Osaic Holdings Inc. now owns 4,231 shares of the company’s stock worth $111,000 after purchasing an additional 3,451 shares during the period. 58.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Zacks Research raised Riley Exploration Permian from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 15th. William Blair started coverage on Riley Exploration Permian in a research report on Friday, November 21st. They set an “outperform” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat, Riley Exploration Permian has an average rating of “Strong Buy” and an average price target of $36.00.

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.