Insider Selling: Riley Exploration Permian (NYSE:REPX) Insider Sells $120,295.00 in 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, May 11th. The stock was sold at an average price of $34.37, for a total value of $120,295.00. Following the completion of the sale, the insider owned 148,472 shares in the company, valued at $5,102,982.64. The trade was a 2.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Corey Neil Riley also recently made the following trade(s):

• On Thursday, February 12th, Corey Neil Riley sold 3,500 shares of Riley Exploration Permian stock. The stock was sold at an average price of $27.41, for a total value of $95,935.00.

Riley Exploration Permian Price Performance

REPX opened at $36.38 on Friday. The stock has a 50-day moving average price of $35.38 and a 200-day moving average price of $29.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.70 and a quick ratio of 0.64. The firm has a market cap of $789.30 million, a PE ratio of 6.45 and a beta of 0.93. Riley Exploration Permian, Inc. has a 1 year low of $24.08 and a 1 year high of $41.26.

Riley Exploration Permian Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Wednesday, April 29th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Wednesday, April 29th. Riley Exploration Permian’s payout ratio is currently 56.14%.

Hedge Funds Weigh In On Riley Exploration Permian

A number of hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC raised its position in Riley Exploration Permian by 134.5% in the 1st quarter. Renaissance Technologies LLC now owns 142,100 shares of the company’s stock worth $5,180,000 after buying an additional 81,500 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Riley Exploration Permian by 572.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 608,833 shares of the company’s stock worth $22,192,000 after buying an additional 518,340 shares during the last quarter. Sei Investments Co. raised its position in Riley Exploration Permian by 90.0% in the 1st quarter. Sei Investments Co. now owns 41,484 shares of the company’s stock worth $1,512,000 after buying an additional 19,650 shares during the last quarter. State of Wyoming raised its position in Riley Exploration Permian by 47.4% in the 1st quarter. State of Wyoming now owns 7,386 shares of the company’s stock worth $269,000 after buying an additional 2,375 shares during the last quarter. Finally, First Trust Advisors LP raised its position in Riley Exploration Permian by 53.0% in the 1st quarter. First Trust Advisors LP now owns 193,512 shares of the company’s stock worth $7,054,000 after buying an additional 67,005 shares during the last quarter. Hedge funds and other institutional investors own 58.91% of the company’s stock.

Wall Street Analyst Weigh In

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

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.