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

Riley Exploration Permian, Inc. (NYSE:REPX) CEO Bobby Riley sold 12,500 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $27.79, for a total value of $347,375.00. Following the completion of the transaction, the chief executive officer owned 336,931 shares in the company, valued at $9,363,312.49. This represents a 3.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Bobby Riley also recently made the following trade(s):

• On Friday, December 19th, Bobby Riley sold 20,000 shares of Riley Exploration Permian stock. The shares were sold at an average price of $25.91, for a total value of $518,200.00.

Riley Exploration Permian Stock Up 1.2%

Shares of Riley Exploration Permian stock traded up $0.32 during midday trading on Wednesday, reaching $27.83. 75,481 shares of the company’s stock traded hands, compared to its average volume of 249,518. The company has a market cap of $611.44 million, a price-to-earnings ratio of 4.93 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. The company’s 50 day simple moving average is $27.00 and its 200 day simple moving average is $27.04. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.64 and a current ratio of 0.70.

Riley Exploration Permian Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Thursday, January 22nd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 5.7%. The ex-dividend date was Thursday, January 22nd. Riley Exploration Permian’s dividend payout ratio is presently 39.12%.

Riley Exploration Permian declared that its board has initiated a stock repurchase program on Tuesday, December 16th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 18% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on REPX shares. Zacks Research raised Riley Exploration Permian from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 15th. William Blair initiated coverage on shares of Riley Exploration Permian in a research report on Friday, November 21st. They set an “outperform” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. Based on data from MarketBeat, Riley Exploration Permian presently has a consensus rating of “Strong Buy” and an average price target of $36.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of REPX. Quarry LP bought a new stake in Riley Exploration Permian during the third quarter worth $46,000. Advisory Services Network LLC bought a new stake in shares of Riley Exploration Permian during the third quarter worth approximately $65,000. Parkwood LLC bought a new stake in Riley Exploration Permian in the 3rd quarter valued at $68,000. State of Alaska Department of Revenue grew its stake in shares of Riley Exploration Permian by 346.3% in the fourth 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 in the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in Riley Exploration Permian by 442.4% in the 2nd quarter. Osaic Holdings Inc. now owns 4,231 shares of the company’s stock valued at $111,000 after purchasing an additional 3,451 shares during the period. 58.91% of the stock is 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.