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

Riley Exploration Permian, Inc. (NYSE:REPX) insider Corey Neil Riley sold 3,500 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $35.20, for a total transaction of $123,200.00. Following the completion of the sale, the insider owned 210,062 shares in the company, valued at approximately $7,394,182.40. This trade represents a 1.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Riley Exploration Permian Stock Down 1.7%

NYSE:REPX opened at $35.91 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.64 and a current ratio of 0.70. The company has a market capitalization of $795.55 million, a price-to-earnings ratio of 6.37 and a beta of 0.93. Riley Exploration Permian, Inc. has a one year low of $24.08 and a one year high of $41.53. The stock has a 50-day simple moving average of $34.09 and a 200 day simple moving average of $33.62.

Riley Exploration Permian Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, July 29th. This represents a $1.60 annualized dividend and a yield of 4.5%. Riley Exploration Permian’s payout ratio is presently 28.99%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. McAlvany Wealth Management LLC acquired a new stake in Riley Exploration Permian in the fourth quarter worth approximately $943,000. Renaissance Technologies LLC raised its stake in shares of 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 in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Riley Exploration Permian by 15.1% in the first quarter. Dimensional Fund Advisors LP now owns 616,564 shares of the company’s stock valued at $22,474,000 after buying an additional 80,770 shares during the period. First Trust Advisors LP lifted its holdings in shares of Riley Exploration Permian by 53.0% in the first quarter. First Trust Advisors LP now owns 193,512 shares of the company’s stock valued at $7,054,000 after buying an additional 67,005 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in Riley Exploration Permian by 567.8% during the first quarter. Lazard Asset Management LLC now owns 79,098 shares of the company’s stock valued at $2,883,000 after buying an additional 67,254 shares in the last quarter. Institutional investors own 58.91% of the company’s stock.

Analyst Upgrades and Downgrades

REPX has been the topic of a number of recent research reports. Truist Financial cut their target price on shares of Riley Exploration Permian from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Wednesday. Roth Capital reiterated 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 downgraded Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Riley Exploration Permian has an average rating of “Moderate Buy” and an average price target of $43.00.

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.