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

Riley Exploration Permian, Inc. (NYSE:REPX) insider Corey Riley sold 3,500 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $40.98, for a total transaction of $143,430.00. Following the transaction, the insider directly owned 199,885 shares of the company’s stock, valued at $8,191,287.30. The trade was a 1.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Riley Exploration Permian Trading Up 0.6%

Riley Exploration Permian stock traded up $0.25 during trading on Friday, hitting $44.40. The company had a trading volume of 184,886 shares, compared to its average volume of 315,621. The stock has a market cap of $982.17 million, a price-to-earnings ratio of 7.87 and a beta of 0.97. 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, Inc. has a 1-year low of $24.09 and a 1-year high of $54.57. The company’s 50 day simple moving average is $44.83 and its 200-day simple moving average is $36.88.

Riley Exploration Permian Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 11th. Stockholders of record on Wednesday, October 28th were paid a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, October 28th. This is a boost from Riley Exploration Permian’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.8%. Riley Exploration Permian’s payout ratio is presently 36.21%.

Institutional Investors Weigh In On Riley Exploration Permian

Several large investors have recently added to or reduced their stakes in the business. Allworth Financial LP acquired a new stake in Riley Exploration Permian during the 2nd quarter worth approximately $42,000. Nykredit A S acquired a new position in shares of Riley Exploration Permian in the second quarter worth $63,000. M&G PLC acquired a new position in shares of Riley Exploration Permian in the third quarter worth $129,000. Globeflex Capital L P purchased a new stake in shares of Riley Exploration Permian during the second quarter worth $108,000. Finally, Nisa Investment Advisors LLC increased its position in shares of Riley Exploration Permian by 11.8% during the third quarter. Nisa Investment Advisors LLC now owns 4,239 shares of the company’s stock worth $170,000 after acquiring an additional 446 shares during the period. 58.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on REPX. Roth Capital reiterated a “buy” rating on shares of Riley Exploration Permian in a report on Thursday, October 22nd. Zacks Research upgraded Riley Exploration Permian from a “hold” rating to a “strong-buy” rating in a report on Friday, October 23rd. Finally, Truist Financial dropped their target price on Riley Exploration Permian from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat, Riley Exploration Permian has a consensus rating of “Buy” and a consensus price target of $43.00.

About Riley Exploration Permian

Riley Exploration Permian, Inc. is an independent oil and natural gas exploration and production company. It acquires, develops and operates properties in the Permian Basin, with operations concentrated in southeastern New Mexico and West Texas. The company’s production includes crude oil, natural gas and natural gas liquids. Its activities span the development of existing properties as well as drilling and other work to identify and produce additional resources. Riley Exploration Permian traces its origins to 2016 and became publicly traded following a merger with Tengasco.