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

Riley Exploration Permian, Inc. (NYSE:REPX) insider Corey Neil Riley sold 3,500 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $34.37, for a total value of $120,295.00. Following the completion of the sale, the insider directly owned 148,472 shares of the company’s stock, valued at approximately $5,102,982.64. The trade was a 2.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 Stock Performance

Shares of REPX stock traded up $1.59 during midday trading on Tuesday, hitting $36.35. 482,750 shares of the company were exchanged, compared to its average volume of 373,165. The firm’s 50 day moving average price is $34.95 and its two-hundred day moving average price is $29.70. 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 firm has a market capitalization of $788.65 million, a P/E ratio of 6.45 and a beta of 0.93. Riley Exploration Permian, Inc. has a 52 week low of $24.08 and a 52 week high of $41.26.

Riley Exploration Permian Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in REPX. Dynamic Technology Lab Private Ltd bought a new position in shares of Riley Exploration Permian in the first quarter worth $249,000. Empowered Funds LLC boosted its stake in Riley Exploration Permian by 1.8% in the 1st quarter. Empowered Funds LLC now owns 31,549 shares of the company’s stock worth $920,000 after purchasing an additional 562 shares during the period. Jane Street Group LLC bought a new position in Riley Exploration Permian in the 1st quarter worth about $431,000. JPMorgan Chase & Co. grew its holdings in Riley Exploration Permian by 27.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,438 shares of the company’s stock valued at $195,000 after buying an additional 1,586 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Riley Exploration Permian by 17.2% during the second quarter. Rhumbline Advisers now owns 19,052 shares of the company’s stock valued at $500,000 after buying an additional 2,802 shares during the period. 58.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Truist Financial started coverage on shares of Riley Exploration Permian in a research report on Tuesday, March 24th. They set a “buy” rating and a $47.00 price objective for the company. William Blair reissued an “outperform” rating on shares of Riley Exploration Permian in a research note on Thursday, March 5th. Roth Mkm restated a “buy” rating on shares of Riley Exploration Permian in a report on Thursday, April 30th. Finally, Zacks Research raised shares of Riley Exploration Permian from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 8th. Two research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Strong Buy” and a consensus price target of $41.50.

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.