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

Riley Exploration Permian, Inc. (NYSE:REPX) insider Corey Riley sold 3,500 shares of the stock in a transaction on Monday, November 9th. The stock was sold at an average price of $40.98, for a total value of $143,430.00. Following the completion of the transaction, the insider directly owned 199,885 shares of the company’s stock, valued at approximately $8,191,287.30. The trade was a 1.72% decrease in their position. The transaction 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 Price Performance

REPX stock traded up $0.53 during trading on Thursday, hitting $43.36. The company had a trading volume of 24,731 shares, compared to its average volume of 315,484. Riley Exploration Permian, Inc. has a fifty-two week low of $24.09 and a fifty-two week high of $54.57. The firm has a market capitalization of $959.10 million, a price-to-earnings ratio of 7.71 and a beta of 0.97. The business has a 50 day moving average of $44.73 and a 200 day moving average of $36.71. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 11th. Investors of record on Wednesday, October 28th were paid a dividend of $0.42 per share. 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 3.9%. The ex-dividend date was Wednesday, October 28th. Riley Exploration Permian’s dividend payout ratio (DPR) is 36.21%.

Institutional Investors Weigh In On Riley Exploration Permian

Several large investors have recently made changes to their positions in REPX. BlackRock Inc. bought a new position in Riley Exploration Permian during the second quarter valued at approximately $40,302,000. Arrowstreet Capital Limited Partnership lifted its stake in Riley Exploration Permian by 572.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 608,833 shares of the company’s stock valued at $22,192,000 after acquiring an additional 518,340 shares during the last quarter. State Street Corp grew its position in Riley Exploration Permian by 97.9% in the third quarter. State Street Corp now owns 645,012 shares of the company’s stock worth $25,807,000 after acquiring an additional 319,108 shares in the last quarter. First Eagle Investment Management LLC grew its position in Riley Exploration Permian by 134.0% in the second quarter. First Eagle Investment Management LLC now owns 430,946 shares of the company’s stock worth $14,204,000 after acquiring an additional 246,798 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Riley Exploration Permian in the second quarter worth approximately $8,021,000. Institutional investors own 58.91% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Truist Financial decreased their price target on Riley Exploration Permian from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Zacks Research raised shares of Riley Exploration Permian from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 23rd. Finally, Roth Capital reaffirmed a “buy” rating on shares of Riley Exploration Permian in a research note on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $43.00.

Riley Exploration Permian Company Profile

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.