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

Riley Exploration Permian, Inc. (NYSE:REPX) CEO Bobby Riley sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $27.79, for a total transaction of $347,375.00. Following the completion of the transaction, the chief executive officer directly owned 336,931 shares of the company’s stock, valued at approximately $9,363,312.49. This trade represents a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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 stock was sold at an average price of $25.91, for a total value of $518,200.00.

Riley Exploration Permian Price Performance

Riley Exploration Permian stock opened at $26.75 on Friday. The firm has a market capitalization of $587.67 million, a P/E ratio of 4.74 and a beta of 1.22. Riley Exploration Permian, Inc. has a one year low of $21.98 and a one year high of $36.18. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.70 and a quick ratio of 0.64. The business has a fifty day moving average price of $26.98 and a 200-day moving average price of $27.04.

Riley Exploration Permian announced that its Board of Directors has initiated a share repurchase program on Tuesday, December 16th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 18% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Riley Exploration Permian Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Thursday, January 22nd were given a dividend of $0.40 per share. The ex-dividend date was Thursday, January 22nd. This represents a $1.60 annualized dividend and a dividend yield of 6.0%. Riley Exploration Permian’s dividend payout ratio is currently 39.12%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Riley Exploration Permian

Hedge funds have recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Riley Exploration Permian during the 3rd quarter valued at about $46,000. Advisory Services Network LLC purchased a new stake in Riley Exploration Permian in the third quarter worth approximately $65,000. Parkwood LLC bought a new position in Riley Exploration Permian during the third quarter valued at approximately $68,000. State of Alaska Department of Revenue raised its stake in shares of Riley Exploration Permian by 346.3% during the fourth quarter. State of Alaska Department of Revenue now owns 3,579 shares of the company’s stock worth $94,000 after acquiring an additional 2,777 shares in the last quarter. Finally, Osaic Holdings Inc. raised its stake in shares of Riley Exploration Permian by 442.4% during the second quarter. Osaic Holdings Inc. now owns 4,231 shares of the company’s stock worth $111,000 after acquiring an additional 3,451 shares in the last quarter. Institutional investors own 58.91% of the company’s stock.

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.