Insider Selling: Riley Exploration Permian (NYSE:REPX) Insider Sells $123,200.00 in Stock

Riley Exploration Permian, Inc. (NYSE:REPX) insider Corey Neil Riley sold 3,500 shares of Riley Exploration Permian stock in a transaction on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Riley Exploration Permian Stock Up 1.8%

Shares of Riley Exploration Permian stock opened at $36.13 on Friday. Riley Exploration Permian, Inc. has a one year low of $24.08 and a one year high of $41.53. The company has a market cap of $800.42 million, a P/E ratio of 6.41 and a beta of 0.93. 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 fifty day moving average of $34.10 and a two-hundred day moving average of $33.70.

Riley Exploration Permian Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were given a $0.40 dividend. The ex-dividend date was Wednesday, July 29th. This represents a $1.60 dividend on an annualized basis and a yield of 4.4%. Riley Exploration Permian’s dividend payout ratio (DPR) is presently 28.99%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Roth Capital reiterated a “buy” rating and set a $45.00 target price on shares of Riley Exploration Permian in a research report on Thursday, July 23rd. Zacks Research cut Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Finally, Truist Financial decreased their price target on Riley Exploration Permian from $47.00 to $41.00 and set a “buy” rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.00.

Institutional Trading of Riley Exploration Permian

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd acquired a new position in Riley Exploration Permian during the first quarter worth about $249,000. Empowered Funds LLC increased its holdings in Riley Exploration Permian by 1.8% in the first quarter. Empowered Funds LLC now owns 31,549 shares of the company’s stock valued at $920,000 after buying an additional 562 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Riley Exploration Permian during the 1st quarter valued at approximately $431,000. JPMorgan Chase & Co. boosted its stake in shares of Riley Exploration Permian by 27.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,438 shares of the company’s stock worth $195,000 after acquiring an additional 1,586 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Riley Exploration Permian by 17.2% during the 2nd quarter. Rhumbline Advisers now owns 19,052 shares of the company’s stock worth $500,000 after acquiring an additional 2,802 shares in the last quarter. Institutional investors and hedge funds 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.