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 Riley Exploration Permian stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $35.85, for a total value of $448,125.00. Following the transaction, the chief executive officer owned 482,983 shares of the company’s stock, valued at $17,314,940.55. The trade was a 2.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Riley Exploration Permian Stock Down 1.2%

Shares of REPX opened at $35.49 on Friday. Riley Exploration Permian, Inc. has a 52 week low of $24.08 and a 52 week high of $41.53. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $786.25 million, a price-to-earnings ratio of 6.29 and a beta of 0.93. The stock’s 50-day moving average price is $34.08 and its 200-day moving average price is $33.68.

Riley Exploration Permian Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.5%. The ex-dividend date was Wednesday, July 29th. Riley Exploration Permian’s dividend payout ratio is currently 28.99%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on REPX shares. Roth Capital reaffirmed a “buy” rating and set a $45.00 price objective on shares of Riley Exploration Permian in a research note on Thursday, July 23rd. Zacks Research downgraded shares of Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Finally, Truist Financial dropped their price target on shares of Riley Exploration Permian from $47.00 to $41.00 and set a “buy” rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Hedge Funds Weigh In On Riley Exploration Permian

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Riley Exploration Permian in the second quarter valued at approximately $40,302,000. Dimensional Fund Advisors LP lifted its position in shares of Riley Exploration Permian by 15.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 616,564 shares of the company’s stock valued at $22,474,000 after buying an additional 80,770 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Riley Exploration Permian by 572.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 608,833 shares of the company’s stock valued at $22,192,000 after buying an additional 518,340 shares in the last quarter. Geode Capital Management LLC grew its stake in Riley Exploration Permian by 9.8% in the 4th quarter. Geode Capital Management LLC now owns 303,060 shares of the company’s stock valued at $8,003,000 after acquiring an additional 27,168 shares during the period. Finally, Kennedy Capital Management LLC grew its stake in Riley Exploration Permian by 15.0% in the 3rd quarter. Kennedy Capital Management LLC now owns 248,663 shares of the company’s stock valued at $6,741,000 after acquiring an additional 32,522 shares during the period. Hedge funds and other 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.