Bobby Riley Sells 20,000 Shares of Riley Exploration Permian (NYSE:REPX) Stock

Riley Exploration Permian, Inc. (NYSE:REPX) CEO Bobby Riley sold 20,000 shares of the company’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $25.91, for a total transaction of $518,200.00. Following the completion of the transaction, the chief executive officer owned 349,431 shares of the company’s stock, valued at $9,053,757.21. This trade represents a 5.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Bobby Riley also recently made the following trade(s):

• On Monday, November 10th, Bobby Riley sold 12,500 shares of Riley Exploration Permian stock. The stock was sold at an average price of $25.05, for a total value of $313,125.00.

Riley Exploration Permian Price Performance

Shares of REPX traded up $0.35 during midday trading on Monday, reaching $25.80. The stock had a trading volume of 47,038 shares, compared to its average volume of 114,929. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $566.69 million, a price-to-earnings ratio of 4.58 and a beta of 1.02. The company’s 50-day moving average is $26.56 and its 200 day moving average is $27.07. Riley Exploration Permian, Inc. has a 12-month low of $21.98 and a 12-month high of $37.55.

Riley Exploration Permian Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 6th. Shareholders of record on Tuesday, October 21st were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, October 21st. This is a positive change from Riley Exploration Permian’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a yield of 6.2%. Riley Exploration Permian’s dividend payout ratio (DPR) is currently 39.12%.

Riley Exploration Permian declared that its Board of Directors has initiated a share buyback plan on Tuesday, December 16th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 18% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Advisory Services Network LLC purchased a new stake in shares of Riley Exploration Permian during the third quarter valued at $65,000. PharVision Advisers LLC bought a new stake in shares of Riley Exploration Permian in the 3rd quarter valued at about $285,000. Quarry LP bought a new position in shares of Riley Exploration Permian during the 3rd quarter worth approximately $46,000. Parkwood LLC purchased a new stake in Riley Exploration Permian during the third quarter valued at approximately $68,000. Finally, Millennium Management LLC acquired a new stake in Riley Exploration Permian in the third quarter valued at approximately $477,000. 58.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on REPX shares. Roth Capital started coverage on shares of Riley Exploration Permian in a research report on Monday, October 13th. They issued a “buy” rating and a $36.00 target price for the company. Zacks Research upgraded Riley Exploration Permian from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Finally, William Blair began coverage on shares of Riley Exploration Permian in a report on Friday, November 21st. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “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.