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

Riley Exploration Permian, Inc. (NYSE:REPX) insider Corey Riley sold 3,500 shares of the stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $40.98, for a total transaction of $143,430.00. Following the completion of the transaction, the insider directly owned 199,885 shares in the company, valued at approximately $8,191,287.30. This represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Riley Exploration Permian Trading Up 3.1%

Shares of REPX stock opened at $44.15 on Friday. Riley Exploration Permian, Inc. has a 12-month low of $24.09 and a 12-month high of $54.57. The company has a market capitalization of $976.64 million, a PE ratio of 7.83 and a beta of 0.97. The firm has a 50 day moving average price of $44.79 and a two-hundred day moving average price of $36.80. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.53.

Riley Exploration Permian Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 11th. Investors of record on Wednesday, October 28th were paid a $0.42 dividend. This is a boost from Riley Exploration Permian’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, October 28th. This represents a $1.68 annualized dividend and a yield of 3.8%. Riley Exploration Permian’s dividend payout ratio is presently 36.21%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Riley Exploration Permian in the second quarter valued at approximately $40,302,000. State Street Corp grew its position in Riley Exploration Permian by 97.9% during the third quarter. State Street Corp now owns 645,012 shares of the company’s stock worth $25,807,000 after buying an additional 319,108 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Riley Exploration Permian by 15.1% during the first quarter. Dimensional Fund Advisors LP now owns 616,564 shares of the company’s stock worth $22,474,000 after buying an additional 80,770 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Riley Exploration Permian by 572.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 608,833 shares of the company’s stock worth $22,192,000 after acquiring an additional 518,340 shares during the period. Finally, First Eagle Investment Management LLC increased its stake in Riley Exploration Permian by 8.1% during the 3rd quarter. First Eagle Investment Management LLC now owns 465,840 shares of the company’s stock worth $18,638,000 after acquiring an additional 34,894 shares during the period. 58.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on REPX. Roth Capital reaffirmed a “buy” rating on shares of Riley Exploration Permian in a report on Thursday, October 22nd. Truist Financial dropped their target price on Riley Exploration Permian from $47.00 to $41.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat, Riley Exploration Permian has an average rating of “Buy” and an average target price of $43.00.

About Riley Exploration Permian

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.