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

Key Points

• Insider Corey Neil Riley sold 3,500 shares for $143,430 at an average price of $40.98 under a pre-arranged Rule 10b5-1 plan. He retained 199,885 shares after the sale, a 1.72% reduction in his position.
• Riley Exploration Permian raised its quarterly dividend from $0.40 to $0.42 per share, equivalent to an annualized $1.68 dividend and a 3.9% yield.
• Analysts’ consensus rating is Buy, with a $43 average price target. REPX recently traded at $43.36; institutional investors own 58.91% of its shares.

Riley Exploration Permian, Inc. (NYSE:REPX - Get Free Report) insider Corey Riley sold 3,500 shares of the stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $40.98, for a total transaction of $143,430.00. Following the sale, the insider owned 199,885 shares of the company's stock, valued at $8,191,287.30. This trade represents a 1.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Riley Exploration Permian Stock Performance

REPX stock traded up $0.53 during trading on Thursday, hitting $43.36. The company had a trading volume of 24,731 shares, compared to its average volume of 315,484. The firm has a market cap of $959.10 million, a PE ratio of 7.71 and a beta of 0.97. Riley Exploration Permian, Inc. has a 1-year low of $24.09 and a 1-year high of $54.57. The firm has a 50-day moving average price of $44.73 and a 200-day moving average price of $36.71. 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. Stockholders of record on Wednesday, October 28th were paid a dividend of $0.42 per share. This is a boost from Riley Exploration Permian's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, October 28th. This represents a $1.68 annualized dividend and a dividend yield of 3.9%. Riley Exploration Permian's dividend payout ratio is presently 36.21%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Riley Exploration Permian in the 2nd quarter worth about $40,302,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Riley Exploration Permian by 572.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 608,833 shares of the company's stock worth $22,192,000 after purchasing an additional 518,340 shares during the last quarter. State Street Corp grew its stake in Riley Exploration Permian by 97.9% in the third quarter. State Street Corp now owns 645,012 shares of the company's stock worth $25,807,000 after purchasing an additional 319,108 shares in the last quarter. First Eagle Investment Management LLC grew its stake in Riley Exploration Permian by 134.0% in the second quarter. First Eagle Investment Management LLC now owns 430,946 shares of the company's stock worth $14,204,000 after purchasing an additional 246,798 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Riley Exploration Permian during the 2nd quarter worth approximately $8,021,000. 58.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on REPX. Truist Financial cut their price target 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. Roth Capital reiterated a "buy" rating on shares of Riley Exploration Permian in a report on Thursday, October 22nd. Finally, Zacks Research upgraded Riley Exploration Permian from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $43.00.

Riley Exploration Permian Company Profile

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.

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