Riley Exploration Permian (NYSE:REPX) Shares Down 3.7% Following Insider Selling

Riley Exploration Permian, Inc. (NYSE:REPX - Get Free Report)'s stock price dropped 3.7% during mid-day trading on Thursday following insider selling activity. The company traded as low as $28.88 and last traded at $28.89. Approximately 91,038 shares traded hands during mid-day trading, a decline of 25% from the average daily volume of 121,371 shares. The stock had previously closed at $30.00.

Specifically, CEO Bobby Riley sold 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $28.21, for a total value of $423,150.00. Following the sale, the chief executive officer now directly owns 364,198 shares of the company's stock, valued at $10,274,025.58. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Riley Exploration Permian news, CEO Bobby Riley sold 15,000 shares of the company's stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $28.21, for a total transaction of $423,150.00. Following the completion of the transaction, the chief executive officer now directly owns 364,198 shares in the company, valued at $10,274,025.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Riley Exploration Ho Bluescape sold 700,000 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $25.52, for a total transaction of $17,864,000.00. Following the transaction, the insider now directly owns 4,521,767 shares in the company, valued at $115,395,493.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 764,346 shares of company stock worth $19,400,137. Company insiders own 4.20% of the company's stock.

Riley Exploration Permian Trading Down 2.0 %

The company has a market capitalization of $599.86 million, a PE ratio of 5.27 and a beta of 1.26. The company has a 50 day simple moving average of $26.67 and a 200 day simple moving average of $27.06. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.61 and a current ratio of 0.67.

Riley Exploration Permian (NYSE:REPX - Get Free Report) last issued its quarterly earnings results on Wednesday, March 6th. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.91). The firm had revenue of $99.83 million for the quarter, compared to analysts' expectations of $94.77 million. Riley Exploration Permian had a return on equity of 25.08% and a net margin of 29.75%. Analysts anticipate that Riley Exploration Permian, Inc. will post 6.89 earnings per share for the current year.

Riley Exploration Permian Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 8th. Stockholders of record on Thursday, January 25th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.90%. The ex-dividend date of this dividend was Wednesday, January 24th. Riley Exploration Permian's dividend payout ratio is currently 25.81%.

Hedge Funds Weigh In On Riley Exploration Permian

Institutional investors and hedge funds have recently bought and sold shares of the business. New York State Teachers Retirement System purchased a new stake in Riley Exploration Permian in the 3rd quarter valued at $25,000. Advisor Group Holdings Inc. acquired a new position in Riley Exploration Permian in the 4th quarter valued at about $26,000. Tower Research Capital LLC TRC grew its stake in shares of Riley Exploration Permian by 109.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 710 shares of the company's stock valued at $27,000 after buying an additional 371 shares during the period. Strs Ohio increased its holdings in shares of Riley Exploration Permian by 300.0% during the 4th quarter. Strs Ohio now owns 1,200 shares of the company's stock worth $32,000 after buying an additional 900 shares during the last quarter. Finally, FMR LLC raised its position in shares of Riley Exploration Permian by 68.7% during the 2nd quarter. FMR LLC now owns 1,331 shares of the company's stock valued at $32,000 after buying an additional 542 shares during the period. 58.91% of the stock is currently owned by institutional investors and hedge funds.

About Riley Exploration Permian

Riley Exploration Permian, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in Texas and New Mexico. The company's activities are primarily focused on the Northwest Shelf and Yeso trend of the Permian Basin.