Riley Exploration Permian (NYSE:REPX) CFO Philip Riley Sells 4,000 Shares of Stock

Key Points

• CFO Philip Riley sold 4,000 REPX shares at an average price of $37.61, generating $150,440 and reducing his direct stake by 1.67% to 235,503 shares.
• Riley Exploration Permian recently paid a quarterly dividend of $0.40 per share, equivalent to an annualized $1.60 dividend and a 4.2% yield.
• Analysts maintain a generally positive outlook, with three Buy ratings and one Hold rating, an average “Moderate Buy” consensus, and a consensus price target of $43 versus the stock’s reported $37.77 price.

Riley Exploration Permian, Inc. (NYSE:REPX - Get Free Report) CFO Philip Riley sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $37.61, for a total transaction of $150,440.00. Following the completion of the transaction, the chief financial officer directly owned 235,503 shares in the company, valued at approximately $8,857,267.83. The trade was a 1.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Riley Exploration Permian Stock Performance

REPX stock traded up $0.06 during midday trading on Wednesday, reaching $37.77. 22,151 shares of the company's stock traded hands, compared to its average volume of 322,440. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.53. Riley Exploration Permian, Inc. has a 52-week low of $24.08 and a 52-week high of $41.53. The stock has a market cap of $836.65 million, a P/E ratio of 6.69 and a beta of 0.93. The stock's 50-day moving average is $34.19 and its 200 day moving average is $33.88.

Riley Exploration Permian Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th were given a $0.40 dividend. The ex-dividend date was Wednesday, July 29th. This represents a $1.60 dividend on an annualized basis and a yield of 4.2%. Riley Exploration Permian's dividend payout ratio is presently 28.99%.

Hedge Funds Weigh In On Riley Exploration Permian

Institutional investors have recently made changes to their positions in the company. Empowered Funds LLC bought a new stake in shares of Riley Exploration Permian in the second quarter valued at about $2,326,000. Public Employees Retirement System of Ohio bought a new position in Riley Exploration Permian during the 2nd quarter worth about $33,689,000. Bank of America Corp DE purchased a new position in Riley Exploration Permian during the 2nd quarter valued at about $646,000. Legal & General Group Plc bought a new stake in shares of Riley Exploration Permian in the 2nd quarter valued at about $246,000. Finally, Globeflex Capital L P bought a new stake in shares of Riley Exploration Permian in the 2nd quarter valued at about $108,000. Hedge funds and other institutional investors own 58.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Roth Capital reiterated a "buy" rating and issued a $45.00 target price on shares of Riley Exploration Permian in a research report on Thursday, July 23rd. Zacks Research cut shares of Riley Exploration Permian from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. Finally, Truist Financial reduced their price objective 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, August 12th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $43.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source