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

Key Points

• Insider sale: Corey Neil Riley sold 3,500 REPX shares for approximately $123,200 under a pre-arranged Rule 10b5-1 plan, reducing his position by 1.64% to 210,062 shares.
• Market and dividend update: REPX shares recently fell 1.7% to $35.89, while the company announced a quarterly dividend of $0.40 per share, implying a 4.5% yield.
• Analyst sentiment remains positive: Three analysts rate the stock Buy and one rates it Hold, producing a consensus “Moderate Buy” rating and an average price target of $43.00.

Riley Exploration Permian, Inc. (NYSE:REPX - Get Free Report) insider Corey Neil Riley sold 3,500 shares of the firm's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $35.20, for a total transaction of $123,200.00. Following the completion of the transaction, the insider directly owned 210,062 shares in the company, valued at $7,394,182.40. This trade represents a 1.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Riley Exploration Permian Trading Down 1.7%

Shares of REPX traded down $0.63 on Wednesday, reaching $35.89. 93,026 shares of the company's stock were exchanged, compared to its average volume of 328,228. The business has a 50 day moving average price of $34.08 and a two-hundred day moving average price of $33.56. Riley Exploration Permian, Inc. has a 12 month low of $24.08 and a 12 month high of $41.53. The stock has a market capitalization of $795.11 million, a P/E ratio of 6.36 and a beta of 0.93. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, July 29th. This represents a $1.60 annualized dividend and a dividend yield of 4.5%. Riley Exploration Permian's payout ratio is presently 28.99%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Riley Exploration Permian

A number of hedge funds have recently modified their holdings of REPX. McAlvany Wealth Management LLC bought a new stake in shares of Riley Exploration Permian in the fourth quarter valued at about $943,000. Renaissance Technologies LLC grew its holdings in shares of Riley Exploration Permian by 134.5% during the first quarter. Renaissance Technologies LLC now owns 142,100 shares of the company's stock worth $5,180,000 after buying an additional 81,500 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of 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. First Trust Advisors LP raised its position in Riley Exploration Permian by 53.0% in the 1st quarter. First Trust Advisors LP now owns 193,512 shares of the company's stock valued at $7,054,000 after buying an additional 67,005 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in Riley Exploration Permian by 567.8% in the 1st quarter. Lazard Asset Management LLC now owns 79,098 shares of the company's stock valued at $2,883,000 after buying an additional 67,254 shares during the last quarter. Institutional investors and hedge funds own 58.91% of the company's stock.

About Riley Exploration Permian

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.

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