Riley Exploration Permian (NYSE:REPX) Trading Down 5% - Here's Why

Key Points

• Riley Exploration Permian's stock price dropped 5% to $27.53, with trading volume down 23% compared to the average.
• The company announced a quarterly dividend of $0.38 per share, yielding 5.6% with a payout ratio of 33.55%.
• Significant insider selling occurred recently, with CEO Bobby Riley and another insider reducing their holdings, indicating potential concerns about stock performance.

Riley Exploration Permian, Inc. (NYSE:REPX - )'s stock price dropped 5% on Monday . The company traded as low as $27.55 and last traded at $27.53. Approximately 82,691 shares were traded during mid-day trading, a decline of 23% from the average daily volume of 107,873 shares. The stock had previously closed at $28.96.

Riley Exploration Permian Stock Down 6.0%

The business has a 50-day simple moving average of $27.47 and a two-hundred day simple moving average of $27.08. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $600.20 million, a P/E ratio of 4.83 and a beta of 1.28.

Riley Exploration Permian Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 7th. Stockholders of record on Thursday, July 24th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 5.6%. The ex-dividend date was Thursday, July 24th. Riley Exploration Permian's dividend payout ratio is presently 33.55%.

Insider Buying and Selling at Riley Exploration Permian

In other news, insider Corey Neil Riley sold 3,500 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $26.42, for a total transaction of $92,470.00. Following the sale, the insider owned 176,700 shares in the company, valued at approximately $4,668,414. This represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bobby Riley sold 15,000 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $26.01, for a total value of $390,150.00. Following the sale, the chief executive officer owned 399,636 shares in the company, valued at $10,394,532.36. The trade was a 3.62% decrease in their position. The disclosure for this sale can be found here. 4.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Riley Exploration Permian

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in shares of Riley Exploration Permian by 93.5% in the 1st quarter. GAMMA Investing LLC now owns 929 shares of the company's stock valued at $27,000 after acquiring an additional 449 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Riley Exploration Permian by 68.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,150 shares of the company's stock valued at $61,000 after acquiring an additional 874 shares during the last quarter. State of Wyoming bought a new stake in shares of Riley Exploration Permian in the 1st quarter valued at about $102,000. Osaic Holdings Inc. increased its stake in shares of Riley Exploration Permian by 442.4% in the 2nd quarter. Osaic Holdings Inc. now owns 4,231 shares of the company's stock valued at $111,000 after acquiring an additional 3,451 shares during the last quarter. Finally, CWM LLC increased its stake in shares of Riley Exploration Permian by 13.0% in the 1st quarter. CWM LLC now owns 4,221 shares of the company's stock valued at $123,000 after acquiring an additional 486 shares during the last quarter. Institutional investors own 58.91% of the company's stock.

Riley Exploration Permian Company Profile

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.

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