Insider Selling: Riley Exploration Permian (NYSE:REPX) CFO Sells $150,440.00 in Stock

Riley Exploration Permian, Inc. (NYSE:REPX) CFO Philip Riley sold 4,000 shares of the stock in a transaction dated 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 sale, the chief financial officer directly owned 235,503 shares in the company, valued at approximately $8,857,267.83. This trade represents a 1.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Riley Exploration Permian Trading Up 0.5%

Riley Exploration Permian stock opened at $38.17 on Friday. Riley Exploration Permian, Inc. has a 52-week low of $24.08 and a 52-week high of $41.53. 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 firm has a market capitalization of $845.62 million, a price-to-earnings ratio of 6.77 and a beta of 0.93. The firm has a 50-day moving average price of $34.35 and a two-hundred day moving average price of $34.04.

Riley Exploration Permian Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have recently commented on REPX. Zacks Research lowered Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Roth Capital reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Riley Exploration Permian in a report on Thursday, July 23rd. Finally, Truist Financial decreased their target price on shares of Riley Exploration Permian from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Institutional Investors Weigh In On Riley Exploration Permian

Institutional investors have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new stake in shares of Riley Exploration Permian in the 4th quarter worth $27,000. Royal Bank of Canada lifted its holdings in shares of Riley Exploration Permian by 210.9% in the fourth quarter. Royal Bank of Canada now owns 1,138 shares of the company’s stock valued at $31,000 after buying an additional 772 shares during the period. Allworth Financial LP bought a new position in Riley Exploration Permian during the second quarter valued at about $42,000. Quarry LP bought a new position in Riley Exploration Permian during the third quarter valued at about $46,000. Finally, Nykredit A S bought a new position in Riley Exploration Permian during the second quarter valued at about $63,000. 58.91% of the stock is currently owned by institutional investors and hedge funds.

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.