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

Riley Exploration Permian, Inc. (NYSE:REPX) insider Corey Neil Riley sold 3,500 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $34.37, for a total value of $120,295.00. Following the transaction, the insider directly owned 148,472 shares of the company’s stock, valued at $5,102,982.64. This trade represents a 2.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Corey Neil Riley also recently made the following trade(s):

• On Thursday, February 12th, Corey Neil Riley sold 3,500 shares of Riley Exploration Permian stock. The shares were sold at an average price of $27.41, for a total value of $95,935.00.

Riley Exploration Permian Trading Down 0.6%

REPX opened at $36.15 on Thursday. The company has a market cap of $784.31 million, a P/E ratio of 6.41 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. The company’s 50 day moving average is $35.24 and its 200-day moving average is $29.83. Riley Exploration Permian, Inc. has a 1-year low of $24.08 and a 1-year high of $41.26.

Riley Exploration Permian Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Wednesday, April 29th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Wednesday, April 29th. Riley Exploration Permian’s payout ratio is presently 56.14%.

Institutional Trading of Riley Exploration Permian

Large investors have recently modified their holdings of the stock. Denali Advisors LLC lifted its position in shares of Riley Exploration Permian by 211.8% during the 3rd quarter. Denali Advisors LLC now owns 88,495 shares of the company’s stock valued at $2,399,000 after acquiring an additional 60,110 shares during the period. TrueMark Investments LLC acquired a new stake in Riley Exploration Permian in the third quarter worth $3,027,000. Kennondale Capital Management LLC increased its stake in Riley Exploration Permian by 118.9% in the third quarter. Kennondale Capital Management LLC now owns 75,667 shares of the company’s stock valued at $2,051,000 after purchasing an additional 41,095 shares in the last quarter. American Century Companies Inc. increased its stake in Riley Exploration Permian by 9.4% in the third quarter. American Century Companies Inc. now owns 581,491 shares of the company’s stock valued at $15,764,000 after purchasing an additional 49,843 shares in the last quarter. Finally, Cannell & Spears LLC acquired a new position in shares of Riley Exploration Permian during the third quarter valued at about $2,224,000. Institutional investors and hedge funds own 58.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on REPX shares. Truist Financial began coverage on Riley Exploration Permian in a research report on Tuesday, March 24th. They issued a “buy” rating and a $47.00 target price for the company. Roth Mkm reaffirmed a “buy” rating on shares of Riley Exploration Permian in a research note on Thursday, April 30th. Zacks Research upgraded shares of Riley Exploration Permian from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 8th. Finally, William Blair reiterated an “outperform” rating on shares of Riley Exploration Permian in a research report on Thursday, March 5th. Two analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat.com, Riley Exploration Permian has an average rating of “Strong Buy” and a consensus price target of $41.50.

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.