Riley Exploration Permian (NYSE:REPX) Shares Down 4% – Here’s Why

Riley Exploration Permian, Inc. (NYSE:REPX)’s share price fell 4% on Monday . The stock traded as low as $41.87 and last traded at $41.8840. Approximately 52,432 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 328,382 shares. The stock had previously closed at $43.64.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Truist Financial lowered their price objective on Riley Exploration Permian from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Roth Capital reissued a “buy” rating and issued a $45.00 target price on shares of Riley Exploration Permian in a research note on Thursday, July 23rd. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Riley Exploration Permian Price Performance

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 $890.59 million, a PE ratio of 7.13 and a beta of 0.96. The firm’s fifty day simple moving average is $37.89 and its 200-day simple moving average is $36.10.

Riley Exploration Permian Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $1.60 annualized dividend and a dividend yield of 4.0%. Riley Exploration Permian’s dividend payout ratio (DPR) is 28.99%.

Insider Buying and Selling

In related news, CEO Bobby Riley sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $35.85, for a total value of $448,125.00. Following the transaction, the chief executive officer directly owned 482,983 shares of the company’s stock, valued at approximately $17,314,940.55. This represents a 2.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Corey Riley sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $35.20, for a total value 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 20,000 shares of company stock worth $721,765 in the last three months. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP purchased a new stake in Riley Exploration Permian in the second quarter worth approximately $42,000. Nykredit A S bought a new stake in Riley Exploration Permian in the 2nd quarter worth approximately $63,000. Globeflex Capital L P purchased a new stake in Riley Exploration Permian during the 2nd quarter valued at $108,000. Quartz Partners LLC purchased a new stake in Riley Exploration Permian during the 2nd quarter valued at $206,000. Finally, EP Wealth Advisors LLC purchased a new stake in Riley Exploration Permian during the 2nd quarter valued at $207,000. 58.91% of the stock is owned by institutional investors.

About Riley Exploration Permian

Riley Exploration Permian, Inc is an independent oil and natural gas exploration and production company. The company focuses on acquiring, developing and operating oil and gas properties, with production consisting primarily of crude oil, natural gas and natural gas liquids.

Riley Exploration Permian’s operations are concentrated in the Permian Basin, one of the largest hydrocarbon-producing regions in the United States. Its asset base is primarily located in southeastern New Mexico, where the company develops wells and related infrastructure across its leasehold interests.

The company was established in 2016 and became a publicly traded company in 2021.