Riley Exploration Permian (NYSE:REPX) Shares Gap Down After Insider Selling

Riley Exploration Permian, Inc. (NYSE:REPX) shares gapped down prior to trading on Wednesday following insider selling activity. The stock had previously closed at $42.13, but opened at $40.69. Riley Exploration Permian shares last traded at $41.51, with a volume of 301 shares.

Specifically, President Kevin Riley sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, June 7th. The stock was sold at an average price of $41.24, for a total transaction of $309,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Texel Resources Inc. acquired 6,157 shares of Riley Exploration Permian stock in a transaction that occurred on Tuesday, April 20th. The shares were bought at an average cost of $23.77 per share, with a total value of $146,351.89. Following the transaction, the insider now owns 1,769,403 shares in the company, valued at $42,058,709.31. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 15,800 shares of company stock valued at $594,903. 51.50% of the stock is owned by corporate insiders.

A number of research analysts recently weighed in on REPX shares. Truist started coverage on Riley Exploration Permian in a research report on Tuesday, June 1st. They set a “buy” rating and a $45.00 price objective for the company. Roth Capital started coverage on Riley Exploration Permian in a research note on Thursday, April 8th. They set a “buy” rating and a $42.00 target price on the stock. Finally, Truist Securities started coverage on Riley Exploration Permian in a research note on Tuesday, June 1st. They set a “buy” rating and a $45.00 target price on the stock.

The business’s 50 day simple moving average is $32.72. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.48 and a quick ratio of 0.48.

Riley Exploration Permian (NYSE:REPX) last issued its earnings results on Thursday, April 22nd. The company reported ($5.79) EPS for the quarter, missing the consensus estimate of $0.64 by ($6.43). The business had revenue of $23.01 million for the quarter, compared to analysts’ expectations of $30.44 million. Riley Exploration Permian had a negative net margin of 60.16% and a negative return on equity of 178.93%. Analysts expect that Riley Exploration Permian, Inc. will post 2.56 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in REPX. Millennium Management LLC purchased a new position in shares of Riley Exploration Permian in the 1st quarter worth $766,000. Squarepoint Ops LLC purchased a new position in shares of Riley Exploration Permian in the 1st quarter worth $495,000. Citadel Advisors LLC purchased a new position in shares of Riley Exploration Permian in the 1st quarter worth $364,000. Finally, BlackRock Inc. purchased a new position in shares of Riley Exploration Permian in the 1st quarter worth $325,000. Hedge funds and other institutional investors own 43.01% of the company’s stock.

Riley Exploration Permian Company Profile (NYSE:REPX)

Riley Exploration Permian, Inc, an independent oil and natural gas, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids reserves in the Permian Basin. The company holds interest in the Kansas properties located in central Kansas. As of December 31, 2020, it had 153 oil producing wells across 10,893 net acres with 98.7 MBbl proved reserves.

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