Riley Exploration Permian (NYSE:REPX) CEO Bobby Riley Sells 12,500 Shares of Stock

Riley Exploration Permian, Inc. (NYSE:REPX) CEO Bobby Riley sold 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $27.79, for a total value of $347,375.00. Following the sale, the chief executive officer directly owned 336,931 shares of the company’s stock, valued at approximately $9,363,312.49. This represents a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Bobby Riley also recently made the following trade(s):

• On Friday, December 19th, Bobby Riley sold 20,000 shares of Riley Exploration Permian stock. The shares were sold at an average price of $25.91, for a total value of $518,200.00.

Riley Exploration Permian Trading Up 1.2%

NYSE:REPX opened at $27.83 on Thursday. Riley Exploration Permian, Inc. has a 12-month low of $21.98 and a 12-month high of $36.18. 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 stock’s 50 day simple moving average is $27.00 and its 200-day simple moving average is $27.05. The firm has a market cap of $611.40 million, a P/E ratio of 4.93 and a beta of 1.22.

Riley Exploration Permian declared that its Board of Directors has approved a share buyback program on Tuesday, December 16th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to buy up to 18% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Riley Exploration Permian Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Thursday, January 22nd were given a dividend of $0.40 per share. The ex-dividend date was Thursday, January 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 5.7%. Riley Exploration Permian’s dividend payout ratio is presently 39.12%.

Hedge Funds Weigh In On Riley Exploration Permian

Institutional investors have recently made changes to their positions in the stock. Quarry LP purchased a new stake in shares of Riley Exploration Permian in the third quarter valued at $46,000. Advisory Services Network LLC acquired a new position in Riley Exploration Permian in the 3rd quarter valued at $65,000. Parkwood LLC acquired a new position in Riley Exploration Permian in the third quarter valued at $68,000. State of Alaska Department of Revenue lifted its holdings in shares of Riley Exploration Permian by 346.3% during the 4th quarter. State of Alaska Department of Revenue now owns 3,579 shares of the company’s stock worth $94,000 after acquiring an additional 2,777 shares during the period. Finally, Osaic Holdings Inc. boosted its position in shares of Riley Exploration Permian by 442.4% in the second quarter. Osaic Holdings Inc. now owns 4,231 shares of the company’s stock worth $111,000 after acquiring an additional 3,451 shares during the last quarter. 58.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. William Blair began coverage on Riley Exploration Permian in a report on Friday, November 21st. They set an “outperform” rating on the stock. Zacks Research upgraded shares of Riley Exploration Permian from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 15th. Two research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Strong Buy” and an average target price of $36.00.

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.