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 Thursday, February 12th. The stock was sold at an average price of $27.41, for a total value of $95,935.00. Following the completion of the transaction, the insider owned 158,565 shares of the company’s stock, valued at $4,346,266.65. This represents a 2.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Riley Exploration Permian Trading Up 3.8%

Riley Exploration Permian stock opened at $27.76 on Friday. Riley Exploration Permian, Inc. has a one year low of $21.98 and a one year high of $36.18. The business’s fifty day moving average is $26.98 and its 200 day moving average is $27.04. The stock has a market capitalization of $609.86 million, a PE ratio of 4.92 and a beta of 1.22. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.70 and a quick ratio of 0.64.

Riley Exploration Permian declared that its Board of Directors has authorized a share buyback plan on Tuesday, December 16th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 18% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Riley Exploration Permian Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors 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 5.8%. Riley Exploration Permian’s dividend payout ratio is 39.12%.

Wall Street Analyst Weigh In

Several equities analysts have 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 raised Riley Exploration Permian from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 15th. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Strong Buy” and an average price target of $36.00.

Institutional Investors Weigh In On Riley Exploration Permian

A number of hedge funds have recently modified their holdings of the business. TrueMark Investments LLC bought a new position in Riley Exploration Permian in the 3rd quarter worth $3,027,000. Cannell & Spears LLC purchased a new stake in Riley Exploration Permian in the third quarter worth about $2,224,000. First Trust Advisors LP raised its stake in shares of Riley Exploration Permian by 172.6% in the fourth quarter. First Trust Advisors LP now owns 126,507 shares of the company’s stock worth $3,340,000 after buying an additional 80,099 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Riley Exploration Permian during the 2nd quarter valued at about $2,033,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of Riley Exploration Permian by 131.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 106,720 shares of the company’s stock valued at $2,817,000 after acquiring an additional 60,661 shares during the period. Institutional investors own 58.91% of the company’s stock.

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.