Philip Riley Sells 4,000 Shares of Riley Exploration Permian (NYSE:REPX) Stock

Riley Exploration Permian, Inc. (NYSE:REPX) CFO Philip Riley sold 4,000 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $37.61, for a total transaction of $150,440.00. Following the completion of the sale, the chief financial officer directly owned 235,503 shares in the company, valued at $8,857,267.83. This trade represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Riley Exploration Permian Stock Up 1.5%

NYSE:REPX opened at $37.97 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.70 and a quick ratio of 0.64. The company’s fifty day moving average price is $34.29 and its 200-day moving average price is $34.02. Riley Exploration Permian, Inc. has a 1-year low of $24.08 and a 1-year high of $41.53. The firm has a market capitalization of $841.19 million, a P/E ratio of 6.73 and a beta of 0.93.

Riley Exploration Permian Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, July 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.2%. Riley Exploration Permian’s dividend payout ratio (DPR) is presently 28.99%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Roth Capital restated a “buy” rating and issued a $45.00 target price on shares of Riley Exploration Permian in a research note on Thursday, July 23rd. Zacks Research downgraded Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Finally, Truist Financial lowered their price objective on Riley Exploration Permian from $47.00 to $41.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd purchased a new position in Riley Exploration Permian in the 1st quarter valued at $249,000. Empowered Funds LLC boosted its stake in Riley Exploration Permian by 1.8% during the 1st quarter. Empowered Funds LLC now owns 31,549 shares of the company’s stock worth $920,000 after purchasing an additional 562 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Riley Exploration Permian during the first quarter worth $431,000. JPMorgan Chase & Co. raised its position in shares of Riley Exploration Permian by 27.1% in the second quarter. JPMorgan Chase & Co. now owns 7,438 shares of the company’s stock valued at $195,000 after buying an additional 1,586 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Riley Exploration Permian by 17.2% in the second quarter. Rhumbline Advisers now owns 19,052 shares of the company’s stock valued at $500,000 after buying an additional 2,802 shares during the last quarter. Institutional investors and hedge funds 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.