Riley Exploration Permian (NYSE:REPX) Stock Price Down 4% – Time to Sell?

Riley Exploration Permian, Inc. (NYSE:REPX)’s stock price fell 4% during trading on Monday . The company traded as low as $41.87 and last traded at $41.8840. 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.

Analyst Ratings Changes

Several equities analysts recently commented on REPX shares. Zacks Research lowered Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Truist Financial decreased their target price 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. Finally, Roth Capital reaffirmed a “buy” rating and issued a $45.00 price target on shares of Riley Exploration Permian in a report on Thursday, July 23rd. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Riley Exploration Permian Stock Performance

The firm has a fifty day simple moving average of $37.65 and a 200-day simple moving average of $35.95. 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 company has a market cap of $914.45 million, a PE ratio of 7.33 and a beta of 0.96.

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 paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Wednesday, July 29th. Riley Exploration Permian’s dividend payout ratio (DPR) is currently 28.99%.

Insiders Place Their Bets

In other news, insider Corey Riley sold 3,500 shares of the firm’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 transaction of $123,200.00. Following the transaction, the insider directly owned 210,062 shares in the company, valued at approximately $7,394,182.40. This trade represents a 1.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bobby Riley sold 12,500 shares of Riley Exploration Permian stock in a transaction on Monday, August 10th. The shares were sold at an average price of $35.85, for a total transaction of $448,125.00. Following the completion of the transaction, the chief executive officer directly owned 482,983 shares in the company, valued at $17,314,940.55. The trade was a 2.52% 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 have sold a total of 20,000 shares of company stock valued at $721,765 over the last quarter. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

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

Riley Exploration Permian Company Profile

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.