Insider Selling: Riley Exploration Permian, Inc. (NYSE:REPX) CEO Sells 6,302 Shares of Stock

Riley Exploration Permian, Inc. (NYSE:REPX) CEO Bobby Riley sold 6,302 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $26.52, for a total value of $167,129.04. Following the sale, the chief executive officer now directly owns 335,356 shares of the company’s stock, valued at $8,893,641.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Tuesday, October 1st, Bobby Riley sold 8,981 shares of Riley Exploration Permian stock. The stock was sold at an average price of $26.49, for a total transaction of $237,906.69.
• On Thursday, July 11th, Bobby Riley sold 15,000 shares of Riley Exploration Permian stock. The shares were sold at an average price of $28.00, for a total transaction of $420,000.00.

Riley Exploration Permian Trading Up 1.1 %

NYSE:REPX opened at $27.08 on Thursday. The firm has a market capitalization of $584.39 million, a price-to-earnings ratio of 5.50 and a beta of 1.34. Riley Exploration Permian, Inc. has a 1-year low of $21.27 and a 1-year high of $34.90. The business’s 50-day moving average price is $27.01 and its two-hundred day moving average price is $27.82. The company has a current ratio of 0.63, a quick ratio of 0.58 and a debt-to-equity ratio of 0.62.

Riley Exploration Permian (NYSE:REPX) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.13). The firm had revenue of $105.40 million during the quarter, compared to analyst estimates of $106.62 million. Riley Exploration Permian had a net margin of 23.95% and a return on equity of 25.74%. On average, equities analysts expect that Riley Exploration Permian, Inc. will post 6.62 earnings per share for the current year.

Riley Exploration Permian Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, July 25th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, July 25th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.32%. Riley Exploration Permian’s dividend payout ratio is 29.27%.

Analyst Upgrades and Downgrades

Separately, Truist Financial dropped their target price on shares of Riley Exploration Permian from $45.00 to $38.00 and set a “buy” rating for the company in a research report on Monday.

Institutional Trading of Riley Exploration Permian

A number of large investors have recently made changes to their positions in REPX. Mackenzie Financial Corp acquired a new position in Riley Exploration Permian in the second quarter valued at about $4,392,000. AQR Capital Management LLC acquired a new position in shares of Riley Exploration Permian in the 2nd quarter valued at approximately $3,723,000. Marshall Wace LLP bought a new stake in Riley Exploration Permian during the 2nd quarter worth approximately $2,396,000. First Eagle Investment Management LLC raised its holdings in Riley Exploration Permian by 77.2% during the 1st quarter. First Eagle Investment Management LLC now owns 176,564 shares of the company’s stock worth $5,827,000 after buying an additional 76,932 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Riley Exploration Permian by 95.5% in the second quarter. Renaissance Technologies LLC now owns 139,000 shares of the company’s stock valued at $3,935,000 after buying an additional 67,900 shares in the last quarter. Institutional investors own 58.91% of the company’s stock.

About Riley Exploration Permian

Riley Exploration Permian, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in Texas and New Mexico. The company's activities are primarily focused on the Northwest Shelf and Yeso trend of the Permian Basin.