Key Points
- Insider sale: Director Corey Neil Riley sold 3,500 shares on Nov. 7 at an average price of $24.87 for $87,045, trimming his stake by 2.11% to 162,065 shares (≈$4.03M).
- Dividend increase: Riley Exploration Permian raised its quarterly dividend to $0.40 (from $0.38), equal to a $1.60 annualized payout and a yield of about 6.4% with a 39.1% payout ratio.
- Valuation and analyst view: The stock trades with a market cap of $545.7M and a PE of 4.4, and MarketBeat shows a consensus rating of "Moderate Buy" with an average target of $41.50.
Riley Exploration Permian, Inc. (NYSE:REPX - Get Free Report) insider Corey Neil Riley sold 3,500 shares of the firm's stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $24.87, for a total value of $87,045.00. Following the transaction, the insider owned 162,065 shares in the company, valued at approximately $4,030,556.55. This trade represents a 2.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Riley Exploration Permian Stock Performance
Shares of REPX stock opened at $24.84 on Tuesday. The stock has a market cap of $545.71 million, a PE ratio of 4.40 and a beta of 1.20. The stock has a 50-day moving average of $27.14 and a 200-day moving average of $26.99. 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, Inc. has a one year low of $21.98 and a one year high of $37.55.
Riley Exploration Permian Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, November 6th. Shareholders of record on Tuesday, October 21st were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, October 21st. This is a boost from Riley Exploration Permian's previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a yield of 6.4%. Riley Exploration Permian's payout ratio is currently 39.12%.
Institutional Investors Weigh In On Riley Exploration Permian
A number of hedge funds and other institutional investors have recently made changes to their positions in REPX. DekaBank Deutsche Girozentrale lifted its position in Riley Exploration Permian by 68.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,150 shares of the company's stock valued at $61,000 after acquiring an additional 874 shares in the last quarter. State of Wyoming acquired a new stake in shares of Riley Exploration Permian in the 1st quarter valued at about $102,000. CWM LLC boosted its position in shares of Riley Exploration Permian by 13.0% during the first quarter. CWM LLC now owns 4,221 shares of the company's stock worth $123,000 after buying an additional 486 shares during the period. Osaic Holdings Inc. boosted its position in shares of Riley Exploration Permian by 442.4% during the second quarter. Osaic Holdings Inc. now owns 4,231 shares of the company's stock worth $111,000 after buying an additional 3,451 shares during the period. Finally, Quantbot Technologies LP grew its holdings in shares of Riley Exploration Permian by 41.7% during the first quarter. Quantbot Technologies LP now owns 4,890 shares of the company's stock worth $143,000 after buying an additional 1,439 shares in the last quarter. 58.91% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the stock. Roth Capital started coverage on shares of Riley Exploration Permian in a report on Monday, October 13th. They issued a "buy" rating and a $36.00 price target for the company. Zacks Research upgraded Riley Exploration Permian to a "strong sell" rating in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $41.50.
View Our Latest Analysis on REPX
About Riley Exploration Permian
(
Get Free Report)
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.
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