Key Points
- CEO Bobby Riley sold 12,500 shares on Nov. 10 at an average price of $25.05 for proceeds of $313,125, trimming his stake by 3.27% to 369,431 shares (valued ~ $9.25M).
- Riley Exploration Permian increased its quarterly dividend to $0.40 (annualized $1.60), implying a ~6.2% yield with a payout ratio of about 39%.
- The stock trades near $25.92 with a market cap of ~$569M and a low PE of 4.6; analysts have a consensus "Moderate Buy" and a $41.50 target.
Riley Exploration Permian, Inc. (NYSE:REPX - Get Free Report) CEO Bobby Riley sold 12,500 shares of Riley Exploration Permian stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $25.05, for a total value of $313,125.00. Following the transaction, the chief executive officer directly owned 369,431 shares of the company's stock, valued at $9,254,246.55. The trade was a 3.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Riley Exploration Permian Trading Down 1.7%
Shares of REPX opened at $25.92 on Thursday. Riley Exploration Permian, Inc. has a twelve month low of $21.98 and a twelve month high of $37.55. The stock has a market cap of $569.44 million, a PE ratio of 4.60 and a beta of 1.20. 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 business's 50-day moving average price is $27.01 and its 200-day moving average price is $26.99.
Riley Exploration Permian Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, November 6th. Investors of record on Tuesday, October 21st were issued a dividend of $0.40 per share. This is a boost from Riley Exploration Permian's previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Tuesday, October 21st. This represents a $1.60 dividend on an annualized basis and a yield of 6.2%. Riley Exploration Permian's payout ratio is currently 39.12%.
Institutional Investors Weigh In On Riley Exploration Permian
Several hedge funds have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale increased its holdings in shares of Riley Exploration Permian by 68.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,150 shares of the company's stock worth $61,000 after buying an additional 874 shares during the last quarter. CWM LLC lifted its holdings in shares of Riley Exploration Permian by 13.0% during the 1st quarter. CWM LLC now owns 4,221 shares of the company's stock worth $123,000 after acquiring an additional 486 shares during the last quarter. Victory Capital Management Inc. grew its position in Riley Exploration Permian by 4.9% in the first quarter. Victory Capital Management Inc. now owns 45,122 shares of the company's stock worth $1,316,000 after acquiring an additional 2,111 shares in the last quarter. Segall Bryant & Hamill LLC grew its position in Riley Exploration Permian by 16.4% in the first quarter. Segall Bryant & Hamill LLC now owns 70,187 shares of the company's stock worth $2,047,000 after acquiring an additional 9,864 shares in the last quarter. Finally, Bailard Inc. bought a new position in Riley Exploration Permian in the first quarter valued at $249,000. 58.91% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Roth Capital assumed 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 research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $41.50.
View Our Latest Stock Analysis on Riley Exploration Permian
Riley Exploration Permian Company Profile
(
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.
Further Reading
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