Key Points
- Bobby Riley, CEO of Riley Exploration Permian, sold 12,500 shares on Feb. 10 at an average price of $27.79 for $347,375, reducing his direct stake by 3.58% to 336,931 shares valued at about $9.36 million.
- The company’s board has authorized a $100 million share buyback program (up to ~18% of shares) and recently paid a quarterly dividend of $0.40 (annualized $1.60, ~5.7% yield).
- Riley Exploration Permian has a market cap of ~$611.4M and a low P/E of 4.93; Wall Street consensus is positive with an average rating of "Strong Buy" and a $36 average price target.
Riley Exploration Permian, Inc. (NYSE:REPX - Get Free Report) CEO Bobby Riley sold 12,500 shares of the business's stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $27.79, for a total transaction of $347,375.00. Following the sale, the chief executive officer directly owned 336,931 shares of the company's stock, valued at $9,363,312.49. This represents a 3.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Bobby Riley also recently made the following trade(s):
- On Friday, December 19th, Bobby Riley sold 20,000 shares of Riley Exploration Permian stock. The stock was sold at an average price of $25.91, for a total value of $518,200.00.
Riley Exploration Permian Price Performance
Shares of Riley Exploration Permian stock opened at $27.83 on Thursday. The business's fifty day moving average price is $27.00 and its 200 day moving average price is $27.05. Riley Exploration Permian, Inc. has a twelve month low of $21.98 and a twelve month high of $36.18. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $611.40 million, a P/E ratio of 4.93 and a beta of 1.22.
Riley Exploration Permian announced that its Board of Directors has initiated a share buyback program on Tuesday, December 16th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to buy up to 18% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.
Riley Exploration Permian Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Thursday, January 22nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend was Thursday, January 22nd. Riley Exploration Permian's payout ratio is currently 39.12%.
Institutional Investors Weigh In On Riley Exploration Permian
Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in shares of Riley Exploration Permian by 14.9% during the second quarter. Geode Capital Management LLC now owns 319,695 shares of the company's stock valued at $8,386,000 after purchasing an additional 41,574 shares during the period. TrueMark Investments LLC purchased a new position in shares of Riley Exploration Permian in the third quarter valued at $3,027,000. American Century Companies Inc. grew its holdings in Riley Exploration Permian by 9.7% during the 2nd quarter. American Century Companies Inc. now owns 531,648 shares of the company's stock valued at $13,945,000 after purchasing an additional 47,034 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Riley Exploration Permian by 83.5% during the 2nd quarter. Mackenzie Financial Corp now owns 121,731 shares of the company's stock valued at $3,193,000 after purchasing an additional 55,400 shares in the last quarter. Finally, LSV Asset Management increased its stake in Riley Exploration Permian by 116.0% during the 2nd quarter. LSV Asset Management now owns 54,200 shares of the company's stock worth $1,422,000 after buying an additional 29,105 shares during the period. 58.91% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on REPX shares. William Blair initiated coverage on shares of Riley Exploration Permian in a report on Friday, November 21st. They issued an "outperform" rating on the stock. Zacks Research raised shares of Riley Exploration Permian from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 15th. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to MarketBeat, Riley Exploration Permian has an average rating of "Strong Buy" and an average price target of $36.00.
View Our Latest Stock Analysis on REPX
Riley Exploration Permian Company Profile
(
Get Free Report)
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.
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