Key Points
- CEO Bobby Riley sold 12,500 shares of Riley Exploration Permian at an average price of $34.45, totaling $430,625. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and Riley still owns 313,020 shares.
- The company recently announced a quarterly dividend of $0.40 per share, or $1.60 annualized, which implies a 4.4% yield. The payout ratio stands at 56.14%.
- Wall Street sentiment on REPX remains upbeat, with analysts assigning a consensus “Strong Buy” rating and an average price target of $41.50. Shares last traded at $36.35, below that target but above the stock’s 200-day average.
Riley Exploration Permian, Inc. (NYSE:REPX - Get Free Report) insider Corey Neil Riley sold 3,500 shares of the company's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $34.37, for a total transaction of $120,295.00. Following the completion of the transaction, the insider owned 148,472 shares of the company's stock, valued at approximately $5,102,982.64. The trade was a 2.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Corey Neil Riley also recently made the following trade(s):
- On Thursday, February 12th, Corey Neil Riley sold 3,500 shares of Riley Exploration Permian stock. The shares were sold at an average price of $27.41, for a total transaction of $95,935.00.
Riley Exploration Permian Trading Up 4.6%
Shares of Riley Exploration Permian stock opened at $36.35 on Wednesday. The company has a fifty day simple moving average of $35.10 and a 200-day simple moving average of $29.77. Riley Exploration Permian, Inc. has a 12-month low of $24.08 and a 12-month high of $41.26. 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 cap of $788.65 million, a price-to-earnings ratio of 6.45 and a beta of 0.93.
Riley Exploration Permian Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 13th. Stockholders of record on Wednesday, April 29th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, April 29th. This represents a $1.60 annualized dividend and a dividend yield of 4.4%. Riley Exploration Permian's dividend payout ratio is presently 56.14%.
Institutional Trading of Riley Exploration Permian
Large investors have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd acquired a new stake in Riley Exploration Permian during the 4th quarter worth $27,000. Royal Bank of Canada boosted its stake in Riley Exploration Permian by 210.9% during the 4th quarter. Royal Bank of Canada now owns 1,138 shares of the company's stock worth $31,000 after purchasing an additional 772 shares during the period. Quarry LP acquired a new stake in shares of Riley Exploration Permian in the 3rd quarter worth $46,000. Advisory Services Network LLC acquired a new stake in shares of Riley Exploration Permian in the 3rd quarter worth $65,000. Finally, Parkwood LLC acquired a new stake in shares of Riley Exploration Permian in the 3rd quarter worth $68,000. Institutional investors and hedge funds own 58.91% of the company's stock.
Wall Street Analyst Weigh In
REPX has been the subject of a number of recent research reports. Roth Mkm reiterated a "buy" rating on shares of Riley Exploration Permian in a research note on Thursday, April 30th. Zacks Research upgraded shares of Riley Exploration Permian from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 8th. Truist Financial initiated coverage on shares of Riley Exploration Permian in a research note on Tuesday, March 24th. They set a "buy" rating and a $47.00 price target for the company. Finally, William Blair reiterated an "outperform" rating on shares of Riley Exploration Permian in a research note on Thursday, March 5th. Two research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Strong Buy" and an average price target of $41.50.
Read Our Latest Analysis on Riley Exploration Permian
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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