Key Points
- Insider sale: Corey Neil Riley sold 3,500 Riley Exploration Permian shares for $123,200 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 1.64% to 210,062 shares.
- Stock and dividend: REPX opened at $35.91, with a market capitalization of approximately $795.6 million. The company pays a $0.40 quarterly dividend, equivalent to a 4.5% annualized yield.
- Analyst outlook: Analysts maintain a “Moderate Buy” consensus, with three Buy ratings and one Hold rating and an average price target of $43.00, while institutional investors own 58.91% of the shares.
Riley Exploration Permian, Inc. (NYSE:REPX - Get Free Report) insider Corey Neil Riley sold 3,500 shares of the business's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $35.20, for a total transaction of $123,200.00. Following the completion of the sale, the insider owned 210,062 shares in the company, valued at $7,394,182.40. The trade was a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Riley Exploration Permian Stock Down 1.7%
REPX stock opened at $35.91 on Thursday. The firm has a market cap of $795.55 million, a PE ratio of 6.37 and a beta of 0.93. Riley Exploration Permian, Inc. has a 12 month low of $24.08 and a 12 month high of $41.53. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.70 and a quick ratio of 0.64. The firm has a 50 day simple moving average of $34.09 and a 200 day simple moving average of $33.62.
Riley Exploration Permian Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $1.60 annualized dividend and a dividend yield of 4.5%. Riley Exploration Permian's dividend payout ratio (DPR) is currently 28.99%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE raised its holdings in Riley Exploration Permian by 5.4% during the second quarter. Bank of America Corp DE now owns 7,806 shares of the company's stock valued at $205,000 after buying an additional 402 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Riley Exploration Permian by 6.1% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,188 shares of the company's stock worth $189,000 after acquiring an additional 411 shares in the last quarter. North Star Investment Management Corp. raised its stake in shares of Riley Exploration Permian by 1.3% in the 2nd quarter. North Star Investment Management Corp. now owns 36,273 shares of the company's stock valued at $1,196,000 after acquiring an additional 473 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Riley Exploration Permian by 6.5% in the 4th quarter. MetLife Investment Management LLC now owns 8,410 shares of the company's stock valued at $222,000 after acquiring an additional 516 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in Riley Exploration Permian by 1.8% in the 1st quarter. Empowered Funds LLC now owns 31,549 shares of the company's stock worth $920,000 after purchasing an additional 562 shares during the last quarter. Hedge funds and other institutional investors own 58.91% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on REPX shares. Zacks Research lowered Riley Exploration Permian from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. Roth Capital reissued a "buy" rating and issued a $45.00 price target on shares of Riley Exploration Permian in a research note on Thursday, July 23rd. Finally, Truist Financial reduced their price objective on shares of Riley Exploration Permian from $47.00 to $41.00 and set a "buy" rating for the company in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $43.00.
Read Our Latest Research Report 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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