Corey Neil Riley Sells 3,500 Shares of Riley Exploration Permian (NYSE:REPX) Stock

by · The Cerbat Gem

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 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 sale, the insider owned 148,472 shares in the company, valued at approximately $5,102,982.64. This trade represents a 2.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 stock was 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 REPX traded up $1.59 during trading hours on Tuesday, hitting $36.35. The company had a trading volume of 482,750 shares, compared to its average volume of 373,165. Riley Exploration Permian, Inc. has a 52-week low of $24.08 and a 52-week high of $41.26. 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 stock’s 50 day moving average price is $34.95 and its 200 day moving average price is $29.70. The firm has a market cap of $788.65 million, a P/E ratio of 6.45 and a beta of 0.93.

Riley Exploration Permian Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 13th. Stockholders of record on Wednesday, April 29th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Wednesday, April 29th. Riley Exploration Permian’s dividend payout ratio (DPR) is presently 56.14%.

Hedge Funds Weigh In On Riley Exploration Permian

Several large investors have recently added to or reduced their stakes in REPX. Dynamic Technology Lab Private Ltd purchased a new position in shares of Riley Exploration Permian during the 1st quarter valued at $249,000. Empowered Funds LLC raised its holdings in Riley Exploration Permian by 1.8% during the first quarter. Empowered Funds LLC now owns 31,549 shares of the company’s stock valued at $920,000 after acquiring an additional 562 shares during the period. Jane Street Group LLC purchased a new position in shares of Riley Exploration Permian in the first quarter valued at about $431,000. JPMorgan Chase & Co. boosted its stake in shares of Riley Exploration Permian by 27.1% in the second quarter. JPMorgan Chase & Co. now owns 7,438 shares of the company’s stock worth $195,000 after acquiring an additional 1,586 shares during the period. Finally, Rhumbline Advisers raised its stake in Riley Exploration Permian by 17.2% during the 2nd quarter. Rhumbline Advisers now owns 19,052 shares of the company’s stock valued at $500,000 after purchasing an additional 2,802 shares during the period. Hedge funds and other institutional investors own 58.91% of the company’s stock.

Analyst Upgrades and Downgrades

REPX has been the topic of several research reports. Roth Mkm reissued 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 report on Wednesday, April 8th. William Blair reissued an “outperform” rating on shares of Riley Exploration Permian in a research report on Thursday, March 5th. Finally, Truist Financial began coverage on Riley Exploration Permian in a research note on Tuesday, March 24th. They issued a “buy” rating and a $47.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Strong Buy” and an average target price of $41.50.

Check Out 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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