Insider Selling: Riley Exploration Permian, Inc. (NYSE:REPX) CEO Sells 1,310 Shares of Stock

Riley Exploration Permian, Inc. (NYSE:REPX) CEO Bobby Riley sold 1,310 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $35.17, for a total transaction of $46,072.70. Following the completion of the transaction, the chief executive officer now owns 311,375 shares of the company’s stock, valued at $10,951,058.75. This trade represents a 0.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Bobby Riley also recently made the following trade(s):

• On Tuesday, November 26th, Bobby Riley sold 4,636 shares of Riley Exploration Permian stock. The shares were sold at an average price of $35.19, for a total transaction of $163,140.84.
• On Tuesday, October 1st, Bobby Riley sold 8,981 shares of Riley Exploration Permian stock. The shares were sold at an average price of $26.49, for a total transaction of $237,906.69.
• On Friday, September 27th, Bobby Riley sold 6,302 shares of Riley Exploration Permian stock. The shares were sold at an average price of $26.52, for a total value of $167,129.04.

Riley Exploration Permian Price Performance

Shares of Riley Exploration Permian stock traded down $0.15 during trading hours on Monday, hitting $34.95. The company’s stock had a trading volume of 25,382 shares, compared to its average volume of 124,099. The business has a 50 day moving average price of $29.97 and a two-hundred day moving average price of $28.34. The company has a market cap of $750.83 million, a PE ratio of 6.22 and a beta of 1.34. Riley Exploration Permian, Inc. has a 12-month low of $21.27 and a 12-month high of $37.15. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.64 and a current ratio of 0.70.

Riley Exploration Permian Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Thursday, October 24th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.35%. The ex-dividend date was Thursday, October 24th. This is an increase from Riley Exploration Permian’s previous quarterly dividend of $0.36. Riley Exploration Permian’s payout ratio is 26.95%.

Wall Street Analyst Weigh In

Separately, Truist Financial lifted their price target on Riley Exploration Permian from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th.

Hedge Funds Weigh In On Riley Exploration Permian

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC raised its holdings in shares of Riley Exploration Permian by 1,191.7% during the 2nd quarter. CWM LLC now owns 1,240 shares of the company’s stock worth $35,000 after acquiring an additional 1,144 shares in the last quarter. Summit Global Investments purchased a new stake in shares of Riley Exploration Permian during the 2nd quarter valued at about $252,000. Bank of New York Mellon Corp grew its position in Riley Exploration Permian by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 237,578 shares of the company’s stock worth $6,726,000 after acquiring an additional 16,267 shares in the last quarter. Bailard Inc. increased its stake in Riley Exploration Permian by 56.5% during the second quarter. Bailard Inc. now owns 27,977 shares of the company’s stock worth $792,000 after acquiring an additional 10,100 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Riley Exploration Permian during the second quarter valued at approximately $39,000. Institutional investors own 58.91% of the company’s stock.

About Riley Exploration Permian

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.