Riley Exploration Permian (NYSE:REPX) Shares Down 2.2%

Shares of Riley Exploration Permian, Inc. (NYSE:REPX) dropped 2.2% during trading on Tuesday . The stock traded as low as $26.12 and last traded at $26.12. Approximately 4,311 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 139,139 shares. The stock had previously closed at $26.70.

Wall Street Analysts Forecast Growth

Separately, Truist Financial dropped their price objective on shares of Riley Exploration Permian from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, July 22nd.

Riley Exploration Permian Stock Up 1.7 %

The stock has a market capitalization of $579.53 million, a price-to-earnings ratio of 5.47 and a beta of 1.36. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.63 and a quick ratio of 0.58. The firm’s fifty day moving average is $27.77 and its 200-day moving average is $27.05.

Riley Exploration Permian Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, July 25th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.35%. The ex-dividend date of this dividend was Thursday, July 25th. Riley Exploration Permian’s dividend payout ratio is currently 29.27%.

Insiders Place Their Bets

In other news, CEO Bobby Riley sold 10,020 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $26.57, for a total transaction of $266,231.40. Following the completion of the transaction, the chief executive officer now directly owns 381,658 shares of the company’s stock, valued at $10,140,653.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Bobby Riley sold 10,020 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $26.57, for a total value of $266,231.40. Following the completion of the transaction, the chief executive officer now owns 381,658 shares in the company, valued at approximately $10,140,653.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Corey Neil Riley sold 2,500 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $26.61, for a total transaction of $66,525.00. Following the transaction, the insider now directly owns 146,837 shares in the company, valued at approximately $3,907,332.57. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,520 shares of company stock valued at $752,756. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Riley Exploration Permian

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Jackson Hole Capital Partners LLC raised its holdings in shares of Riley Exploration Permian by 17.4% during the fourth quarter. Jackson Hole Capital Partners LLC now owns 449,925 shares of the company’s stock valued at $12,256,000 after acquiring an additional 66,621 shares during the period. First Eagle Investment Management LLC raised its stake in Riley Exploration Permian by 42.8% during the 2nd quarter. First Eagle Investment Management LLC now owns 252,214 shares of the company’s stock valued at $7,140,000 after purchasing an additional 75,650 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of 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 valued at $6,726,000 after purchasing an additional 16,267 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Riley Exploration Permian by 65.0% during the second quarter. American Century Companies Inc. now owns 167,972 shares of the company’s stock valued at $4,755,000 after buying an additional 66,179 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Riley Exploration Permian by 95.5% during the 2nd quarter. Renaissance Technologies LLC now owns 139,000 shares of the company’s stock valued at $3,935,000 after acquiring an additional 67,900 shares in the last quarter. 58.91% of the stock is owned by institutional investors and hedge funds.

Riley Exploration Permian Company Profile

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.