Riley Exploration Permian (NYSE:REPX) Shares Down 4.7% – Time to Sell?

Riley Exploration Permian, Inc. (NYSE:REPX)’s stock price was down 4.7% during mid-day trading on Thursday . The stock traded as low as $32.00 and last traded at $32.18. Approximately 49,860 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 123,581 shares. The stock had previously closed at $33.78.

Analyst Ratings Changes

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

Riley Exploration Permian Price Performance

The company has a 50 day moving average of $30.40 and a two-hundred day moving average of $28.50. The firm has a market cap of $694.23 million, a P/E ratio of 5.99 and a beta of 1.42. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.53.

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 dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.70%. This is an increase from Riley Exploration Permian’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, October 24th. Riley Exploration Permian’s dividend payout ratio is currently 26.95%.

Insider Activity

In related news, CEO Bobby Riley sold 6,302 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $26.52, for a total value of $167,129.04. Following the completion of the sale, the chief executive officer now directly owns 335,356 shares of the company’s stock, valued at approximately $8,893,641.12. This represents a 1.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 21,229 shares of company stock valued at $614,249 over the last three months. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. CWM LLC increased its position in Riley Exploration Permian by 1,191.7% in the 2nd quarter. CWM LLC now owns 1,240 shares of the company’s stock worth $35,000 after purchasing an additional 1,144 shares during the last quarter. Ariadne Wealth Management LP acquired a new position in Riley Exploration Permian in the 2nd quarter worth about $36,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Riley Exploration Permian in the 2nd quarter worth about $39,000. Copeland Capital Management LLC acquired a new position in shares of Riley Exploration Permian during the 3rd quarter valued at about $48,000. Finally, Point72 DIFC Ltd acquired a new position in shares of Riley Exploration Permian during the 2nd quarter valued at about $51,000. 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.