Insider Buying: Riley Exploration Permian, Inc. (NYSE:REPX) CFO Buys 1,000 Shares of Stock

Riley Exploration Permian, Inc. (NYSE:REPX - Get Free Report) CFO Philip A. Riley acquired 1,000 shares of the stock in a transaction on Friday, April 11th. The shares were purchased at an average price of $23.26 per share, for a total transaction of $23,260.00. Following the transaction, the chief financial officer now directly owns 189,172 shares in the company, valued at approximately $4,400,140.72. This trade represents a 0.53 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Riley Exploration Permian Price Performance

Shares of NYSE REPX traded up $1.16 during mid-day trading on Friday, hitting $25.84. 103,279 shares of the stock traded hands, compared to its average volume of 114,862. The company has a market cap of $555.69 million, a PE ratio of 4.58 and a beta of 1.47. Riley Exploration Permian, Inc. has a twelve month low of $21.98 and a twelve month high of $37.55. 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 $28.97 and a two-hundred day simple moving average of $30.93.

Riley Exploration Permian Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Thursday, April 24th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 5.88%. The ex-dividend date is Thursday, April 24th. Riley Exploration Permian's dividend payout ratio (DPR) is currently 35.68%.

Hedge Funds Weigh In On Riley Exploration Permian

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its position in Riley Exploration Permian by 93.5% during the 1st quarter. GAMMA Investing LLC now owns 929 shares of the company's stock worth $27,000 after purchasing an additional 449 shares during the last quarter. New York State Teachers Retirement System bought a new position in shares of Riley Exploration Permian during the fourth quarter worth about $33,000. Summit Investment Advisors Inc. raised its position in shares of Riley Exploration Permian by 44.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,189 shares of the company's stock worth $38,000 after acquiring an additional 368 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Riley Exploration Permian in the fourth quarter valued at approximately $77,000. Finally, Travelers Companies Inc. bought a new stake in Riley Exploration Permian in the fourth quarter valued at approximately $80,000. Institutional investors and hedge funds own 58.91% of the company's stock.

Analysts Set New Price Targets

Separately, Truist Financial raised their price objective on Riley Exploration Permian from $45.00 to $47.00 and gave the company a "buy" rating in a research note on Monday, January 13th.

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.