In a recent transaction on April 4th, an insider at Riley Exploration Permian, Inc. (NYSE:REPX), significantly increased their stake in the company. The insider, associated with Balmon Investments Ltd., which is wholly owned by Alvin Gerald Libin, purchased 75,000 shares of common stock at a price of $27.00 per share, totaling approximately $2.03 million.
This purchase has raised the insider's direct holdings to 2,194,921 shares of Riley Exploration Permian, Inc. It is important to note that these shares are indirectly beneficially owned by Alvin Gerald Libin, as detailed in the footnotes of the filing.
Investors often monitor insider transactions as they can provide insights into the confidence levels of those with in-depth knowledge of the company. While the reasons for insider purchases can vary, they are typically seen as a positive sign when insiders increase their holdings in the company they manage.
Riley Exploration Permian, Inc., based in Oklahoma City, operates in the crude petroleum and natural gas industry. The company, which was formerly known as Tengasco Inc., is incorporated in Delaware and has a fiscal year ending on December 31.
The recent insider transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission, with the signature of Mark MacInnes, Authorized Signatory, dated April 8th. The filing provides transparency into the trading activities of the company's insiders, offering investors an additional layer of information when evaluating their investments.
InvestingPro Insights
Amidst the insider trading activity at Riley Exploration Permian, Inc. (NYSE:REPX), the company's financial health and stock performance metrics provide a broader context for investors. According to real-time data from InvestingPro, Riley Exploration Permian, Inc. has demonstrated a strong financial performance over the last twelve months as of Q4 2023, with a notable revenue growth of 16.57% and an impressive gross profit margin of 77.35%. Additionally, the company's operating income margin stood at 47.38%, reflecting efficient management and profitability.
InvestingPro Tips suggest a mixed picture for the stock's recent performance. While Riley Exploration Permian, Inc. has raised its dividend for 3 consecutive years, indicating confidence in its financial stability, the stock has taken a significant hit over the last week with a price total return of -15.25%. This could be due to the stock being in overbought territory, as suggested by the Relative Strength Index (RSI). On a positive note, analysts predict the company will be profitable this year, and it has been profitable over the last twelve months.
Investors considering Riley Exploration Permian, Inc. may find the InvestingPro platform an invaluable resource for additional insights. There are currently 5 more InvestingPro Tips available for REPX, which can be accessed at: https://www.investing.com/pro/REPX. For those looking to dive deeper into the company's analytics, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
Key InvestingPro Data metrics for REPX as of Q4 2023 include:
- Price/Earnings (P/E) Ratio: 5.37
- Price/Book (P/B) Ratio: 1.49
- Dividend Yield: 5.04%
These metrics, combined with the insider's recent share purchase, may suggest that those within the company see undervalued potential despite the stock's recent downturn. As always, investors should consider the full range of data and market analyses when making investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.