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CALGARY—In a recent transaction disclosed in an SEC filing, major shareholder Alvin Gerald Libin, through 2624063 Alberta Ltd., purchased 12,000 shares of Riley Exploration Permian, Inc. (NYSE:REPX) on March 31. The shares were acquired at an average price of $29.32, amounting to a total purchase value of $351,840. The company, currently valued at $628 million, trades at an attractive P/E ratio of 6.8x and offers a notable 5.2% dividend yield. According to InvestingPro analysis, REPX is currently trading below its Fair Value.
The transaction increases the total shares owned by 2624063 Alberta Ltd. to 2,206,921. The footnote in the filing clarifies that these shares are owned directly by 2624063 Alberta Ltd., which is wholly owned indirectly by Libin. Previously, the shares were owned by Balmon Investments Ltd., the parent company of 2624063 Alberta Ltd., indicating a change in beneficial ownership. InvestingPro data shows the company has raised its dividend for 4 consecutive years, with a healthy 75% gross profit margin.
This transaction highlights the ongoing investment activities of significant stakeholders in Riley Exploration Permian, a company operating in the crude petroleum and natural gas industry. Unlock 12 additional exclusive InvestingPro Tips and comprehensive analysis through our detailed Pro Research Report, available for over 1,400 US stocks.
In other recent news, Riley Exploration Permian reported its fourth-quarter 2024 earnings, which fell short of expectations. The company posted an earnings per share (EPS) of $0.96, missing the forecasted $1.60, while revenue also came in below expectations at $102.7 million compared to the anticipated $106.26 million. Despite these results, Riley Exploration Permian demonstrated strong operational performance with total production increasing by 22% and oil production rising by 15% over the year. The company has been actively investing in infrastructure and power projects, which are expected to enhance its operational capabilities.
In other developments, Riley Exploration Permian updated its executive compensation plans, aligning them with the company’s performance and shareholder interests. These new arrangements include both short-term and long-term incentive plans for key executives. Additionally, the company has amended employment agreements for its executives, effective April 2025, outlining terms related to salary, benefits, and incentive compensation.
The company also announced plans to increase its drilling and completion capital expenditures by 9% in 2025, focusing on growth and infrastructure projects. Analysts from Truist Securities and Texas Capital have shown interest in the company’s strategic initiatives, particularly in its midstream and power projects. Riley Exploration Permian is positioning itself for future growth, with plans to enhance its competitive position in the industry through strategic investments and operational efficiencies.
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