Riley Permian stockholders approve board and auditors

Riley Exploration Permian, Inc. (NYSE American:REPX), a player in the crude petroleum and natural gas industry with a market capitalization of $620 million, conducted its annual meeting of stockholders on Thursday, May 9, 2025, where several key proposals were voted upon. The Oklahoma City-based company, which operates under Delaware’s jurisdiction and maintains a robust 75% gross profit margin, reported the outcomes of the votes in a recent SEC filing. According to InvestingPro analysis, REPX currently trades below its Fair Value, presenting a potential opportunity for investors interested in energy stocks.

During the annual meeting, stockholders elected all six nominated directors to serve one-year terms until the next annual meeting in 2026. The directors re-elected include Brent Arriaga, Rebecca L. Bayless, Beth A. di Santo, Bryan H. Lawrence, E. Wayne Nordberg, and Bobby D. Riley. The results showed a significant majority in favor, with the number of votes withheld and broker non-votes also reported. The company has demonstrated strong shareholder returns, maintaining a notable 5.75% dividend yield and raising its dividend for four consecutive years.

Additionally, the appointment of BDO USA, P.C. as the independent registered public accounting firm for 2025 was ratified by the stockholders. The vote displayed strong support for the firm’s continuation as the company’s auditors. The company’s financial health has earned a "GREAT" rating from InvestingPro, which offers comprehensive analysis and additional insights through its Pro Research Report, available for over 1,400 US stocks.

Another key proposal, advisory approval of the frequency of future advisory votes to approve the compensation of Riley Permian’s Named Executive Officers, was also passed. The stockholders agreed to hold these advisory votes every year, as opposed to every two or three years. This "say-on-frequency" proposal will influence the regularity of future votes regarding executive compensation.

The SEC filing also included the company’s commitment to holding an advisory vote on the compensation of its Named Executive Officers annually until the next required say-on-frequency vote, which must occur at least once every six years.

The information for this article is based on a press release statement.

In other recent news, Riley Exploration Permian Inc. reported its first-quarter 2025 earnings with an earnings per share (EPS) of $1.62, slightly above the forecast of $1.60. However, the company’s revenue for the quarter was $102.46 million, which fell short of the expected $104.26 million. Despite the revenue miss, Riley Exploration Permian remains focused on strategic acquisitions and operational efficiencies, as evidenced by its acquisition of Silverback Exploration and New Mexico assets. This acquisition is expected to enhance the company’s borrowing base and support future growth initiatives. Additionally, Riley Exploration Permian has strategically reduced debt by $21 million, lowering its leverage to 0.9 times. In terms of analyst perspectives, the company has been noted for its effective cost management and operational efficiency. The acquisition of Silverback Exploration is seen as a move to bolster Riley Exploration Permian’s long-term upstream development potential. Furthermore, the company has hedged a significant portion of its future production volumes to manage market volatility.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.