Why These Energy Stocks are Losing This Week

6. Riley Exploration Permian, Inc. (NYSEAMERICAN:REPX)

Share Price Decline Between Dec. 17 – Dec. 24: 3.1%

Next on our list of Energy Stocks that Lost This Week is Riley Exploration Permian, Inc. (NYSEAMERICAN:REPX). It is a growth-oriented, independent oil and natural gas company focused on horizontal drilling of conventional oil-saturated and liquids-rich formations in the Permian Basin.

Riley Exploration Permian, Inc. (NYSEAMERICAN:REPX) received a boost on December 16 when its Board of Directors authorized a $100 million share repurchase program, which will run over a 24-month period.

Bobby Riley, Chairman and CEO of Riley Exploration Permian, Inc. (NYSEAMERICAN:REPX), stated:

“We’re excited to introduce a share repurchase program as another means of returning capital to shareholders in addition to our quarterly dividends. With the closing of Riley Permian’s previously-announced midstream sale, we are well-positioned to pursue opportunities to unlock value and maximize shareholder returns. The share repurchase program highlights our confidence in continued excellent operational performance and financial strength.”

However, Riley Exploration Permian, Inc. (NYSEAMERICAN:REPX) slipped after an SEC filing disclosed that the company’s CEO, Bobby Riley, had executed a notable insider transaction on December 18, selling 20,000 shares of the company’s stock at an aggregate market value of $531,600. The timing of the two events indicated that the energy operator’s top leader had possibly taken advantage of the price increase created as a result of the buyback to unwind his personal holdings, shaking investor confidence.