Quantinno Capital Management LP Buys 15,845 Shares of Riley Exploration Permian, Inc. $REPX

Quantinno Capital Management LP grew its position in Riley Exploration Permian, Inc. (NYSE:REPX) by 104.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,075 shares of the company’s stock after purchasing an additional 15,845 shares during the period. Quantinno Capital Management LP owned about 0.14% of Riley Exploration Permian worth $1,133,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Riley Exploration Permian during the 1st quarter worth about $249,000. Empowered Funds LLC boosted its position in Riley Exploration Permian by 1.8% in the first quarter. Empowered Funds LLC now owns 31,549 shares of the company’s stock valued at $920,000 after buying an additional 562 shares in the last quarter. Jane Street Group LLC acquired a new position in Riley Exploration Permian in the first quarter valued at about $431,000. JPMorgan Chase & Co. grew its stake in Riley Exploration Permian by 27.1% during the second quarter. JPMorgan Chase & Co. now owns 7,438 shares of the company’s stock worth $195,000 after buying an additional 1,586 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in Riley Exploration Permian by 17.2% during the second quarter. Rhumbline Advisers now owns 19,052 shares of the company’s stock worth $500,000 after buying an additional 2,802 shares during the last quarter. Institutional investors own 58.91% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on REPX. Truist Financial cut their target price on shares of Riley Exploration Permian from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Wednesday. Roth Capital reissued a “buy” rating and issued a $45.00 target price on shares of Riley Exploration Permian in a report on Thursday, July 23rd. Finally, Zacks Research lowered Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Insider Buying and Selling

In other news, CEO Bobby Riley sold 12,500 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $35.85, for a total transaction of $448,125.00. Following the sale, the chief executive officer directly owned 482,983 shares of the company’s stock, valued at $17,314,940.55. This represents a 2.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Corey Neil Riley sold 3,500 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $35.20, for a total transaction of $123,200.00. Following the sale, the insider directly owned 210,062 shares in the company, valued at $7,394,182.40. This trade represents a 1.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.20% of the stock is currently owned by corporate insiders.

Riley Exploration Permian Stock Up 1.8%

Shares of NYSE REPX opened at $36.13 on Friday. Riley Exploration Permian, Inc. has a 12-month low of $24.08 and a 12-month high of $41.53. The firm’s 50-day simple moving average is $34.10 and its 200 day simple moving average is $33.70. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.53. The company has a market cap of $800.42 million, a price-to-earnings ratio of 6.41 and a beta of 0.93.

Riley Exploration Permian Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Wednesday, July 29th. Riley Exploration Permian’s dividend payout ratio is presently 28.99%.

Riley Exploration Permian Profile

Riley Exploration Permian, Inc (NYSE:REPX) is a special purpose acquisition company formed to identify, acquire and operate assets in the oil and natural gas sector, with a dedicated focus on the Permian Basin. Incorporated in Delaware, the company completed its initial public offering on the New York Stock Exchange and is positioned to pursue a business combination with one or more upstream or midstream energy businesses. Riley Exploration Permian’s strategy centers on leveraging the region’s prolific reservoirs and existing infrastructure to drive growth and value for its shareholders.

The company seeks to target exploration and production assets in both the Midland and Delaware sub-basins of West Texas and southeastern New Mexico, where extensive pipeline networks and favorable geologic characteristics support efficient development.