70,582 Shares in Riley Exploration Permian, Inc. $REPX Bought by Empowered Funds LLC

Empowered Funds LLC bought a new stake in Riley Exploration Permian, Inc. (NYSE:REPX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 70,582 shares of the company’s stock, valued at approximately $2,326,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Riley Exploration Permian during the 2nd quarter worth about $40,302,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Riley Exploration Permian by 572.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 608,833 shares of the company’s stock worth $22,192,000 after acquiring an additional 518,340 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Riley Exploration Permian in the 2nd quarter valued at about $8,021,000. Denali Advisors LLC increased its holdings in shares of Riley Exploration Permian by 1,524.2% in the 2nd quarter. Denali Advisors LLC now owns 228,051 shares of the company’s stock valued at $7,517,000 after acquiring an additional 214,010 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Riley Exploration Permian by 608.2% during the 1st quarter. Bank of America Corp DE now owns 196,032 shares of the company’s stock worth $7,145,000 after acquiring an additional 168,352 shares in the last quarter. 58.91% of the stock is currently owned by institutional investors and hedge funds.

Riley Exploration Permian Price Performance

Shares of REPX opened at $41.22 on Thursday. Riley Exploration Permian, Inc. has a 1-year low of $24.08 and a 1-year high of $41.60. The stock has a market cap of $913.19 million, a PE ratio of 7.31 and a beta of 0.96. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.70 and a quick ratio of 0.64. The firm has a fifty day moving average price of $35.21 and a 200 day moving average price of $34.68.

Riley Exploration Permian Dividend Announcement

The company 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. The ex-dividend date was Wednesday, July 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.9%. Riley Exploration Permian’s payout ratio is 28.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on REPX shares. Zacks Research cut Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Roth Capital reiterated a “buy” rating and issued a $45.00 price target on shares of Riley Exploration Permian in a research note on Thursday, July 23rd. Finally, Truist Financial cut their price objective on shares of Riley Exploration Permian from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Insider Transactions at Riley Exploration Permian

In other news, CEO Bobby Riley sold 12,500 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $35.85, for a total value of $448,125.00. Following the completion of the sale, the chief executive officer directly owned 482,983 shares of the company’s stock, valued at approximately $17,314,940.55. The trade was a 2.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $35.20, for a total value of $123,200.00. Following the completion of the sale, the insider directly owned 210,062 shares of the company’s stock, valued at approximately $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. Over the last 90 days, insiders have sold 20,000 shares of company stock worth $721,765. Corporate insiders own 4.20% of the company’s stock.

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.