Y Intercept Hong Kong Ltd Acquires Shares of 17,270 Riley Exploration Permian, Inc. $REPX

Y Intercept Hong Kong Ltd bought a new stake in Riley Exploration Permian, Inc. (NYSE:REPX) during the 1st quarter, HoldingsChannel reports. The fund bought 17,270 shares of the company’s stock, valued at approximately $629,000.

Other large investors have also modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of Riley Exploration Permian during the 1st quarter worth approximately $249,000. Empowered Funds LLC lifted its position in shares of Riley Exploration Permian by 1.8% during the first quarter. Empowered Funds LLC now owns 31,549 shares of the company’s stock worth $920,000 after purchasing an additional 562 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Riley Exploration Permian during the first quarter valued at $431,000. JPMorgan Chase & Co. grew its holdings in shares of Riley Exploration Permian by 27.1% in the second quarter. JPMorgan Chase & Co. now owns 7,438 shares of the company’s stock worth $195,000 after purchasing an additional 1,586 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Riley Exploration Permian by 17.2% in the 2nd 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 period. Hedge funds and other institutional investors own 58.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on REPX. Zacks Research downgraded shares of Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Roth Capital reaffirmed a “buy” rating on shares of Riley Exploration Permian in a research report on Thursday, April 30th. Finally, Truist Financial assumed coverage on Riley Exploration Permian in a report on Tuesday, March 24th. They issued a “buy” rating and a $47.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $41.50.

Insiders Place Their Bets

In other Riley Exploration Permian news, insider Corey Neil Riley sold 3,500 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $34.37, for a total transaction of $120,295.00. Following the sale, the insider owned 148,472 shares of the company’s stock, valued at approximately $5,102,982.64. This trade represents a 2.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bobby Riley sold 12,500 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $34.45, for a total value of $430,625.00. Following the completion of the transaction, the chief executive officer directly owned 313,020 shares of the company’s stock, valued at approximately $10,783,539. The trade was a 3.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.20% of the stock is owned by corporate insiders.

Riley Exploration Permian Price Performance

NYSE REPX opened at $34.47 on Tuesday. The company has a market cap of $747.86 million, a PE ratio of 6.11 and a beta of 0.91. The firm’s 50 day moving average price is $34.79 and its 200-day moving average price is $32.37. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.64 and a current ratio of 0.70. Riley Exploration Permian, Inc. has a 52-week low of $24.08 and a 52-week high of $41.53.

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.