28,566 Shares in Riley Exploration Permian, Inc. $REPX Bought by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP initiated a 28,566-share position in Riley Exploration Permian worth approximately $942,000, while institutional investors collectively owned 58.91% of the company.
• Analyst sentiment remains favorable, with three Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $43.00.
• REPX shares opened at $37.44, with a market value of approximately $829.5 million. The company pays a quarterly dividend of $0.40 per share, equivalent to a 4.3% annualized yield.

Quantbot Technologies LP purchased a new stake in Riley Exploration Permian, Inc. (NYSE:REPX - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 28,566 shares of the company's stock, valued at approximately $942,000. Quantbot Technologies LP owned about 0.13% of Riley Exploration Permian at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bank of America Corp DE increased its position in shares of Riley Exploration Permian by 5.4% during the second quarter. Bank of America Corp DE now owns 7,806 shares of the company's stock worth $205,000 after purchasing an additional 402 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Riley Exploration Permian by 6.1% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,188 shares of the company's stock valued at $189,000 after purchasing an additional 411 shares during the period. North Star Investment Management Corp. grew its stake in Riley Exploration Permian by 1.3% during the 2nd quarter. North Star Investment Management Corp. now owns 36,273 shares of the company's stock worth $1,196,000 after buying an additional 473 shares during the last quarter. MetLife Investment Management LLC grew its stake in Riley Exploration Permian by 6.5% during the 4th quarter. MetLife Investment Management LLC now owns 8,410 shares of the company's stock worth $222,000 after buying an additional 516 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in Riley Exploration Permian by 1.8% during the 1st quarter. Empowered Funds LLC now owns 31,549 shares of the company's stock worth $920,000 after buying an additional 562 shares during the last quarter. Institutional investors and hedge funds own 58.91% of the company's stock.

Insider Transactions at Riley Exploration Permian

In related news, insider Corey Neil Riley sold 3,500 shares of the firm'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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Philip A. Riley sold 4,000 shares of Riley Exploration Permian stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $37.61, for a total value of $150,440.00. Following the completion of the sale, the chief financial officer directly owned 235,503 shares in the company, valued at $8,857,267.83. This represents a 1.67% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 20,000 shares of company stock worth $721,765. Company insiders own 4.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on REPX. Roth Capital reissued a "buy" rating and issued a $45.00 price objective on shares of Riley Exploration Permian in a report on Thursday, July 23rd. Zacks Research downgraded shares of Riley Exploration Permian from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. Finally, Truist Financial decreased their price target 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, August 12th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Riley Exploration Permian has an average rating of "Moderate Buy" and a consensus target price of $43.00.

Riley Exploration Permian Price Performance

Riley Exploration Permian stock opened at $37.44 on Thursday. 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 business has a 50 day simple moving average of $34.59 and a 200-day simple moving average of $34.28. Riley Exploration Permian, Inc. has a 12 month low of $24.08 and a 12 month high of $41.53. The stock has a market capitalization of $829.45 million, a PE ratio of 6.64 and a beta of 0.93.

Riley Exploration Permian Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders 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 yield of 4.3%. Riley Exploration Permian's dividend payout ratio is presently 28.99%.

Riley Exploration Permian Company 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.

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