Arrowstreet Capital Limited Partnership Has $22.19 Million Stock Holdings in Riley Exploration Permian, Inc. $REPX

Key Points

• Arrowstreet Capital increased its Riley Exploration Permian stake by 572.8% in the first quarter, acquiring 518,340 additional shares for a total position worth approximately $22.19 million. Institutional investors now own 58.91% of REPX.
• Analysts maintain a generally positive outlook, with a consensus “Buy” rating and a $46 price target versus the stock’s recent $33.56 price. Roth Capital reiterated its Buy rating with a $45 target, while Zacks downgraded the shares to Hold.
• Riley Exploration Permian declared a quarterly dividend of $0.40 per share, equivalent to a 4.8% annualized yield. Two insiders also sold shares under pre-arranged Rule 10b5-1 trading plans, while insiders retain a 4.20% ownership stake.

Arrowstreet Capital Limited Partnership increased its position in shares of Riley Exploration Permian, Inc. (NYSE:REPX - Free Report) by 572.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 608,833 shares of the company's stock after acquiring an additional 518,340 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 2.81% of Riley Exploration Permian worth $22,192,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd acquired a new stake in Riley Exploration Permian during the 4th quarter worth approximately $27,000. Royal Bank of Canada increased its holdings in Riley Exploration Permian by 210.9% during the 4th quarter. Royal Bank of Canada now owns 1,138 shares of the company's stock worth $31,000 after purchasing an additional 772 shares in the last quarter. Quarry LP acquired a new stake in shares of Riley Exploration Permian in the 3rd quarter valued at about $46,000. Advisory Services Network LLC acquired a new stake in shares of Riley Exploration Permian in the 3rd quarter valued at about $65,000. Finally, Parkwood LLC bought a new stake in shares of Riley Exploration Permian in the third quarter valued at about $68,000. 58.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Roth Capital reaffirmed a "buy" rating and set a $45.00 price objective on shares of Riley Exploration Permian in a research report on Thursday, July 23rd. Zacks Research downgraded Riley Exploration Permian from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $46.00.

Riley Exploration Permian Price Performance

NYSE:REPX opened at $33.56 on Thursday. Riley Exploration Permian, Inc. has a 52-week low of $24.08 and a 52-week high of $41.53. The company has a market cap of $728.12 million, a P/E ratio of 5.95 and a beta of 0.91. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.64 and a current ratio of 0.70. The stock's 50-day simple moving average is $34.41 and its 200 day simple moving average is $33.12.

Riley Exploration Permian Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, July 29th. This represents a $1.60 annualized dividend and a dividend yield of 4.8%. Riley Exploration Permian's payout ratio is 56.14%.

Insider Transactions at Riley Exploration Permian

In other news, CEO Bobby Riley sold 12,500 shares of Riley Exploration Permian stock in a transaction dated Monday, May 11th. The shares were 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 owned 313,020 shares of the company's stock, valued at $10,783,539. This trade represents a 3.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 Riley Exploration Permian stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $34.37, for a total value of $120,295.00. Following the transaction, the insider owned 148,472 shares of the company's stock, valued at $5,102,982.64. This represents a 2.30% 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. Company 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.

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