Dimensional Fund Advisors LP Boosts Stock Position in Riley Exploration Permian, Inc. $REPX

Key Points

• Dimensional Fund Advisors increased its Riley Exploration Permian stake by 15.1% in the first quarter, bringing its holdings to 616,564 shares worth approximately $22.5 million. Institutional investors collectively own 58.91% of REPX.
• Riley Exploration Permian announced a quarterly dividend of $0.40 per share, equivalent to a $1.60 annualized payout and a 4.7% yield. The dividend is payable August 12 to shareholders of record on July 29.
• Analyst sentiment remains positive overall, with an average “Buy” rating and a $46 price target, although Zacks Research downgraded the stock to “Hold.” REPX recently traded near $34, while company insiders sold shares under pre-arranged Rule 10b5-1 plans.

Dimensional Fund Advisors LP boosted its position in Riley Exploration Permian, Inc. (NYSE:REPX - Free Report) by 15.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 616,564 shares of the company's stock after purchasing an additional 80,770 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.86% of Riley Exploration Permian worth $22,474,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Bank of America Corp DE boosted its holdings in shares of Riley Exploration Permian by 5.4% in the 2nd quarter. Bank of America Corp DE now owns 7,806 shares of the company's stock valued at $205,000 after buying an additional 402 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Riley Exploration Permian by 6.1% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,188 shares of the company's stock worth $189,000 after acquiring an additional 411 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of 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 acquiring an additional 516 shares in the last quarter. Empowered Funds LLC lifted its position in Riley Exploration Permian by 1.8% during the first quarter. Empowered Funds LLC now owns 31,549 shares of the company's stock valued at $920,000 after acquiring an additional 562 shares during the last quarter. Finally, State of Wyoming lifted its position in Riley Exploration Permian by 12.8% during the fourth quarter. State of Wyoming now owns 5,011 shares of the company's stock valued at $132,000 after acquiring an additional 567 shares during the last quarter. 58.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Riley Exploration Permian

In other news, insider Corey Neil Riley sold 3,500 shares of Riley Exploration Permian stock in a transaction on Monday, May 11th. The shares were sold at an average price of $34.37, for a total transaction of $120,295.00. Following the completion of the sale, the insider directly owned 148,472 shares in the company, valued at approximately $5,102,982.64. The trade was a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 shares were sold at an average price of $34.45, for a total transaction of $430,625.00. Following the sale, the chief executive officer directly owned 313,020 shares in the company, valued at $10,783,539. This trade represents a 3.84% 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 insiders.

Riley Exploration Permian Price Performance

Shares of NYSE REPX opened at $34.07 on Friday. Riley Exploration Permian, Inc. has a fifty-two week low of $24.08 and a fifty-two week high of $41.53. The company has a market cap of $739.18 million, a PE ratio of 6.04 and a beta of 0.93. 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 business has a 50-day simple moving average of $34.04 and a two-hundred day simple moving average of $33.39.

Riley Exploration Permian Dividend Announcement

The business also recently announced 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. This represents a $1.60 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Wednesday, July 29th. Riley Exploration Permian's payout ratio is currently 56.14%.

Analysts Set New Price Targets

REPX has been the subject of several recent analyst reports. 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 and set a $45.00 price target on shares of Riley Exploration Permian in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Riley Exploration Permian currently has an average rating of "Buy" and an average price target of $46.00.

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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