First Trust Advisors LP Buys 67,005 Shares of Riley Exploration Permian, Inc. $REPX

First Trust Advisors LP lifted its position in Riley Exploration Permian, Inc. (NYSE:REPX - Free Report) by 53.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 193,512 shares of the company's stock after buying an additional 67,005 shares during the quarter. First Trust Advisors LP owned approximately 0.89% of Riley Exploration Permian worth $7,054,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in Riley Exploration Permian by 15.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 616,564 shares of the company's stock worth $22,474,000 after buying an additional 80,770 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Riley Exploration Permian in the 2nd quarter worth $2,033,000. Goldman Sachs Group Inc. raised its position in shares of Riley Exploration Permian by 131.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 106,720 shares of the company's stock valued at $2,817,000 after buying an additional 60,661 shares in the last quarter. McAlvany Wealth Management LLC raised its position in shares of Riley Exploration Permian by 136.3% during the 1st quarter. McAlvany Wealth Management LLC now owns 84,393 shares of the company's stock valued at $3,098,000 after buying an additional 48,677 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Riley Exploration Permian during the 3rd quarter worth $1,250,000. 58.91% of the stock is currently owned by institutional investors.

Riley Exploration Permian Price Performance

Shares of REPX stock opened at $34.27 on Monday. The firm has a market cap of $743.52 million, a P/E ratio of 6.08 and a beta of 0.91. Riley Exploration Permian, Inc. has a fifty-two week low of $24.08 and a fifty-two week high of $41.53. The business's 50 day moving average price is $34.24 and its 200-day moving average price is $33.22. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, July 29th. This represents a $1.60 annualized dividend and a yield of 4.7%. Riley Exploration Permian's payout ratio is 56.14%.

Insider Buying and Selling at Riley Exploration Permian

In other news, insider Corey Neil Riley sold 3,500 shares of the firm's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $34.37, for a total value of $120,295.00. Following the completion of the sale, the insider directly 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 transaction was disclosed in a document filed 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 firm's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $34.45, for a total transaction of $430,625.00. Following the completion of the sale, the chief executive officer directly owned 313,020 shares of the company's stock, valued at approximately $10,783,539. This represents a 3.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.20% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on REPX. Roth Capital reissued a "buy" rating and issued a $45.00 target price on shares of Riley Exploration Permian in a research note on Thursday, July 23rd. Zacks Research cut Riley Exploration Permian from a "strong-buy" rating to a "hold" rating in a report on Monday, May 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $46.00.

About Riley Exploration Permian

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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