HighTower Advisors LLC Invests $960,000 in Riley Exploration Permian, Inc. $REPX

Key Points

• HighTower Advisors purchased 29,123 shares of Riley Exploration Permian in the second quarter, valued at approximately $960,000. Institutional investors and hedge funds now own 58.91% of the company.
• Analysts maintain a generally positive outlook, 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 $43.22 and offer a quarterly dividend of $0.40 per share, equivalent to a 3.7% annualized yield. Meanwhile, company insiders sold 20,000 shares worth about $721,765 during the last quarter.

HighTower Advisors LLC purchased a new stake in Riley Exploration Permian, Inc. (NYSE:REPX - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 29,123 shares of the company's stock, valued at approximately $960,000. HighTower Advisors LLC owned about 0.13% of Riley Exploration Permian at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of REPX. Allworth Financial LP bought a new position in Riley Exploration Permian during the 2nd quarter worth approximately $42,000. Nykredit A S bought a new stake in Riley Exploration Permian in the second quarter valued at approximately $63,000. Globeflex Capital L P bought a new stake in Riley Exploration Permian in the second quarter valued at approximately $108,000. Quartz Partners LLC acquired a new stake in Riley Exploration Permian in the second quarter worth $206,000. Finally, EP Wealth Advisors LLC acquired a new stake in Riley Exploration Permian in the second quarter worth $207,000. 58.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on REPX. Roth Capital reissued a "buy" rating and issued a $45.00 price target on shares of Riley Exploration Permian in a report on Thursday, July 23rd. Truist Financial dropped their price objective on Riley Exploration Permian from $47.00 to $41.00 and set a "buy" rating on the stock in a research note on Wednesday, August 12th. Finally, Zacks Research lowered Riley Exploration Permian from a "strong-buy" rating to a "hold" rating in a report on Monday, May 25th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $43.00.

Insider Transactions at Riley Exploration Permian

In related news, CEO Bobby Riley sold 12,500 shares of the firm's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $35.85, for a total transaction of $448,125.00. Following the sale, the chief executive officer directly owned 482,983 shares in the company, valued at $17,314,940.55. This trade represents a 2.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Corey Riley sold 3,500 shares of the business's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $35.20, for a total transaction of $123,200.00. Following the completion of the sale, the insider directly owned 210,062 shares in the company, valued at $7,394,182.40. This represents a 1.64% 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. Insiders sold 20,000 shares of company stock valued at $721,765 over the last quarter. Corporate insiders own 4.20% of the company's stock.

Riley Exploration Permian Price Performance

NYSE REPX opened at $43.22 on Tuesday. The business has a 50 day simple moving average of $36.81 and a 200 day simple moving average of $35.52. Riley Exploration Permian, Inc. has a 52-week low of $24.08 and a 52-week high of $44.92. 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 has a market cap of $957.50 million, a price-to-earnings ratio of 7.66 and a beta of 0.96.

Riley Exploration Permian Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $1.60 annualized dividend and a dividend yield of 3.7%. Riley Exploration Permian's dividend payout ratio is currently 28.99%.

About Riley Exploration Permian

Riley Exploration Permian, Inc is an independent oil and natural gas exploration and production company. The company focuses on acquiring, developing and operating oil and gas properties, with production consisting primarily of crude oil, natural gas and natural gas liquids.

Riley Exploration Permian's operations are concentrated in the Permian Basin, one of the largest hydrocarbon-producing regions in the United States. Its asset base is primarily located in southeastern New Mexico, where the company develops wells and related infrastructure across its leasehold interests.

The company was established in 2016 and became a publicly traded company in 2021.

Want to see what other hedge funds are holding REPX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Riley Exploration Permian, Inc. (NYSE:REPX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.