McAlvany Wealth Management LLC Invests $943,000 in Riley Exploration Permian, Inc. $REPX

Key Points

• McAlvany Wealth Management bought a new position in Riley Exploration Permian, acquiring 35,716 shares valued at about $943,000 in the fourth quarter.
• Institutional interest in REPX remains significant, with hedge funds and other investors owning 58.91% of the company’s stock.
• The stock has a Buy consensus rating with a $41.50 price target, while insiders recently sold shares and the company continues to pay a quarterly dividend yielding about 4.9%.

McAlvany Wealth Management LLC acquired a new position in shares of Riley Exploration Permian, Inc. (NYSE:REPX - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 35,716 shares of the company's stock, valued at approximately $943,000. McAlvany Wealth Management LLC owned about 0.17% of Riley Exploration Permian at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of REPX. Invesco Ltd. increased its position in Riley Exploration Permian by 38.8% during the fourth quarter. Invesco Ltd. now owns 29,903 shares of the company's stock worth $789,000 after buying an additional 8,363 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Riley Exploration Permian by 12.3% during the fourth quarter. Mackenzie Financial Corp now owns 163,215 shares of the company's stock valued at $4,364,000 after acquiring an additional 17,941 shares during the last quarter. VARCOV Co. acquired a new stake in shares of Riley Exploration Permian during the fourth quarter valued at $304,000. Susquehanna Portfolio Strategies LLC increased its position in Riley Exploration Permian by 19.8% during the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 18,178 shares of the company's stock worth $480,000 after purchasing an additional 3,001 shares in the last quarter. Finally, Oxford Asset Management LLP purchased a new stake in Riley Exploration Permian during the 4th quarter worth about $445,000. Hedge funds and other institutional investors own 58.91% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. William Blair restated an "outperform" rating on shares of Riley Exploration Permian in a report on Thursday, March 5th. Zacks Research downgraded shares of Riley Exploration Permian from a "strong-buy" rating to a "hold" rating in a report on Monday, May 25th. Truist Financial started coverage on shares of Riley Exploration Permian in a research report on Tuesday, March 24th. They issued a "buy" rating and a $47.00 price objective for the company. Finally, Roth Mkm reissued a "buy" rating on shares of Riley Exploration Permian in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $41.50.

Riley Exploration Permian Price Performance

Shares of NYSE:REPX opened at $32.82 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.53. The firm has a market cap of $712.06 million, a price-to-earnings ratio of 5.82 and a beta of 0.89. The stock's 50-day moving average price is $35.76 and its two-hundred day moving average price is $31.64. Riley Exploration Permian, Inc. has a 12-month low of $24.08 and a 12-month high of $41.53.

Riley Exploration Permian Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Wednesday, April 29th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, April 29th. This represents a $1.60 annualized dividend and a yield of 4.9%. Riley Exploration Permian's dividend payout ratio is 56.14%.

Insider Buying and Selling

In other Riley Exploration Permian 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 value of $120,295.00. Following the transaction, the insider owned 148,472 shares in the company, valued at $5,102,982.64. This trade represents a 2.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 of the company's stock, valued at $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. Company insiders own 4.20% of the company's stock.

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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