Pacer Advisors Inc. Buys Shares of 80,015 Riley Exploration Permian, Inc. $REPX

Key Points

• Pacer Advisors bought 80,015 shares of Riley Exploration Permian worth approximately $2.9 million, giving it a 0.37% stake. Institutional investors collectively own 58.91% of the company.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $46; Roth Capital reiterated its $45 target, while Zacks downgraded the stock to “Hold.”
• Riley Exploration Permian announced a quarterly dividend of $0.40 per share, or $1.60 annualized, representing a yield of about 4.7%. Two insiders also sold shares under pre-arranged Rule 10b5-1 plans.

Pacer Advisors Inc. purchased a new position in shares of Riley Exploration Permian, Inc. (NYSE:REPX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 80,015 shares of the company's stock, valued at approximately $2,917,000. Pacer Advisors Inc. owned about 0.37% of Riley Exploration Permian as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new stake in shares of Riley Exploration Permian in the 4th quarter valued at $27,000. Royal Bank of Canada raised its stake in Riley Exploration Permian by 210.9% during the fourth quarter. Royal Bank of Canada now owns 1,138 shares of the company's stock worth $31,000 after buying an additional 772 shares during the last quarter. Quarry LP bought a new position in Riley Exploration Permian during the third quarter worth $46,000. Advisory Services Network LLC acquired a new position in Riley Exploration Permian in the third quarter valued at $65,000. Finally, Parkwood LLC acquired a new position in Riley Exploration Permian in the third quarter valued at $68,000. Institutional investors and hedge funds own 58.91% of the company's stock.

Insider Buying and Selling at Riley Exploration Permian

In other Riley Exploration Permian news, CEO Bobby Riley sold 12,500 shares of the firm's stock in a transaction on 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 sale, the chief executive officer directly owned 313,020 shares in the company, valued at approximately $10,783,539. This trade represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 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 of the company's stock, valued at approximately $5,102,982.64. This trade represents a 2.30% 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. 4.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

REPX has been the topic of a number of research analyst reports. 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. Zacks Research lowered Riley Exploration Permian from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. One 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 stock. Based on data from MarketBeat, Riley Exploration Permian currently has a consensus rating of "Buy" and an average target price of $46.00.

Riley Exploration Permian Price Performance

Riley Exploration Permian stock opened at $34.07 on Friday. The stock has a market capitalization of $739.18 million, a price-to-earnings ratio of 6.04 and a beta of 0.93. Riley Exploration Permian, Inc. has a 52-week low of $24.08 and a 52-week high of $41.53. 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 moving average price is $34.04 and its two-hundred day moving average price is $33.39.

Riley Exploration Permian Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th will be paid 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 yield of 4.7%. Riley Exploration Permian's dividend payout ratio is currently 56.14%.

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.

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).

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