Public Employees Retirement System of Ohio Makes New $33.69 Million Investment in Riley Exploration Permian, Inc. $REPX

Public Employees Retirement System of Ohio acquired a new stake in shares of Riley Exploration Permian, Inc. (NYSE:REPX - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 197,171 shares of the company's stock, valued at approximately $33,689,000. Public Employees Retirement System of Ohio owned about 0.89% of Riley Exploration Permian at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd bought a new stake in shares of Riley Exploration Permian in the 1st quarter valued at about $249,000. Empowered Funds LLC grew its position in Riley Exploration Permian by 1.8% during the 1st quarter. Empowered Funds LLC now owns 31,549 shares of the company's stock worth $920,000 after acquiring an additional 562 shares during the last quarter. Jane Street Group LLC purchased a new position in Riley Exploration Permian in the 1st quarter worth approximately $431,000. JPMorgan Chase & Co. increased its stake in Riley Exploration Permian by 27.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,438 shares of the company's stock worth $195,000 after purchasing an additional 1,586 shares during the period. Finally, Rhumbline Advisers lifted its position in Riley Exploration Permian by 17.2% in the second quarter. Rhumbline Advisers now owns 19,052 shares of the company's stock valued at $500,000 after purchasing an additional 2,802 shares during the last quarter. 58.91% of the stock is owned by institutional investors.

Riley Exploration Permian Stock Performance

REPX opened at $38.28 on Friday. Riley Exploration Permian, Inc. has a one year low of $24.08 and a one year high of $41.53. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.70 and a quick ratio of 0.64. The business has a 50 day simple moving average of $34.81 and a two-hundred day simple moving average of $34.38. The firm has a market capitalization of $848.06 million, a price-to-earnings ratio of 6.79 and a beta of 0.93.

Riley Exploration Permian Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were issued a $0.40 dividend. The ex-dividend date was Wednesday, July 29th. This represents a $1.60 annualized dividend and a yield of 4.2%. Riley Exploration Permian's payout ratio is 28.99%.

Analyst Upgrades and Downgrades

REPX has been the topic of several recent analyst reports. Roth Capital restated a "buy" rating and issued a $45.00 target price on shares of Riley Exploration Permian in a report on Thursday, July 23rd. Zacks Research cut shares of Riley Exploration Permian from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. Finally, Truist Financial dropped their price target on shares of Riley Exploration Permian from $47.00 to $41.00 and set a "buy" rating for the company in a research report on Wednesday, August 12th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Riley Exploration Permian currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.

Insider Activity at Riley Exploration Permian

In other Riley Exploration Permian news, CEO Bobby Riley sold 12,500 shares of the business'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 transaction, the chief executive officer directly owned 482,983 shares of the company's stock, valued at approximately $17,314,940.55. The trade was a 2.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Philip A. Riley sold 4,000 shares of the firm's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $37.61, for a total transaction of $150,440.00. Following the completion of the sale, the chief financial officer directly owned 235,503 shares of the company's stock, valued at approximately $8,857,267.83. This represents a 1.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 20,000 shares of company stock worth $721,765 over the last quarter. Corporate 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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