Renaissance Technologies LLC Acquires 81,500 Shares of Riley Exploration Permian, Inc. $REPX

Key Points

• Renaissance Technologies increased its Riley Exploration Permian stake by 134.5% in the first quarter, adding 81,500 shares to own 142,100 shares, or 0.65% of the company. Overall, hedge funds and other institutions own 58.91% of REPX.
• REPX shares opened at $33.00, down 2%, with a market capitalization of approximately $716 million and a price-to-earnings ratio of 5.85. The company announced a quarterly dividend of $0.40, representing a 4.8% annualized yield.
• Analyst sentiment remains favorable, with a consensus “Buy” rating and a $46 price target, although Zacks Research downgraded the stock to “Hold.” Company insiders recently sold shares under pre-arranged Rule 10b5-1 trading plans.

Renaissance Technologies LLC increased its holdings in Riley Exploration Permian, Inc. (NYSE:REPX - Free Report) by 134.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 142,100 shares of the company's stock after buying an additional 81,500 shares during the period. Renaissance Technologies LLC owned 0.65% of Riley Exploration Permian worth $5,180,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Arrowstreet Capital Limited Partnership raised its holdings in Riley Exploration Permian by 572.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 608,833 shares of the company's stock valued at $22,192,000 after acquiring an additional 518,340 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Riley Exploration Permian by 15.1% in the first quarter. Dimensional Fund Advisors LP now owns 616,564 shares of the company's stock worth $22,474,000 after acquiring an additional 80,770 shares during the period. First Trust Advisors LP grew its position in shares of Riley Exploration Permian by 172.6% in the fourth quarter. First Trust Advisors LP now owns 126,507 shares of the company's stock valued at $3,340,000 after purchasing an additional 80,099 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Riley Exploration Permian during the 2nd quarter valued at $2,033,000. Finally, Goldman Sachs Group Inc. lifted its holdings in Riley Exploration Permian by 131.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 106,720 shares of the company's stock worth $2,817,000 after purchasing an additional 60,661 shares in the last quarter. 58.91% of the stock is currently owned by hedge funds and other institutional investors.

Riley Exploration Permian Trading Down 2.0%

Shares of REPX stock opened at $33.00 on Thursday. 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, Inc. has a 52-week low of $24.08 and a 52-week high of $41.53. The company has a market capitalization of $715.97 million, a PE ratio of 5.85 and a beta of 0.91. The business's fifty day moving average is $34.07 and its 200 day moving average is $33.34.

Riley Exploration Permian Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Wednesday, July 29th. Riley Exploration Permian's dividend payout ratio is currently 56.14%.

Insider Activity

In other news, CEO Bobby Riley sold 12,500 shares of Riley Exploration Permian 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 owned 313,020 shares in the company, valued at approximately $10,783,539. This trade represents a 3.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 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 sale, the insider 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.20% of the company's stock.

Analyst Upgrades and Downgrades

REPX has been the subject of a number of recent analyst reports. Roth Capital reaffirmed a "buy" rating and set 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 note on Monday, May 25th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $46.00.

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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