Riley Exploration Permian, Inc. $REPX is Bluescape Energy Partners LLC's 2nd Largest Position

Key Points

• Bluescape Energy Partners trimmed its REPX stake by 5.2% in Q4, but Riley Exploration Permian still represents about 28.6% of the fund’s holdings and remains its second-largest position.
• Riley Exploration Permian recently paid a quarterly dividend of $0.40 per share, which annualizes to $1.60 and implies a 4.8% yield.
• Two insiders, including CEO Bobby Riley, sold shares under pre-arranged trading plans, while analysts currently maintain a Buy consensus with an average price target of $41.50.

Bluescape Energy Partners LLC lowered its holdings in shares of Riley Exploration Permian, Inc. (NYSE:REPX - Free Report) by 5.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,157,327 shares of the company's stock after selling 227,526 shares during the quarter. Riley Exploration Permian makes up approximately 28.6% of Bluescape Energy Partners LLC's holdings, making the stock its 2nd biggest position. Bluescape Energy Partners LLC owned about 18.92% of Riley Exploration Permian worth $109,753,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of REPX. Aster Capital Management DIFC Ltd bought a new stake in shares of Riley Exploration Permian during the 4th quarter valued at $27,000. Quarry LP bought a new stake in shares of Riley Exploration Permian during the 3rd quarter valued at $46,000. Advisory Services Network LLC bought a new stake in shares of Riley Exploration Permian during the 3rd quarter valued at $65,000. Parkwood LLC bought a new stake in shares of Riley Exploration Permian during the 3rd quarter valued at $68,000. Finally, State of Alaska Department of Revenue grew its position in shares of Riley Exploration Permian by 346.3% during the 4th quarter. State of Alaska Department of Revenue now owns 3,579 shares of the company's stock valued at $94,000 after acquiring an additional 2,777 shares during the period. Institutional investors own 58.91% of the company's stock.

Riley Exploration Permian Stock Up 0.0%

Shares of REPX stock opened at $33.37 on Wednesday. The company has a market capitalization of $724.00 million, a price-to-earnings ratio of 5.92 and a beta of 0.89. Riley Exploration Permian, Inc. has a one year low of $24.08 and a one year high of $41.53. The company's fifty day moving average price is $36.10 and its 200-day moving average price is $31.54. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.70 and a quick ratio of 0.64.

Riley Exploration Permian Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Wednesday, April 29th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Wednesday, April 29th. Riley Exploration Permian's dividend payout ratio (DPR) is presently 56.14%.

Insider Buying and Selling at Riley Exploration Permian

In related news, CEO Bobby Riley sold 12,500 shares of the 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 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 the stock in a transaction dated Monday, May 11th. The stock was 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 $5,102,982.64. This 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. 4.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on REPX. Truist Financial assumed coverage on shares of Riley Exploration Permian in a research report on Tuesday, March 24th. They set a "buy" rating and a $47.00 price objective for the company. William Blair reaffirmed an "outperform" rating on shares of Riley Exploration Permian in a research report on Thursday, March 5th. Roth Mkm reaffirmed a "buy" rating on shares of Riley Exploration Permian in a research report on Thursday, April 30th. Finally, Zacks Research cut Riley Exploration Permian from a "strong-buy" rating to a "hold" rating in a research report 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 given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $41.50.

About Riley Exploration Permian

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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