State Street Corp Acquires 75,993 Shares of Riley Exploration Permian, Inc. $REPX

Key Points

• State Street increased its Riley Exploration Permian stake by 30.4%, acquiring 75,993 shares to own 325,904 shares valued at approximately $10.7 million. Institutional investors collectively hold 58.91% of REPX.
• Analysts maintain a generally positive outlook, with three Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $43. Truist Financial lowered its target to $41 from $47.
• REPX pays a quarterly dividend of $0.40 per share, equivalent to an annualized $1.60 payout and a 3.9% yield. Shares opened at $40.55, down 2.7%, while insiders have sold 20,000 shares worth $721,765 over the past 90 days.

State Street Corp lifted its holdings in Riley Exploration Permian, Inc. (NYSE:REPX - Free Report) by 30.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 325,904 shares of the company's stock after purchasing an additional 75,993 shares during the period. State Street Corp owned 1.47% of Riley Exploration Permian worth $10,742,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in REPX. WINTON GROUP Ltd lifted its stake in shares of Riley Exploration Permian by 14.4% in the second quarter. WINTON GROUP Ltd now owns 28,075 shares of the company's stock valued at $925,000 after buying an additional 3,527 shares during the period. Engineers Gate Manager LP lifted its position in shares of Riley Exploration Permian by 48.2% in the 2nd quarter. Engineers Gate Manager LP now owns 42,968 shares of the company's stock worth $1,416,000 after acquiring an additional 13,971 shares during the period. Integrated Wealth Concepts LLC lifted its position in shares of Riley Exploration Permian by 35.6% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 13,407 shares of the company's stock worth $442,000 after acquiring an additional 3,522 shares during the period. Allworth Financial LP grew its holdings in shares of Riley Exploration Permian by 1,831.8% during the 2nd quarter. Allworth Financial LP now owns 1,275 shares of the company's stock worth $42,000 after purchasing an additional 1,209 shares in the last quarter. Finally, Nykredit A S bought a new position in Riley Exploration Permian in the second quarter worth $63,000. Institutional investors and hedge funds own 58.91% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on REPX. Truist Financial decreased their price target on shares of Riley Exploration Permian from $47.00 to $41.00 and set a "buy" rating on the stock in a research note on Wednesday, August 12th. Roth Capital restated a "buy" rating and issued a $45.00 price objective on shares of Riley Exploration Permian in a research note on Thursday, July 23rd. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Riley Exploration Permian presently has a consensus rating of "Moderate Buy" and an average price target of $43.00.

Insider Buying and Selling at Riley Exploration Permian

In other Riley Exploration Permian news, CFO Philip Riley sold 4,000 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $37.61, for a total value of $150,440.00. Following the completion of the sale, the chief financial officer 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Corey Riley sold 3,500 shares of the business's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $35.20, for a total value of $123,200.00. Following the completion of the transaction, the insider directly owned 210,062 shares of the company's stock, valued at approximately $7,394,182.40. The trade was a 1.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 20,000 shares of company stock valued at $721,765. Corporate insiders own 4.20% of the company's stock.

Riley Exploration Permian Trading Down 2.7%

REPX opened at $40.55 on Friday. The firm has a 50 day simple moving average of $38.27 and a 200 day simple moving average of $36.25. Riley Exploration Permian, Inc. has a fifty-two week low of $24.08 and a fifty-two week high of $45.31. The company has a market cap of $898.34 million, a price-to-earnings ratio of 7.19 and a beta of 0.96. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, July 29th. This represents a $1.60 dividend on an annualized basis and a yield of 3.9%. Riley Exploration Permian's dividend payout ratio (DPR) is 28.99%.

Riley Exploration Permian Company Profile

Riley Exploration Permian, Inc is an independent oil and natural gas exploration and production company. The company focuses on acquiring, developing and operating oil and gas properties, with production consisting primarily of crude oil, natural gas and natural gas liquids.

Riley Exploration Permian's operations are concentrated in the Permian Basin, one of the largest hydrocarbon-producing regions in the United States. Its asset base is primarily located in southeastern New Mexico, where the company develops wells and related infrastructure across its leasehold interests.

The company was established in 2016 and became a publicly traded company in 2021.

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