VIRGINIA RETIREMENT SYSTEMS ET Al Invests $799,000 in Riley Exploration Permian, Inc. $REPX

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Riley Exploration Permian, Inc. (NYSE:REPX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 24,250 shares of the company's stock, valued at approximately $799,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.11% of Riley Exploration Permian at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of REPX. Aster Capital Management DIFC Ltd purchased a new stake in Riley Exploration Permian in the fourth quarter worth approximately $27,000. Royal Bank of Canada increased its holdings in shares of Riley Exploration Permian by 210.9% in 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 period. Allworth Financial LP bought a new stake in shares of Riley Exploration Permian in the 2nd quarter valued at about $42,000. Quarry LP bought a new stake in shares of Riley Exploration Permian in the 3rd quarter valued at about $46,000. Finally, Nykredit A S purchased a new stake in Riley Exploration Permian during the 2nd quarter valued at about $63,000. 58.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Riley Exploration Permian

In other Riley Exploration Permian news, CEO Bobby Riley sold 12,500 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $35.85, for a total transaction of $448,125.00. Following the completion of the transaction, the chief executive officer owned 482,983 shares of the company's stock, valued at $17,314,940.55. This represents a 2.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Philip Riley sold 4,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was 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 trade represents a 1.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 20,000 shares of company stock worth $721,765 in the last 90 days. Company insiders own 4.20% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Zacks Research lowered Riley Exploration Permian from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. Truist Financial lowered their price objective on 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. Finally, Roth Capital reissued a "buy" rating and set a $45.00 price objective on shares of Riley Exploration Permian in a research note on Thursday, July 23rd. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Riley Exploration Permian currently has a consensus rating of "Moderate Buy" and an average target price of $43.00.

Riley Exploration Permian Price Performance

REPX stock opened at $43.51 on Monday. The stock has a market capitalization of $963.92 million, a price-to-earnings ratio of 7.71 and a beta of 0.96. The firm's 50-day moving average price is $36.58 and its two-hundred day moving average price is $35.41. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.53. Riley Exploration Permian, Inc. has a 12-month low of $24.08 and a 12-month high of $43.90.

Riley Exploration Permian Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Wednesday, July 29th. Riley Exploration Permian's payout ratio is currently 28.99%.

About Riley Exploration Permian

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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