Royce & Associates LP Sells 35,876 Shares of Riley Exploration Permian, Inc. $REPX

Royce & Associates LP decreased its stake in Riley Exploration Permian, Inc. (NYSE:REPX) by 20.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 139,042 shares of the company’s stock after selling 35,876 shares during the period. Royce & Associates LP’s holdings in Riley Exploration Permian were worth $3,671,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in REPX. Dynamic Technology Lab Private Ltd bought a new stake in Riley Exploration Permian in the first quarter worth about $249,000. Empowered Funds LLC raised its position in Riley Exploration Permian by 1.8% in the first 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 period. Jane Street Group LLC bought a new stake in Riley Exploration Permian in the first quarter worth about $431,000. JPMorgan Chase & Co. increased its stake in shares of Riley Exploration Permian by 27.1% in the second quarter. JPMorgan Chase & Co. now owns 7,438 shares of the company’s stock worth $195,000 after purchasing an additional 1,586 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Riley Exploration Permian by 17.2% in the second quarter. Rhumbline Advisers now owns 19,052 shares of the company’s stock worth $500,000 after purchasing an additional 2,802 shares in the last quarter. Institutional investors own 58.91% of the company’s stock.

Insider Activity at Riley Exploration Permian

In other Riley Exploration Permian news, CEO Bobby Riley sold 12,500 shares of Riley Exploration Permian stock in a transaction that occurred on Monday, May 11th. The shares were 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 directly owned 313,020 shares in the company, valued at $10,783,539. The trade was a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 Riley Exploration Permian stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $34.37, for a total transaction 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. The trade was a 2.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on REPX shares. Truist Financial started coverage on shares of Riley Exploration Permian in a research note on Tuesday, March 24th. They issued a “buy” rating and a $47.00 target price for the company. Zacks Research downgraded shares of Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. William Blair reiterated an “outperform” rating on shares of Riley Exploration Permian in a research note on Thursday, March 5th. Finally, Roth Mkm reiterated a “buy” rating on shares of Riley Exploration Permian in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Riley Exploration Permian has a consensus rating of “Buy” and an average price target of $41.50.

Riley Exploration Permian Price Performance

REPX stock opened at $33.26 on Friday. Riley Exploration Permian, Inc. has a 12 month low of $24.08 and a 12 month high of $41.53. The firm has a market capitalization of $721.61 million, a P/E ratio of 5.90 and a beta of 0.93. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.53. The firm has a 50 day moving average of $36.33 and a 200-day moving average of $30.76.

Riley Exploration Permian Dividend Announcement

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

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.