197,171 Shares in Riley Exploration Permian, Inc. $REPX Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio acquired a new position in Riley Exploration Permian, Inc. (NYSE:REPX) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 197,171 shares of the company’s stock, valued at approximately $33,689,000.

A number of other hedge funds have also recently modified their holdings of REPX. McAlvany Wealth Management LLC bought a new position in shares of Riley Exploration Permian during the fourth quarter valued at approximately $943,000. Bank of America Corp DE increased its holdings in Riley Exploration Permian by 608.2% during the first quarter. Bank of America Corp DE now owns 196,032 shares of the company’s stock valued at $7,145,000 after buying an additional 168,352 shares during the period. Dimensional Fund Advisors LP raised its stake in 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 buying an additional 80,770 shares in the last quarter. Renaissance Technologies LLC raised its stake in Riley Exploration Permian by 134.5% in the first quarter. Renaissance Technologies LLC now owns 142,100 shares of the company’s stock worth $5,180,000 after buying an additional 81,500 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in Riley Exploration Permian by 567.8% during the first quarter. Lazard Asset Management LLC now owns 79,098 shares of the company’s stock worth $2,883,000 after buying an additional 67,254 shares during the period. Institutional investors own 58.91% of the company’s stock.

Insiders Place Their Bets

In other Riley Exploration Permian news, CFO Philip A. 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 transaction of $150,440.00. Following the transaction, the chief financial officer owned 235,503 shares in the company, valued at approximately $8,857,267.83. This represents a 1.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Corey Neil Riley sold 3,500 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $35.20, for a total transaction 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. This represents a 1.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 20,000 shares of company stock valued at $721,765. Insiders own 4.20% of the company’s stock.

Riley Exploration Permian Price Performance

Riley Exploration Permian stock opened at $38.28 on Friday. Riley Exploration Permian, Inc. has a 1-year low of $24.08 and a 1-year high of $41.53. The business has a fifty day moving average price of $34.81 and a 200-day moving average price of $34.38. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.70 and a quick ratio of 0.64. The stock has a market capitalization of $848.06 million, a price-to-earnings ratio of 6.79 and a beta of 0.93.

Riley Exploration Permian Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were paid a $0.40 dividend. The ex-dividend date was Wednesday, July 29th. This represents a $1.60 dividend on an annualized basis and a yield of 4.2%. Riley Exploration Permian’s dividend payout ratio (DPR) is 28.99%.

Analyst Ratings Changes

Several brokerages have issued reports on REPX. Zacks Research cut Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Roth Capital reissued a “buy” rating and issued a $45.00 price target on shares of Riley Exploration Permian in a research report on Thursday, July 23rd. Finally, Truist Financial decreased their price objective on Riley Exploration Permian from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

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.