Ieq Capital LLC Invests $815,000 in Riley Exploration Permian, Inc. $REPX

Ieq Capital LLC purchased a new stake in shares of Riley Exploration Permian, Inc. (NYSE:REPX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 24,737 shares of the company’s stock, valued at approximately $815,000.

Several other large investors have also made changes to their positions in the company. Bank of America Corp DE raised its position in Riley Exploration Permian by 5.4% during the second quarter. Bank of America Corp DE now owns 7,806 shares of the company’s stock valued at $205,000 after acquiring an additional 402 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Riley Exploration Permian by 6.1% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,188 shares of the company’s stock worth $189,000 after purchasing an additional 411 shares during the last quarter. North Star Investment Management Corp. increased its stake in shares of Riley Exploration Permian by 1.3% during the 2nd quarter. North Star Investment Management Corp. now owns 36,273 shares of the company’s stock worth $1,196,000 after purchasing an additional 473 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of Riley Exploration Permian by 6.5% during the 4th quarter. MetLife Investment Management LLC now owns 8,410 shares of the company’s stock valued at $222,000 after purchasing an additional 516 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Riley Exploration Permian by 1.8% during the 1st quarter. Empowered Funds LLC now owns 31,549 shares of the company’s stock valued at $920,000 after purchasing an additional 562 shares in the last quarter. Institutional investors own 58.91% of the company’s stock.

Insider Buying and Selling at Riley Exploration Permian

In other Riley Exploration Permian news, insider Corey Neil Riley sold 3,500 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $35.20, for a total value of $123,200.00. Following the sale, the insider owned 210,062 shares of the company’s stock, valued at $7,394,182.40. The trade was a 1.64% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bobby Riley sold 12,500 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $35.85, for a total transaction of $448,125.00. Following the completion of the sale, the chief executive officer directly owned 482,983 shares in the company, valued at approximately $17,314,940.55. The trade was a 2.52% 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. Insiders have sold 20,000 shares of company stock valued at $721,765 in the last 90 days. 4.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on REPX. Roth Capital reiterated a “buy” rating and issued a $45.00 price objective on shares of Riley Exploration Permian in a report on Thursday, July 23rd. Zacks Research lowered Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Finally, Truist Financial reduced their price target 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. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Riley Exploration Permian has an average rating of “Moderate Buy” and an average price target of $43.00.

Riley Exploration Permian Stock Performance

NYSE REPX opened at $38.28 on Friday. Riley Exploration Permian, Inc. has a 52-week low of $24.08 and a 52-week high of $41.53. The firm has a market capitalization of $848.06 million, a price-to-earnings ratio of 6.79 and a beta of 0.93. The company’s fifty day moving average is $34.70 and its two-hundred day moving average is $34.35. 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, August 12th. Stockholders of record on Wednesday, July 29th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Wednesday, July 29th. Riley Exploration Permian’s dividend payout ratio (DPR) is presently 28.99%.

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.