Carlyle Group Inc. Invests $530,000 in Riley Exploration Permian, Inc. $REPX

Carlyle Group Inc. acquired a new stake in Riley Exploration Permian, Inc. (NYSE:REPX) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 16,092 shares of the company’s stock, valued at approximately $530,000. Riley Exploration Permian makes up approximately 0.0% of Carlyle Group Inc.’s portfolio, making the stock its 14th largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of REPX. Dynamic Technology Lab Private Ltd acquired a new position in Riley Exploration Permian during the first quarter valued at approximately $249,000. Empowered Funds LLC increased its position 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 worth $920,000 after purchasing an additional 562 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Riley Exploration Permian during the 1st quarter worth approximately $431,000. JPMorgan Chase & Co. raised its stake in shares of Riley Exploration Permian by 27.1% during the 2nd 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 raised its stake in shares of Riley Exploration Permian by 17.2% during the 2nd 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 and hedge funds own 58.91% of the company’s stock.

Riley Exploration Permian Trading Up 2.7%

Riley Exploration Permian stock opened at $37.10 on Tuesday. Riley Exploration Permian, Inc. has a 52 week low of $24.08 and a 52 week high of $41.53. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.64 and a current ratio of 0.70. The stock has a market capitalization of $821.91 million, a P/E ratio of 6.58 and a beta of 0.93. The stock has a 50-day simple moving average of $34.13 and a 200 day simple moving average of $33.81.

Riley Exploration Permian Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Wednesday, July 29th. Riley Exploration Permian’s dividend payout ratio (DPR) is presently 28.99%.

Insider Buying and Selling

In related news, CEO Bobby Riley sold 12,500 shares of the business’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 transaction, the chief executive officer directly owned 482,983 shares of the company’s stock, valued at approximately $17,314,940.55. The trade was a 2.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Corey Neil Riley sold 3,500 shares of the 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 completion of the sale, the insider owned 210,062 shares in the company, valued at approximately $7,394,182.40. This trade represents a 1.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on REPX. Truist Financial decreased their target price on shares of 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. Roth Capital reaffirmed a “buy” rating and set a $45.00 price target on shares of Riley Exploration Permian in a research report on Thursday, July 23rd. Finally, Zacks Research cut shares of Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Riley Exploration Permian Company 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.