Quantbot Technologies LP Acquires New Position in Riley Exploration Permian, Inc. $REPX

Quantbot Technologies LP purchased a new stake in shares of Riley Exploration Permian, Inc. (NYSE:REPX) in the second quarter, HoldingsChannel.com reports. The fund purchased 28,566 shares of the company’s stock, valued at approximately $942,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of Riley Exploration Permian in the fourth quarter valued at about $27,000. Royal Bank of Canada lifted its stake in shares of Riley Exploration Permian by 210.9% during the 4th quarter. Royal Bank of Canada now owns 1,138 shares of the company’s stock worth $31,000 after purchasing an additional 772 shares during the period. Allworth Financial LP acquired a new stake in shares of Riley Exploration Permian in the second quarter worth approximately $42,000. Quarry LP acquired a new position in Riley Exploration Permian in the third quarter valued at $46,000. Finally, Advisory Services Network LLC purchased a new stake in Riley Exploration Permian during the third quarter valued at about $65,000. Institutional investors and hedge funds own 58.91% of the company’s stock.

Insider Transactions at Riley Exploration Permian

In other news, CFO Philip A. Riley sold 4,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $8,857,267.83. This trade represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Bobby Riley sold 12,500 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $35.85, for a total value of $448,125.00. Following the sale, the chief executive officer owned 482,983 shares in the company, valued at approximately $17,314,940.55. The trade was a 2.52% decrease in their ownership of the stock. 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. Insiders sold 20,000 shares of company stock valued at $721,765 over the last quarter. Company insiders own 4.20% of the company’s stock.

Riley Exploration Permian Stock Performance

NYSE:REPX opened at $37.44 on Thursday. The firm’s fifty day simple moving average is $34.59 and its 200 day simple moving average is $34.28. 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 twelve month low of $24.08 and a twelve month high of $41.53. The firm has a market capitalization of $829.45 million, a price-to-earnings ratio of 6.64 and a beta of 0.93.

Riley Exploration Permian Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Wednesday, July 29th. Riley Exploration Permian’s payout ratio is currently 28.99%.

Wall Street Analyst Weigh In

REPX has been the subject of several research analyst reports. Zacks Research lowered Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Truist Financial reduced their price objective on Riley Exploration Permian from $47.00 to $41.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Finally, Roth Capital reiterated a “buy” rating and set a $45.00 target price on shares of Riley Exploration Permian in a report on Thursday, July 23rd. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

About Riley Exploration Permian

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.