Citadel Advisors LLC Sells 120,706 Shares of Riley Exploration Permian, Inc. $REPX

Citadel Advisors LLC decreased its position in shares of Riley Exploration Permian, Inc. (NYSE:REPX) by 52.5% during the second quarter, Holdings Channel.com reports. The fund owned 109,076 shares of the company’s stock after selling 120,706 shares during the quarter. Citadel Advisors LLC’s holdings in Riley Exploration Permian were worth $3,595,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. McAlvany Wealth Management LLC bought a new stake in shares of Riley Exploration Permian during the 4th quarter valued at $943,000. Bank of America Corp DE boosted its holdings in Riley Exploration Permian by 608.2% in the 1st quarter. Bank of America Corp DE now owns 196,032 shares of the company’s stock worth $7,145,000 after buying an additional 168,352 shares during the period. Renaissance Technologies LLC increased its stake in Riley Exploration Permian by 134.5% in the 1st 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. Lazard Asset Management LLC increased its stake in Riley Exploration Permian by 567.8% in the 1st 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 in the last quarter. Finally, BlackRock Inc. bought a new stake in Riley Exploration Permian during the second quarter valued at about $40,302,000. Hedge funds and other institutional investors own 58.91% of the company’s stock.

Insider Buying and Selling at Riley Exploration Permian

In other news, CFO Philip A. Riley sold 4,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $37.61, for a total transaction of $150,440.00. Following the completion of the transaction, the chief financial officer directly owned 235,503 shares in the company, valued at approximately $8,857,267.83. This represents a 1.67% 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. Also, insider Corey Riley sold 3,500 shares of the stock in a transaction that occurred 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 transaction, the insider owned 210,062 shares of the company’s stock, valued at $7,394,182.40. This represents a 1.64% 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 sold 20,000 shares of company stock worth $721,765 in the last quarter. 4.20% of the stock is owned by corporate insiders.

Riley Exploration Permian Stock Performance

Shares of Riley Exploration Permian stock opened at $41.93 on Tuesday. The firm has a market cap of $928.92 million, a price-to-earnings ratio of 7.43 and a beta of 0.96. The business has a 50-day moving average price of $35.74 and a 200-day moving average price of $34.99. The company has a quick ratio of 0.64, a current ratio of 0.70 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 $42.11.

Riley Exploration Permian Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $1.60 dividend on an annualized basis and a yield of 3.8%. Riley Exploration Permian’s dividend payout ratio is presently 28.99%.

Wall Street Analyst Weigh In

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