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

Ieq Capital LLC acquired a new position in shares of Riley Exploration Permian, Inc. (NYSE:REPX) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 24,737 shares of the company’s stock, valued at approximately $815,000. Ieq Capital LLC owned approximately 0.11% of Riley Exploration Permian as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of REPX. Aster Capital Management DIFC Ltd purchased a new stake in shares of Riley Exploration Permian during the fourth quarter valued at $27,000. Royal Bank of Canada increased its stake in Riley Exploration Permian by 210.9% in 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 in the last quarter. Allworth Financial LP purchased a new position in Riley Exploration Permian in the 2nd quarter worth about $42,000. Quarry LP acquired a new stake in Riley Exploration Permian during the 3rd quarter worth about $46,000. Finally, Advisory Services Network LLC purchased a new stake in Riley Exploration Permian during the third quarter valued at about $65,000. 58.91% of the stock is currently owned by institutional investors and hedge funds.

Riley Exploration Permian Stock Up 2.2%

Shares of 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 company has a market cap of $848.06 million, a P/E ratio of 6.79 and a beta of 0.93. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average price of $34.70 and a 200 day moving average price of $34.35.

Riley Exploration Permian Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Investors 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 was Wednesday, July 29th. Riley Exploration Permian’s dividend payout ratio (DPR) is currently 28.99%.

Insider Activity at Riley Exploration Permian

In other Riley Exploration Permian news, insider Corey Neil Riley sold 3,500 shares of the company’s 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 in the company, valued at approximately $7,394,182.40. This represents a 1.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bobby Riley sold 12,500 shares of the 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 completion of the sale, the chief executive officer 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 20,000 shares of company stock valued at $721,765. Corporate insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Zacks Research downgraded shares of Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Roth Capital restated 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 lowered their price objective on shares of Riley Exploration Permian from $47.00 to $41.00 and set a “buy” rating on the stock 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.