Pacer Advisors Inc. Acquires Shares of 80,015 Riley Exploration Permian, Inc. $REPX

Pacer Advisors Inc. acquired a new stake in shares of Riley Exploration Permian, Inc. (NYSE:REPX) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 80,015 shares of the company’s stock, valued at approximately $2,917,000.

A number of other institutional investors also recently modified their holdings of REPX. Bank of America Corp DE lifted its holdings in shares of Riley Exploration Permian by 5.4% in the 2nd quarter. Bank of America Corp DE now owns 7,806 shares of the company’s stock worth $205,000 after purchasing an additional 402 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in 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 valued at $189,000 after purchasing an additional 411 shares in the last quarter. MetLife Investment Management LLC raised its holdings in Riley Exploration Permian by 6.5% during the fourth quarter. MetLife Investment Management LLC now owns 8,410 shares of the company’s stock worth $222,000 after buying an additional 516 shares during the last quarter. Empowered Funds LLC raised its holdings in Riley Exploration Permian by 1.8% during the first quarter. Empowered Funds LLC now owns 31,549 shares of the company’s stock worth $920,000 after buying an additional 562 shares during the last quarter. Finally, State of Wyoming lifted its stake in shares of Riley Exploration Permian by 12.8% in the fourth quarter. State of Wyoming now owns 5,011 shares of the company’s stock valued at $132,000 after buying an additional 567 shares in the last quarter. 58.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Riley Exploration Permian news, CEO Bobby Riley sold 12,500 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $34.45, for a total transaction of $430,625.00. Following the transaction, the chief executive officer directly owned 313,020 shares in the company, valued at approximately $10,783,539. This trade represents a 3.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Riley Exploration Permian stock in a transaction on Monday, May 11th. The stock was sold at an average price of $34.37, for a total transaction of $120,295.00. Following the transaction, the insider directly owned 148,472 shares in the company, valued at $5,102,982.64. This represents a 2.30% 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. Corporate insiders own 4.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on REPX. Zacks Research cut shares of Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Roth Capital restated a “buy” rating and issued a $45.00 target price on shares of Riley Exploration Permian in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $46.00.

Riley Exploration Permian Stock Up 3.2%

REPX stock opened at $34.07 on Friday. Riley Exploration Permian, Inc. has a twelve month low of $24.08 and a twelve month high of $41.53. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.53. The stock’s 50 day moving average is $34.04 and its 200-day moving average is $33.39. The firm has a market capitalization of $739.18 million, a PE ratio of 6.04 and a beta of 0.93.

Riley Exploration Permian Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Wednesday, July 29th. Riley Exploration Permian’s dividend payout ratio is presently 56.14%.

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.