Cannell & Spears LLC Sells 82,600 Shares of Riley Exploration Permian, Inc. $REPX

Cannell & Spears LLC cut its position in Riley Exploration Permian, Inc. (NYSE:REPX) by 79.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,200 shares of the company’s stock after selling 82,600 shares during the quarter. Cannell & Spears LLC owned about 0.10% of Riley Exploration Permian worth $773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of REPX. Renaissance Technologies LLC increased its holdings in shares of Riley Exploration Permian by 134.5% in the first quarter. Renaissance Technologies LLC now owns 142,100 shares of the company’s stock worth $5,180,000 after purchasing an additional 81,500 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Riley Exploration Permian by 572.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 608,833 shares of the company’s stock worth $22,192,000 after buying an additional 518,340 shares in the last quarter. Sei Investments Co. boosted its stake in Riley Exploration Permian by 90.0% during the first quarter. Sei Investments Co. now owns 41,484 shares of the company’s stock valued at $1,512,000 after buying an additional 19,650 shares during the period. State of Wyoming boosted its stake in Riley Exploration Permian by 47.4% during the first quarter. State of Wyoming now owns 7,386 shares of the company’s stock valued at $269,000 after buying an additional 2,375 shares during the period. Finally, First Trust Advisors LP boosted its stake in Riley Exploration Permian by 53.0% during the first quarter. First Trust Advisors LP now owns 193,512 shares of the company’s stock valued at $7,054,000 after buying an additional 67,005 shares during the period. 58.91% of the stock is owned by institutional investors.

Riley Exploration Permian Stock Performance

Shares of NYSE REPX opened at $35.48 on Friday. The stock has a market cap of $769.77 million, a price-to-earnings ratio of 6.29 and a beta of 0.91. 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 1-year low of $24.08 and a 1-year high of $41.53. The stock’s 50-day moving average is $34.75 and its 200 day moving average is $32.89.

Riley Exploration Permian Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Wednesday, July 29th. Riley Exploration Permian’s dividend payout ratio (DPR) is presently 56.14%.

Insider Activity at Riley Exploration Permian

In other Riley Exploration Permian news, CEO Bobby Riley sold 12,500 shares of Riley Exploration Permian stock in a transaction that occurred on Monday, May 11th. The shares were 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 of the company’s stock, valued at approximately $10,783,539. This trade represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Corey Neil Riley sold 3,500 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $34.37, for a total transaction of $120,295.00. Following the completion of the sale, the insider directly owned 148,472 shares of the company’s stock, valued at $5,102,982.64. This trade represents a 2.30% decrease in their position. 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. Company insiders own 4.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on REPX shares. Roth Capital restated a “buy” rating and issued a $45.00 target price on shares of Riley Exploration Permian in a research note on Thursday. Zacks Research downgraded Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $46.00.

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.