HighTower Advisors LLC Buys New Position in Riley Exploration Permian, Inc. $REPX

HighTower Advisors LLC bought a new stake in Riley Exploration Permian, Inc. (NYSE:REPX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 29,123 shares of the company’s stock, valued at approximately $960,000.

A number of other large investors have also recently bought and sold shares of REPX. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Riley Exploration Permian in the second quarter valued at approximately $799,000. First Eagle Investment Management LLC boosted its holdings in Riley Exploration Permian by 134.0% during the second quarter. First Eagle Investment Management LLC now owns 430,946 shares of the company’s stock worth $14,204,000 after purchasing an additional 246,798 shares during the last quarter. California State Teachers Retirement System grew its position in Riley Exploration Permian by 3,781.5% in the second quarter. California State Teachers Retirement System now owns 482,271 shares of the company’s stock valued at $14,632,000 after purchasing an additional 469,846 shares in the last quarter. Nykredit A S bought a new position in Riley Exploration Permian in the second quarter valued at $63,000. Finally, Jasper Ridge Partners L.P. acquired a new stake in Riley Exploration Permian in the 2nd quarter valued at $315,000. Institutional investors and hedge funds own 58.91% of the company’s stock.

Riley Exploration Permian Price Performance

NYSE:REPX opened at $43.22 on Tuesday. The stock has a market capitalization of $957.50 million, a PE ratio of 7.66 and a beta of 0.96. Riley Exploration Permian, Inc. has a 1-year low of $24.08 and a 1-year high of $44.92. The firm has a fifty day simple moving average of $36.81 and a 200 day simple moving average of $35.52. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Wednesday, July 29th. Riley Exploration Permian’s dividend payout ratio (DPR) is 28.99%.

Insider Activity

In other news, insider Corey Riley sold 3,500 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $35.20, for a total transaction of $123,200.00. Following the transaction, the insider directly owned 210,062 shares in the company, valued at $7,394,182.40. The trade was a 1.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bobby Riley sold 12,500 shares of Riley Exploration Permian stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $35.85, for a total value of $448,125.00. Following the transaction, the chief executive officer owned 482,983 shares of the company’s stock, valued at $17,314,940.55. The trade was a 2.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 20,000 shares of company stock valued at $721,765 in the last quarter. Company insiders own 4.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on REPX. Roth Capital reissued a “buy” rating and set a $45.00 price target on shares of Riley Exploration Permian in a research report on Thursday, July 23rd. Truist Financial decreased their price objective on Riley Exploration Permian from $47.00 to $41.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Finally, Zacks Research downgraded Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Riley Exploration Permian has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Riley Exploration Permian Company Profile

Riley Exploration Permian, Inc is an independent oil and natural gas exploration and production company. The company focuses on acquiring, developing and operating oil and gas properties, with production consisting primarily of crude oil, natural gas and natural gas liquids.

Riley Exploration Permian’s operations are concentrated in the Permian Basin, one of the largest hydrocarbon-producing regions in the United States. Its asset base is primarily located in southeastern New Mexico, where the company develops wells and related infrastructure across its leasehold interests.

The company was established in 2016 and became a publicly traded company in 2021.