Arrowstreet Capital Limited Partnership increased its holdings in shares of Riley Exploration Permian, Inc. (NYSE:REPX – Free Report) by 572.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 608,833 shares of the company’s stock after acquiring an additional 518,340 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Riley Exploration Permian were worth $22,192,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the business. Aster Capital Management DIFC Ltd bought a new stake in Riley Exploration Permian in the 4th quarter valued at about $27,000. Royal Bank of Canada increased its holdings in shares of Riley Exploration Permian by 210.9% during the fourth quarter. Royal Bank of Canada now owns 1,138 shares of the company’s stock worth $31,000 after purchasing an additional 772 shares during the period. Quarry LP bought a new position in shares of Riley Exploration Permian during the third quarter worth approximately $46,000. Advisory Services Network LLC acquired a new stake in shares of Riley Exploration Permian in the third quarter valued at approximately $65,000. Finally, Parkwood LLC acquired a new stake in shares of Riley Exploration Permian in the third quarter valued at approximately $68,000. Institutional investors and hedge funds own 58.91% of the company’s stock.
Insider Buying and Selling at Riley Exploration Permian
In other news, CEO Bobby Riley sold 12,500 shares of Riley Exploration Permian stock in a transaction on Monday, May 11th. The stock was sold at an average price of $34.45, for a total value of $430,625.00. Following the transaction, the chief executive officer 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 document filed with the SEC, which is accessible 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 business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $34.37, for a total value of $120,295.00. Following the transaction, 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. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.20% of the stock is owned by corporate insiders.
Riley Exploration Permian Price Performance
Riley Exploration Permian Announces Dividend
The company also recently disclosed 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 annualized dividend and a yield of 4.8%. The ex-dividend date is Wednesday, July 29th. Riley Exploration Permian’s payout ratio is currently 56.14%.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on REPX shares. Zacks Research lowered Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Roth Capital reiterated a “buy” rating and set a $45.00 target price on shares of Riley Exploration Permian in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $46.00.
Check Out Our Latest Research Report on REPX
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.
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