Empowered Funds LLC Has $1.97 Million Stock Position in Riley Exploration Permian, Inc. $REPX

Empowered Funds LLC boosted its position in shares of Riley Exploration Permian, Inc. (NYSE:REPX) by 73.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 53,949 shares of the company’s stock after purchasing an additional 22,779 shares during the quarter. Empowered Funds LLC owned about 0.25% of Riley Exploration Permian worth $1,966,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new position in shares of Riley Exploration Permian in the 4th quarter valued at about $27,000. Royal Bank of Canada lifted its holdings in Riley Exploration Permian by 210.9% in the fourth quarter. Royal Bank of Canada now owns 1,138 shares of the company’s stock valued at $31,000 after buying an additional 772 shares during the period. Quarry LP acquired a new position in Riley Exploration Permian in the third quarter valued at approximately $46,000. Advisory Services Network LLC acquired a new stake in Riley Exploration Permian during the 3rd quarter worth $65,000. Finally, Parkwood LLC acquired a new position in shares of Riley Exploration Permian in the 3rd quarter valued at $68,000. 58.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

REPX has been the topic of several recent research reports. Zacks Research lowered Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Roth Capital reissued a “buy” rating and issued a $45.00 target price on shares of Riley Exploration Permian in a research note on Thursday, July 23rd. One investment 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 data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $46.00.

Insider Buying and Selling

In related news, CEO Bobby Riley sold 12,500 shares of the firm’s stock in a transaction 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 sale, the chief executive officer directly owned 313,020 shares in the company, valued at $10,783,539. This trade represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 firm’s 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 sale, the insider owned 148,472 shares in the company, valued at approximately $5,102,982.64. The trade was a 2.30% decrease in their ownership of the stock. 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 own 4.20% of the company’s stock.

Riley Exploration Permian Trading Up 3.2%

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

Riley Exploration Permian Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.7%. The ex-dividend date is Wednesday, July 29th. Riley Exploration Permian’s dividend payout ratio (DPR) is 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.