First Eagle Investment Management LLC Acquires 246,798 Shares of Riley Exploration Permian, Inc. $REPX

First Eagle Investment Management LLC raised its holdings in shares of Riley Exploration Permian, Inc. (NYSE:REPX) by 134.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 430,946 shares of the company’s stock after purchasing an additional 246,798 shares during the period. First Eagle Investment Management LLC’s holdings in Riley Exploration Permian were worth $14,204,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Riley Exploration Permian during the 2nd quarter valued at about $40,302,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Riley Exploration Permian by 572.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 608,833 shares of the company’s stock valued at $22,192,000 after purchasing an additional 518,340 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Riley Exploration Permian by 3,781.5% during 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 during the last quarter. Bank of New York Mellon Corp bought a new position in Riley Exploration Permian during the second quarter valued at approximately $8,021,000. Finally, Denali Advisors LLC lifted its position in Riley Exploration Permian by 1,524.2% during the second quarter. Denali Advisors LLC now owns 228,051 shares of the company’s stock valued at $7,517,000 after purchasing an additional 214,010 shares during the period. Institutional investors own 58.91% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Riley Exploration Permian

In related news, insider Corey Riley sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $35.20, for a total transaction of $123,200.00. Following the completion of the transaction, the insider directly owned 210,062 shares in the company, valued at approximately $7,394,182.40. The trade was a 1.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Philip Riley sold 4,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $37.61, for a total transaction of $150,440.00. Following the completion of the sale, the chief financial officer directly owned 235,503 shares of the company’s stock, valued at $8,857,267.83. This represents a 1.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 20,000 shares of company stock worth $721,765. 4.20% of the stock is owned by company insiders.

Riley Exploration Permian Price Performance

NYSE REPX opened at $41.93 on Monday. The business’s fifty day moving average is $35.56 and its 200 day moving average is $34.88. Riley Exploration Permian, Inc. has a fifty-two week low of $24.08 and a fifty-two week high of $42.11. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.64 and a current ratio of 0.70. The company has a market capitalization of $928.92 million, a PE ratio of 7.43 and a beta of 0.96.

Riley Exploration Permian Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Wednesday, July 29th. Riley Exploration Permian’s payout ratio is presently 28.99%.

Riley Exploration Permian Company 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.