Lazard Asset Management LLC Has $2.88 Million Stock Holdings in Riley Exploration Permian, Inc. $REPX

Lazard Asset Management LLC lifted its position in shares of Riley Exploration Permian, Inc. (NYSE:REPX) by 567.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,098 shares of the company’s stock after purchasing an additional 67,254 shares during the quarter. Lazard Asset Management LLC’s holdings in Riley Exploration Permian were worth $2,883,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in REPX. Dimensional Fund Advisors LP increased its position in shares of Riley Exploration Permian by 15.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 616,564 shares of the company’s stock valued at $22,474,000 after buying an additional 80,770 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Riley Exploration Permian by 572.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 608,833 shares of the company’s stock worth $22,192,000 after acquiring an additional 518,340 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Riley Exploration Permian by 9.8% during the fourth quarter. Geode Capital Management LLC now owns 303,060 shares of the company’s stock worth $8,003,000 after acquiring an additional 27,168 shares in the last quarter. Kennedy Capital Management LLC grew its stake in Riley Exploration Permian by 15.0% in the third quarter. Kennedy Capital Management LLC now owns 248,663 shares of the company’s stock valued at $6,741,000 after acquiring an additional 32,522 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Riley Exploration Permian by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 235,786 shares of the company’s stock valued at $8,594,000 after acquiring an additional 1,623 shares during the period. Institutional investors and hedge funds own 58.91% of the company’s stock.

Riley Exploration Permian Trading Up 2.2%

REPX opened at $34.27 on Friday. The stock has a market capitalization of $743.52 million, a P/E ratio of 6.08 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 12 month low of $24.08 and a 12 month high of $41.53. The firm’s fifty day simple moving average is $34.24 and its 200 day simple moving average is $33.18.

Riley Exploration Permian Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Wednesday, July 29th. Riley Exploration Permian’s payout ratio is 56.14%.

Insider Activity

In other Riley Exploration Permian news, CEO Bobby Riley sold 12,500 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer owned 313,020 shares in the company, valued at approximately $10,783,539. The trade was a 3.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 that occurred 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 approximately $5,102,982.64. This trade represents a 2.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on REPX shares. 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 set 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 given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Riley Exploration Permian has an average rating of “Buy” and a consensus target price of $46.00.

About Riley Exploration Permian

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.