Renaissance Technologies LLC Grows Position in Riley Exploration Permian, Inc. $REPX

Renaissance Technologies LLC boosted its position in shares of Riley Exploration Permian, Inc. (NYSE:REPX) by 134.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 142,100 shares of the company’s stock after buying an additional 81,500 shares during the quarter. Renaissance Technologies LLC’s holdings in Riley Exploration Permian were worth $5,180,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its position in shares of Riley Exploration Permian by 572.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 608,833 shares of the company’s stock valued at $22,192,000 after acquiring an additional 518,340 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Riley Exploration Permian by 15.1% during the first quarter. Dimensional Fund Advisors LP now owns 616,564 shares of the company’s stock worth $22,474,000 after purchasing an additional 80,770 shares during the period. First Trust Advisors LP grew its stake in shares of Riley Exploration Permian by 172.6% in the fourth quarter. First Trust Advisors LP now owns 126,507 shares of the company’s stock worth $3,340,000 after purchasing an additional 80,099 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Riley Exploration Permian in the second quarter worth about $2,033,000. Finally, Goldman Sachs Group Inc. increased its holdings in Riley Exploration Permian by 131.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 106,720 shares of the company’s stock valued at $2,817,000 after purchasing an additional 60,661 shares during the period. Institutional investors own 58.91% of the company’s stock.

Insider Buying and Selling at Riley Exploration Permian

In other news, insider Corey Neil Riley sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $34.37, for a total value of $120,295.00. Following the transaction, the insider owned 148,472 shares in the company, valued at approximately $5,102,982.64. This represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $430,625.00. Following the completion of the transaction, the chief executive officer owned 313,020 shares of the company’s stock, valued at approximately $10,783,539. The trade was a 3.84% 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. 4.20% of the stock is owned by company insiders.

Analyst Ratings Changes

REPX has been the subject of several research analyst reports. Roth Capital reiterated a “buy” rating and issued a $45.00 price objective on shares of Riley Exploration Permian in a report on Thursday, July 23rd. Zacks Research downgraded Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $46.00.

Riley Exploration Permian Price Performance

REPX stock opened at $33.00 on Thursday. 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 firm has a 50 day moving average price of $34.07 and a 200-day moving average price of $33.34. Riley Exploration Permian, Inc. has a 52-week low of $24.08 and a 52-week high of $41.53. The firm has a market capitalization of $715.97 million, a price-to-earnings ratio of 5.85 and a beta of 0.91.

Riley Exploration Permian Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Wednesday, July 29th. Riley Exploration Permian’s dividend payout ratio is currently 56.14%.

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.