Dimensional Fund Advisors LP Increases Holdings in Riley Exploration Permian, Inc. $REPX

Dimensional Fund Advisors LP increased its position in shares of Riley Exploration Permian, Inc. (NYSE:REPX) by 15.1% in the first quarter, HoldingsChannel reports. The firm owned 616,564 shares of the company’s stock after acquiring an additional 80,770 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Riley Exploration Permian were worth $22,474,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of REPX. McAlvany Wealth Management LLC acquired a new position in Riley Exploration Permian in the 4th quarter worth approximately $943,000. Y Intercept Hong Kong Ltd acquired a new stake in Riley Exploration Permian during the 1st quarter valued at approximately $629,000. MQS Management LLC acquired a new stake in Riley Exploration Permian during the 1st quarter valued at approximately $399,000. North Star Investment Management Corp. lifted its stake in Riley Exploration Permian by 15.5% during the 1st quarter. North Star Investment Management Corp. now owns 35,800 shares of the company’s stock valued at $1,305,000 after acquiring an additional 4,800 shares during the period. Finally, Montgomery Investment Management Inc. purchased a new stake in shares of Riley Exploration Permian in the 1st quarter valued at $231,000. Hedge funds and other institutional investors own 58.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Zacks Research lowered shares of Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Roth Capital restated 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 research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Riley Exploration Permian presently has a consensus rating of “Buy” and a consensus target price of $46.00.

Riley Exploration Permian Stock Up 3.2%

Shares of REPX opened at $34.07 on Friday. Riley Exploration Permian, Inc. has a 52 week low of $24.08 and a 52 week high of $41.53. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $739.18 million, a price-to-earnings ratio of 6.04 and a beta of 0.93. The stock’s 50-day moving average price is $34.04 and its 200-day moving average price is $33.39.

Riley Exploration Permian Announces Dividend

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

Insider Activity at Riley Exploration Permian

In other Riley Exploration Permian news, 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 sale, the insider owned 148,472 shares in the company, valued at approximately $5,102,982.64. This represents a 2.30% decrease in their position. The transaction was disclosed in a document filed 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 firm’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 sale, the chief executive officer directly owned 313,020 shares in the company, valued at $10,783,539. The trade was a 3.84% 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. Corporate insiders own 4.20% of the company’s stock.

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.