Empowered Funds LLC Purchases 22,779 Shares of Riley Exploration Permian, Inc. $REPX

Empowered Funds LLC grew its position in shares of Riley Exploration Permian, Inc. (NYSE:REPX) by 73.1% in the first quarter, HoldingsChannel reports. The fund owned 53,949 shares of the company’s stock after acquiring an additional 22,779 shares during the period. Empowered Funds LLC’s holdings in Riley Exploration Permian were worth $1,966,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of America Corp DE boosted its holdings in Riley Exploration Permian by 5.4% during the second quarter. Bank of America Corp DE now owns 7,806 shares of the company’s stock worth $205,000 after purchasing an additional 402 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Riley Exploration Permian by 6.1% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,188 shares of the company’s stock valued at $189,000 after buying an additional 411 shares during the last quarter. MetLife Investment Management LLC lifted its position in Riley Exploration Permian by 6.5% during the 4th quarter. MetLife Investment Management LLC now owns 8,410 shares of the company’s stock worth $222,000 after buying an additional 516 shares in the last quarter. State of Wyoming boosted its stake in shares of Riley Exploration Permian by 12.8% during the 4th quarter. State of Wyoming now owns 5,011 shares of the company’s stock worth $132,000 after buying an additional 567 shares during the last quarter. Finally, Bailard Inc. boosted its stake in shares of Riley Exploration Permian by 6.2% during the 4th quarter. Bailard Inc. now owns 10,300 shares of the company’s stock worth $272,000 after buying an additional 600 shares during the last quarter. 58.91% of the stock is currently owned by institutional investors and hedge funds.

Riley Exploration Permian Price Performance

Shares of NYSE REPX opened at $34.07 on Friday. 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 business’s 50 day moving average price is $34.04 and its two-hundred day moving average price is $33.39. The company has a market cap of $739.18 million, a PE ratio of 6.04 and a beta of 0.93. Riley Exploration Permian, Inc. has a twelve month low of $24.08 and a twelve month high of $41.53.

Riley Exploration Permian Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on REPX. Roth Capital reaffirmed a “buy” rating and issued a $45.00 target price on shares of Riley Exploration Permian in a research report on Thursday, July 23rd. Zacks Research cut Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. One equities research 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $46.00.

Insider Buying and Selling

In other Riley Exploration Permian news, CEO Bobby Riley sold 12,500 shares of Riley Exploration Permian 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 completion of the transaction, the chief executive officer directly owned 313,020 shares of the company’s stock, valued at $10,783,539. The trade was a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through 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 Riley Exploration Permian 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 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 ownership of the stock. 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 currently owned by insiders.

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.