Marshall Wace LLP Makes New Investment in Riley Exploration Permian, Inc. (NYSE:REPX)

Marshall Wace LLP acquired a new stake in shares of Riley Exploration Permian, Inc. (NYSE:REPX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 84,651 shares of the company’s stock, valued at approximately $2,396,000. Marshall Wace LLP owned about 0.39% of Riley Exploration Permian at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Empowered Funds LLC lifted its holdings in Riley Exploration Permian by 8.0% in the 1st quarter. Empowered Funds LLC now owns 26,112 shares of the company’s stock worth $862,000 after buying an additional 1,925 shares during the period. Russell Investments Group Ltd. boosted its holdings in Riley Exploration Permian by 785.9% in the first quarter. Russell Investments Group Ltd. now owns 4,571 shares of the company’s stock valued at $151,000 after acquiring an additional 4,055 shares in the last quarter. Avantax Advisory Services Inc. bought a new position in Riley Exploration Permian in the 1st quarter worth $290,000. First Eagle Investment Management LLC raised its holdings in Riley Exploration Permian by 77.2% in the 1st quarter. First Eagle Investment Management LLC now owns 176,564 shares of the company’s stock worth $5,827,000 after purchasing an additional 76,932 shares in the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of Riley Exploration Permian in the 1st quarter worth about $640,000. 58.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Riley Exploration Permian news, CEO Bobby Riley sold 15,000 shares of Riley Exploration Permian stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $28.00, for a total value of $420,000.00. Following the completion of the sale, the chief executive officer now owns 366,658 shares of the company’s stock, valued at approximately $10,266,424. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 30,283 shares of company stock worth $825,036. 3.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Truist Financial decreased their price target on shares of Riley Exploration Permian from $45.00 to $38.00 and set a “buy” rating for the company in a research note on Monday.

Riley Exploration Permian Price Performance

Shares of REPX stock opened at $27.91 on Friday. The business’s fifty day moving average is $26.99 and its 200 day moving average is $27.82. The company has a quick ratio of 0.58, a current ratio of 0.63 and a debt-to-equity ratio of 0.62. The stock has a market cap of $601.29 million, a price-to-earnings ratio of 5.67 and a beta of 1.33. Riley Exploration Permian, Inc. has a twelve month low of $21.27 and a twelve month high of $34.90.

Riley Exploration Permian (NYSE:REPX) last announced its earnings results on Wednesday, August 7th. The company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.13). Riley Exploration Permian had a net margin of 23.95% and a return on equity of 25.74%. The business had revenue of $105.40 million for the quarter, compared to the consensus estimate of $106.62 million. Research analysts expect that Riley Exploration Permian, Inc. will post 6.62 EPS for the current fiscal year.

Riley Exploration Permian Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, July 25th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.16%. The ex-dividend date of this dividend was Thursday, July 25th. Riley Exploration Permian’s dividend payout ratio is currently 29.27%.

Riley Exploration Permian Profile

Riley Exploration Permian, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in Texas and New Mexico. The company's activities are primarily focused on the Northwest Shelf and Yeso trend of the Permian Basin.