35,716 Shares in Riley Exploration Permian, Inc. $REPX Acquired by McAlvany Wealth Management LLC

McAlvany Wealth Management LLC purchased a new stake in Riley Exploration Permian, Inc. (NYSE:REPX) during the 4th quarter, Holdings Channel.com reports. The fund purchased 35,716 shares of the company’s stock, valued at approximately $943,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cannell & Spears LLC acquired a new position in Riley Exploration Permian during the 3rd quarter worth approximately $2,224,000. First Trust Advisors LP grew its position in Riley Exploration Permian by 172.6% in the fourth quarter. First Trust Advisors LP now owns 126,507 shares of the company’s stock valued at $3,340,000 after acquiring an additional 80,099 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Riley Exploration Permian during the second quarter valued at approximately $2,033,000. Goldman Sachs Group Inc. raised its stake in shares of Riley Exploration Permian by 131.7% during the fourth 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. Finally, American Century Companies Inc. lifted its position in shares of Riley Exploration Permian by 9.4% during the third quarter. American Century Companies Inc. now owns 581,491 shares of the company’s stock worth $15,764,000 after purchasing an additional 49,843 shares in the last quarter. 58.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on REPX shares. Roth Mkm restated a “buy” rating on shares of Riley Exploration Permian in a research note on Thursday, April 30th. Zacks Research downgraded shares of Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Truist Financial started coverage on shares of Riley Exploration Permian in a report on Tuesday, March 24th. They issued a “buy” rating and a $47.00 price objective on the stock. Finally, William Blair reissued an “outperform” rating on shares of Riley Exploration Permian in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Riley Exploration Permian presently has an average rating of “Buy” and an average price target of $41.50.

Insiders Place Their Bets

In related news, insider Corey Neil Riley sold 3,500 shares of the company’s stock in a transaction 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 sale, the insider directly owned 148,472 shares of the company’s stock, valued at $5,102,982.64. This represents a 2.30% decrease in their ownership of the stock. 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, CEO Bobby Riley sold 12,500 shares of the 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 transaction, the chief executive officer owned 313,020 shares in the company, valued at $10,783,539. This trade represents a 3.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 Stock Performance

Shares of REPX opened at $32.82 on Friday. The business’s 50 day moving average is $35.76 and its two-hundred day moving average is $31.64. 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 cap of $712.06 million, a price-to-earnings ratio of 5.82 and a beta of 0.89. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.53.

Riley Exploration Permian Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Wednesday, April 29th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date was Wednesday, April 29th. Riley Exploration Permian’s payout ratio is 56.14%.

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.