Mackenzie Financial Corp Invests $4.39 Million in Riley Exploration Permian, Inc. (NYSE:REPX)

Mackenzie Financial Corp acquired a new stake in shares of Riley Exploration Permian, Inc. (NYSE:REPX) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 155,125 shares of the company’s stock, valued at approximately $4,392,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in REPX. First Eagle Investment Management LLC grew its holdings in shares of Riley Exploration Permian by 42.8% during the second quarter. First Eagle Investment Management LLC now owns 252,214 shares of the company’s stock worth $7,140,000 after buying an additional 75,650 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Riley Exploration Permian by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 237,578 shares of the company’s stock worth $6,726,000 after acquiring an additional 16,267 shares during the last quarter. American Century Companies Inc. grew its stake in Riley Exploration Permian by 65.0% in the 2nd quarter. American Century Companies Inc. now owns 167,972 shares of the company’s stock worth $4,755,000 after acquiring an additional 66,179 shares during the period. Renaissance Technologies LLC grew its stake in Riley Exploration Permian by 95.5% in the 2nd quarter. Renaissance Technologies LLC now owns 139,000 shares of the company’s stock worth $3,935,000 after acquiring an additional 67,900 shares during the period. Finally, AQR Capital Management LLC acquired a new position in Riley Exploration Permian in the 2nd quarter valued at $3,723,000. Hedge funds and other institutional investors own 58.91% of the company’s stock.

Insider Transactions at Riley Exploration Permian

In related news, CEO Bobby Riley sold 15,000 shares of the firm’s 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 transaction, the chief executive officer now owns 366,658 shares in the company, valued at $10,266,424. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 30,283 shares of company stock worth $825,036. 3.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Riley Exploration Permian Stock Performance

Shares of REPX stock opened at $26.79 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.58 and a current ratio of 0.63. The firm has a market capitalization of $578.13 million, a price-to-earnings ratio of 5.45 and a beta of 1.34. Riley Exploration Permian, Inc. has a one year low of $21.27 and a one year high of $34.90. The company has a 50 day moving average price of $27.10 and a 200 day moving average price of $27.84.

Riley Exploration Permian (NYSE:REPX) last released its quarterly earnings data on Wednesday, August 7th. The company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.13). Riley Exploration Permian had a return on equity of 25.74% and a net margin of 23.95%. The firm had revenue of $105.40 million for the quarter, compared to analyst estimates of $106.62 million. Sell-side analysts anticipate that Riley Exploration Permian, Inc. will post 6.62 EPS for the current year.

Riley Exploration Permian Dividend Announcement

The company also recently disclosed 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 5.38%. The ex-dividend date 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.