Point72 DIFC Ltd Buys New Position in Riley Exploration Permian, Inc. (NYSE:REPX)

Point72 DIFC Ltd bought a new stake in shares of Riley Exploration Permian, Inc. (NYSE:REPX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,795 shares of the company’s stock, valued at approximately $51,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC increased its position in shares of Riley Exploration Permian by 1,191.7% during the second quarter. CWM LLC now owns 1,240 shares of the company’s stock worth $35,000 after buying an additional 1,144 shares during the period. Ariadne Wealth Management LP acquired a new stake in Riley Exploration Permian during the 2nd quarter worth about $36,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Riley Exploration Permian in the 2nd quarter worth about $39,000. Quest Partners LLC lifted its stake in shares of Riley Exploration Permian by 38.6% in the 2nd quarter. Quest Partners LLC now owns 3,815 shares of the company’s stock valued at $108,000 after purchasing an additional 1,062 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Riley Exploration Permian by 785.9% during the 1st quarter. Russell Investments Group Ltd. now owns 4,571 shares of the company’s stock valued at $151,000 after purchasing an additional 4,055 shares in the last quarter. Institutional investors own 58.91% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Truist Financial dropped 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 Up 1.1 %

Shares of NYSE REPX opened at $27.08 on Thursday. 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 firm has a market cap of $584.39 million, a PE ratio of 5.50 and a beta of 1.34. The company’s fifty day simple moving average is $27.01 and its 200 day simple moving average is $27.82. Riley Exploration Permian, Inc. has a 12-month low of $21.27 and a 12-month high of $34.90.

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

Riley Exploration Permian Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Thursday, July 25th were paid a $0.36 dividend. The ex-dividend date was Thursday, July 25th. This represents a $1.44 dividend on an annualized basis and a yield of 5.32%. Riley Exploration Permian’s dividend payout ratio (DPR) is presently 29.27%.

Insider Activity

In related news, CEO Bobby Riley sold 15,000 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $28.00, for a total value of $420,000.00. Following the transaction, the chief executive officer now directly owns 366,658 shares in the company, valued at approximately $10,266,424. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 30,283 shares of company stock worth $825,036 over the last quarter. 3.90% of the stock is currently owned by corporate insiders.

About Riley Exploration Permian

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.