Mackenzie Financial Corp Purchases New Position in Riley Exploration Permian, Inc. (NYSE:REPX)

Mackenzie Financial Corp acquired a new position in shares of Riley Exploration Permian, Inc. (NYSE:REPX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 155,125 shares of the company’s stock, valued at approximately $4,392,000. Mackenzie Financial Corp owned approximately 0.72% of Riley Exploration Permian at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Empowered Funds LLC grew its stake in Riley Exploration Permian by 8.0% during 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 last quarter. Russell Investments Group Ltd. grew its position in shares of Riley Exploration Permian by 785.9% during the first quarter. Russell Investments Group Ltd. now owns 4,571 shares of the company’s stock worth $151,000 after acquiring an additional 4,055 shares during the last quarter. Avantax Advisory Services Inc. purchased a new stake in Riley Exploration Permian in the 1st quarter valued at $290,000. First Eagle Investment Management LLC raised its position 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 valued at $5,827,000 after purchasing an additional 76,932 shares during the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in Riley Exploration Permian during the 1st quarter worth $640,000. Hedge funds and other institutional investors own 58.91% of the company’s stock.

Riley Exploration Permian Stock Up 1.1 %

REPX opened at $26.79 on Wednesday. Riley Exploration Permian, Inc. has a 52 week low of $21.27 and a 52 week high of $34.90. The business has a 50 day moving average price of $27.10 and a two-hundred day moving average price of $27.84. 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 company has a market cap of $578.13 million, a PE ratio of 5.45 and a beta of 1.34.

Riley Exploration Permian (NYSE:REPX) last released its quarterly earnings results on Wednesday, August 7th. The company reported $1.61 EPS for the quarter, missing the consensus estimate 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 company had revenue of $105.40 million for the quarter, compared to analysts’ expectations of $106.62 million. As a group, research 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 announced a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, July 25th were issued 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 payout ratio is 29.27%.

Insider Transactions at Riley Exploration Permian

In related news, CEO Bobby Riley sold 15,000 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $28.00, for a total transaction of $420,000.00. Following the transaction, the chief executive officer now owns 366,658 shares of the company’s stock, valued at $10,266,424. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 30,283 shares of company stock worth $825,036 over the last ninety days. 3.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.