American Century Companies Inc. Acquires 49,843 Shares of Riley Exploration Permian, Inc. $REPX

American Century Companies Inc. raised its holdings in shares of Riley Exploration Permian, Inc. (NYSE:REPX) by 9.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 581,491 shares of the company’s stock after buying an additional 49,843 shares during the period. American Century Companies Inc. owned about 2.65% of Riley Exploration Permian worth $15,764,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP boosted its stake in shares of Riley Exploration Permian by 178.8% during the 3rd quarter. Quantbot Technologies LP now owns 8,749 shares of the company’s stock worth $237,000 after acquiring an additional 5,611 shares during the last quarter. Denali Advisors LLC raised its holdings in Riley Exploration Permian by 211.8% in the 3rd quarter. Denali Advisors LLC now owns 88,495 shares of the company’s stock worth $2,399,000 after purchasing an additional 60,110 shares during the period. State of Wyoming bought a new position in Riley Exploration Permian in the 3rd quarter worth $120,000. Principal Financial Group Inc. purchased a new position in Riley Exploration Permian during the third quarter valued at $363,000. Finally, AlphaQuest LLC lifted its position in Riley Exploration Permian by 39.1% during the third quarter. AlphaQuest LLC now owns 26,265 shares of the company’s stock valued at $712,000 after purchasing an additional 7,388 shares in the last quarter. 58.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. Zacks Research cut Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 13th. William Blair reaffirmed an “outperform” rating on shares of Riley Exploration Permian in a research report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $36.00.

Insider Buying and Selling at Riley Exploration Permian

In related news, insider Corey Neil Riley sold 3,500 shares of the company’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $27.41, for a total transaction of $95,935.00. Following the sale, the insider owned 158,565 shares of the company’s stock, valued at $4,346,266.65. This represents a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Bobby Riley sold 12,500 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $27.79, for a total transaction of $347,375.00. Following the transaction, the chief executive officer owned 336,931 shares of the company’s stock, valued at $9,363,312.49. This trade represents a 3.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 36,000 shares of company stock worth $961,510 in the last 90 days. 4.70% of the stock is currently owned by company insiders.

Riley Exploration Permian Price Performance

Shares of Riley Exploration Permian stock opened at $32.05 on Wednesday. The firm has a market cap of $691.22 million, a PE ratio of 5.68 and a beta of 1.22. The stock has a 50 day moving average of $27.97 and a 200 day moving average of $27.37. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.53. Riley Exploration Permian, Inc. has a 12 month low of $21.98 and a 12 month high of $33.48.

Riley Exploration Permian Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Thursday, January 22nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, January 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.0%. Riley Exploration Permian’s dividend payout ratio (DPR) is 21.08%.

Riley Exploration Permian declared that its Board of Directors has approved a share buyback plan on Tuesday, December 16th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 18% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Riley Exploration Permian Company Profile

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.