Algert Global LLC Trims Stock Position in Riley Exploration Permian, Inc. (NYSE:REPX)

Algert Global LLC trimmed its holdings in Riley Exploration Permian, Inc. (NYSE:REPX) by 65.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 16,494 shares of the company’s stock after selling 31,580 shares during the period. Algert Global LLC owned approximately 0.08% of Riley Exploration Permian worth $437,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in REPX. Russell Investments Group Ltd. grew its holdings 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 worth $151,000 after purchasing an additional 4,055 shares during the period. CWM LLC boosted its stake in 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. Summit Global Investments acquired a new stake in shares of Riley Exploration Permian during the second quarter valued at about $252,000. Bank of New York Mellon Corp raised its stake in shares of Riley Exploration Permian by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 237,578 shares of the company’s stock valued at $6,726,000 after acquiring an additional 16,267 shares during the period. Finally, Bailard Inc. lifted its holdings in shares of Riley Exploration Permian by 56.5% in the 2nd quarter. Bailard Inc. now owns 27,977 shares of the company’s stock worth $792,000 after acquiring an additional 10,100 shares during the last quarter. Institutional investors and hedge funds own 58.91% of the company’s stock.

Riley Exploration Permian Price Performance

REPX stock opened at $35.10 on Friday. The business’s fifty day moving average price is $29.97 and its 200 day moving average price is $28.32. Riley Exploration Permian, Inc. has a 12-month low of $21.27 and a 12-month high of $37.15. The company has a market capitalization of $753.95 million, a PE ratio of 6.22 and a beta of 1.34. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Thursday, October 24th were paid a $0.38 dividend. This is a positive change from Riley Exploration Permian’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, October 24th. This represents a $1.52 annualized dividend and a dividend yield of 4.33%. Riley Exploration Permian’s dividend payout ratio (DPR) is presently 26.95%.

Wall Street Analyst Weigh In

Separately, Truist Financial lifted their target price on shares of Riley Exploration Permian from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, November 14th.

Insider Activity at Riley Exploration Permian

In other news, CEO Bobby Riley sold 8,981 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $26.49, for a total value of $237,906.69. Following the sale, the chief executive officer now directly owns 326,375 shares in the company, valued at approximately $8,645,673.75. This trade represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 19,919 shares of company stock worth $568,177. Corporate insiders own 3.90% of the company’s stock.

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.