Victory Capital Management Inc. Increases Holdings in Riley Exploration Permian, Inc. (NYSE:REPX)

Victory Capital Management Inc. increased its holdings in shares of Riley Exploration Permian, Inc. (NYSE:REPX) by 61.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,091 shares of the company’s stock after purchasing an additional 14,810 shares during the period. Victory Capital Management Inc.’s holdings in Riley Exploration Permian were worth $1,036,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Koss Olinger Consulting LLC boosted its position in Riley Exploration Permian by 2.3% during the 3rd quarter. Koss Olinger Consulting LLC now owns 18,326 shares of the company’s stock worth $485,000 after purchasing an additional 409 shares during the period. Quest Partners LLC boosted its position in 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 buying an additional 1,062 shares during the last quarter. CWM LLC boosted its position in Riley Exploration Permian by 1,191.7% in the 2nd quarter. CWM LLC now owns 1,240 shares of the company’s stock valued at $35,000 after buying an additional 1,144 shares during the last quarter. Ariadne Wealth Management LP purchased a new position in Riley Exploration Permian in the 2nd quarter valued at about $36,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Riley Exploration Permian in the 2nd quarter valued at about $39,000. 58.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Riley Exploration Permian Stock Performance

NYSE:REPX opened at $34.90 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.70 and a quick ratio of 0.64. The firm has a 50-day moving average of $29.67 and a two-hundred day moving average of $28.20. The stock has a market cap of $749.65 million, a P/E ratio of 6.19 and a beta of 1.34. Riley Exploration Permian, Inc. has a 1-year low of $21.27 and a 1-year high of $37.15.

Riley Exploration Permian Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Thursday, October 24th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend was Thursday, October 24th. This is a positive change from Riley Exploration Permian’s previous quarterly dividend of $0.36. Riley Exploration Permian’s dividend payout ratio is 26.95%.

Insider Activity

In other news, CEO Bobby Riley sold 6,302 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $26.52, for a total value of $167,129.04. Following the sale, the chief executive officer now owns 335,356 shares in the company, valued at approximately $8,893,641.12. This represents a 1.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.90% of the company’s stock.

Riley Exploration Permian Company 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.