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

Algert Global LLC reduced its position in shares of Riley Exploration Permian, Inc. (NYSE:REPX) by 65.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 16,494 shares of the company’s stock after selling 31,580 shares during the period. Algert Global LLC’s holdings in Riley Exploration Permian were worth $437,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of REPX. Mackenzie Financial Corp purchased a new stake in Riley Exploration Permian during the 2nd quarter worth about $4,392,000. AQR Capital Management LLC purchased a new stake in Riley Exploration Permian during the second quarter worth approximately $3,723,000. Marshall Wace LLP acquired a new position in Riley Exploration Permian in the second quarter valued at approximately $2,396,000. First Eagle Investment Management LLC increased its stake in Riley Exploration Permian by 42.8% in the second quarter. First Eagle Investment Management LLC now owns 252,214 shares of the company’s stock valued at $7,140,000 after purchasing an additional 75,650 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Riley Exploration Permian by 95.5% during the second quarter. Renaissance Technologies LLC now owns 139,000 shares of the company’s stock worth $3,935,000 after purchasing an additional 67,900 shares in the last quarter. Institutional investors and hedge funds own 58.91% of the company’s stock.

Insider Transactions at Riley Exploration Permian

In other Riley Exploration Permian news, CEO Bobby Riley sold 8,981 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $26.49, for a total transaction of $237,906.69. Following the transaction, the chief executive officer now directly owns 326,375 shares of the company’s stock, valued at approximately $8,645,673.75. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 19,919 shares of company stock worth $568,177. Insiders own 3.90% of the company’s stock.

Analyst Ratings Changes

Separately, Truist Financial increased their target price 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 Up 0.3 %

Riley Exploration Permian stock opened at $35.10 on Friday. The company has a market capitalization of $753.95 million, a P/E ratio of 6.22 and a beta of 1.34. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.64 and a current ratio of 0.70. Riley Exploration Permian, Inc. has a fifty-two week low of $21.27 and a fifty-two week high of $37.15. The stock has a 50-day simple moving average of $29.97 and a 200-day simple moving average of $28.32.

Riley Exploration Permian Increases Dividend

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

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.