Riley Exploration Permian, Inc. (NYSE:REPX) Shares Bought by Empowered Funds LLC

Empowered Funds LLC lifted its stake in shares of Riley Exploration Permian, Inc. (NYSE:REPX) by 5.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,566 shares of the company’s stock after purchasing an additional 1,474 shares during the period. Empowered Funds LLC owned about 0.14% of Riley Exploration Permian worth $783,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of REPX. Russell Investments Group Ltd. boosted its holdings in Riley Exploration Permian by 785.9% in the 1st quarter. Russell Investments Group Ltd. now owns 4,571 shares of the company’s stock worth $151,000 after buying an additional 4,055 shares during the last quarter. CWM LLC raised its stake 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 purchasing an additional 1,144 shares during the last quarter. Summit Global Investments acquired a new position in Riley Exploration Permian in the 2nd quarter valued at $252,000. Bank of New York Mellon Corp boosted its stake in Riley Exploration Permian by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 237,578 shares of the company’s stock worth $6,726,000 after purchasing an additional 16,267 shares during the last quarter. Finally, Bailard Inc. boosted its stake in Riley Exploration Permian by 56.5% during the 2nd quarter. Bailard Inc. now owns 27,977 shares of the company’s stock worth $792,000 after purchasing an additional 10,100 shares during the last quarter. Institutional investors and hedge funds own 58.91% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at Riley Exploration Permian

In other news, CEO Bobby Riley sold 6,302 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $26.52, for a total transaction of $167,129.04. Following the completion of the sale, the chief executive officer now owns 335,356 shares in the company, valued at $8,893,641.12. This trade represents a 1.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.90% of the stock is owned by company insiders.

Riley Exploration Permian Trading Up 2.8 %

REPX opened at $36.88 on Friday. 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 company’s 50 day simple moving average is $29.17 and its two-hundred day simple moving average is $28.01. The firm has a market capitalization of $792.29 million, a price-to-earnings ratio of 6.54 and a beta of 1.34. Riley Exploration Permian, Inc. has a 1-year low of $21.27 and a 1-year high of $36.92.

Riley Exploration Permian Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Shareholders of record on Thursday, October 24th were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, October 24th. This represents a $1.52 dividend on an annualized basis and a yield of 4.12%. This is a positive change from Riley Exploration Permian’s previous quarterly dividend of $0.36. Riley Exploration Permian’s payout ratio is 26.95%.

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.