Riley Exploration Permian, Inc. $REPX Shares Purchased by Ethic Inc.

Ethic Inc. lifted its position in Riley Exploration Permian, Inc. (NYSE:REPX) by 35.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,097 shares of the company’s stock after acquiring an additional 4,177 shares during the period. Ethic Inc. owned 0.07% of Riley Exploration Permian worth $430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in Riley Exploration Permian by 25.8% during the first quarter. American Century Companies Inc. now owns 484,614 shares of the company’s stock worth $14,136,000 after buying an additional 99,273 shares during the last quarter. GAMMA Investing LLC boosted its stake in Riley Exploration Permian by 93.5% during the first quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock worth $27,000 after buying an additional 449 shares during the last quarter. Brandywine Global Investment Management LLC boosted its stake in Riley Exploration Permian by 19.2% during the first quarter. Brandywine Global Investment Management LLC now owns 78,300 shares of the company’s stock worth $2,284,000 after buying an additional 12,620 shares during the last quarter. Nuveen LLC acquired a new position in Riley Exploration Permian during the first quarter worth $926,000. Finally, Petrus Trust Company LTA acquired a new position in Riley Exploration Permian during the first quarter worth $286,000. Institutional investors and hedge funds own 58.91% of the company’s stock.

Riley Exploration Permian Stock Performance

Shares of Riley Exploration Permian stock opened at $26.07 on Thursday. Riley Exploration Permian, Inc. has a 52 week low of $21.98 and a 52 week high of $37.55. The business’s fifty day simple moving average is $27.68 and its 200-day simple moving average is $26.97. The firm has a market cap of $574.63 million, a PE ratio of 4.62 and a beta of 1.18. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.53.

Riley Exploration Permian Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Tuesday, October 21st will be paid a $0.40 dividend. This is a boost from Riley Exploration Permian’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Tuesday, October 21st. This represents a $1.60 annualized dividend and a dividend yield of 6.1%. Riley Exploration Permian’s dividend payout ratio is currently 35.32%.

Analyst Upgrades and Downgrades

Separately, Roth Capital assumed coverage on Riley Exploration Permian in a research note on Monday, October 13th. They set a “buy” rating and a $36.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Strong Buy” and a consensus price target of $41.50.

Insider Buying and Selling at Riley Exploration Permian

In other news, insider Corey Neil Riley sold 3,500 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $26.42, for a total value of $92,470.00. Following the transaction, the insider owned 176,700 shares of the company’s stock, valued at $4,668,414. This represents a 1.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Bobby Riley sold 15,000 shares of the company’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $26.01, for a total value of $390,150.00. Following the completion of the transaction, the chief executive officer directly owned 399,636 shares in the company, valued at approximately $10,394,532.36. This trade represents a 3.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate 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.