Brandywine Global Investment Management LLC Purchases 16,460 Shares of Riley Exploration Permian, Inc. $REPX

Brandywine Global Investment Management LLC grew its position in shares of Riley Exploration Permian, Inc. (NYSE:REPX) by 21.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 94,760 shares of the company’s stock after purchasing an additional 16,460 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.43% of Riley Exploration Permian worth $2,486,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. American Century Companies Inc. boosted its position in Riley Exploration Permian by 25.8% during the 1st 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 period. Geode Capital Management LLC raised its stake in shares of Riley Exploration Permian by 14.9% during the second quarter. Geode Capital Management LLC now owns 319,695 shares of the company’s stock valued at $8,386,000 after acquiring an additional 41,574 shares during the last quarter. Nuveen LLC bought a new stake in shares of Riley Exploration Permian in the first quarter worth $926,000. LSV Asset Management increased its holdings in Riley Exploration Permian by 116.0% in the second quarter. LSV Asset Management now owns 54,200 shares of the company’s stock valued at $1,422,000 after purchasing an additional 29,105 shares during the period. Finally, Denali Advisors LLC bought a new position in Riley Exploration Permian during the 2nd quarter worth $745,000. Institutional investors and hedge funds own 58.91% of the company’s stock.

Insider Activity

In related news, insider Corey Neil Riley sold 3,500 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $24.87, for a total value of $87,045.00. Following the completion of the sale, the insider directly owned 162,065 shares of the company’s stock, valued at $4,030,556.55. The trade was a 2.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Bobby Riley sold 12,500 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $25.05, for a total value of $313,125.00. Following the completion of the transaction, the chief executive officer owned 369,431 shares in the company, valued at approximately $9,254,246.55. The trade was a 3.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.70% of the company’s stock.

Riley Exploration Permian Stock Up 4.6%

Riley Exploration Permian stock opened at $27.62 on Tuesday. The company has a market capitalization of $606.78 million, a PE ratio of 4.90 and a beta of 1.20. Riley Exploration Permian, Inc. has a 12-month low of $21.98 and a 12-month high of $37.55. The firm’s fifty day moving average is $26.74 and its 200 day moving average is $27.04. 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 company also recently announced a quarterly dividend, which was paid on Thursday, November 6th. Stockholders of record on Tuesday, October 21st were paid a $0.40 dividend. The ex-dividend date was Tuesday, October 21st. This represents a $1.60 annualized dividend and a dividend yield of 5.8%. This is a boost from Riley Exploration Permian’s previous quarterly dividend of $0.38. Riley Exploration Permian’s dividend payout ratio (DPR) is 39.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Roth Capital began coverage on Riley Exploration Permian in a research note on Monday, October 13th. They issued a “buy” rating and a $36.00 price target for the company. Zacks Research raised shares of Riley Exploration Permian to a “strong sell” rating in a research report on Monday, November 3rd. Finally, William Blair began coverage on shares of Riley Exploration Permian in a research report on Friday. They issued an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.50.

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.