Los Angeles Capital Management LLC Decreases Holdings in Riley Exploration Permian, Inc. (NYSE:REPX)

Los Angeles Capital Management LLC lowered its position in Riley Exploration Permian, Inc. (NYSE:REPX) by 9.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,346 shares of the company’s stock after selling 6,200 shares during the period. Los Angeles Capital Management LLC owned approximately 0.28% of Riley Exploration Permian worth $1,572,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Eagle Investment Management LLC grew its holdings 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. Bank of New York Mellon Corp grew its stake in Riley Exploration Permian by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 237,578 shares of the company’s stock valued at $6,726,000 after acquiring an additional 16,267 shares during the last quarter. American Century Companies Inc. grew its stake in Riley Exploration Permian by 65.0% in the 2nd quarter. American Century Companies Inc. now owns 167,972 shares of the company’s stock valued at $4,755,000 after acquiring an additional 66,179 shares during the last quarter. Mackenzie Financial Corp purchased a new position in Riley Exploration Permian during the 2nd quarter valued at about $4,392,000. Finally, Renaissance Technologies LLC raised its position 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 acquiring an additional 67,900 shares during the last quarter. 58.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Riley Exploration Permian

In other news, CEO Bobby Riley sold 6,302 shares of Riley Exploration Permian stock in a transaction dated 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 directly owns 335,356 shares in the company, valued at $8,893,641.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, Truist Financial increased their price target on shares of Riley Exploration Permian from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, November 8th.

Riley Exploration Permian Stock Performance

Riley Exploration Permian stock opened at $33.39 on Thursday. Riley Exploration Permian, Inc. has a fifty-two week low of $21.27 and a fifty-two week high of $34.90. The company has a market capitalization of $717.22 million, a price-to-earnings ratio of 5.87 and a beta of 1.34. The stock has a fifty day moving average of $27.68 and a two-hundred day moving average of $27.51. 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 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 7th. Investors of record on Thursday, October 24th were paid a $0.38 dividend. This is an increase from Riley Exploration Permian’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, October 24th. This represents a $1.52 annualized dividend and a yield of 4.55%. Riley Exploration Permian’s payout ratio is presently 26.95%.

Riley Exploration Permian 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.