Riley Exploration Permian, Inc. $REPX Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its stake in Riley Exploration Permian, Inc. (NYSE:REPX) by 14.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,518 shares of the company’s stock after selling 6,590 shares during the period. Los Angeles Capital Management LLC owned about 0.17% of Riley Exploration Permian worth $984,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of REPX. CWM LLC raised its position in Riley Exploration Permian by 13.0% in the 1st quarter. CWM LLC now owns 4,221 shares of the company’s stock valued at $123,000 after purchasing an additional 486 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Riley Exploration Permian by 4.9% during the first quarter. Victory Capital Management Inc. now owns 45,122 shares of the company’s stock worth $1,316,000 after buying an additional 2,111 shares during the period. Segall Bryant & Hamill LLC raised its holdings in Riley Exploration Permian by 16.4% in the first quarter. Segall Bryant & Hamill LLC now owns 70,187 shares of the company’s stock valued at $2,047,000 after acquiring an additional 9,864 shares in the last quarter. Bailard Inc. acquired a new stake in Riley Exploration Permian in the first quarter valued at approximately $249,000. Finally, Invesco Ltd. purchased a new position in Riley Exploration Permian in the first quarter worth approximately $229,000. Hedge funds and other institutional investors own 58.91% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on REPX. Zacks Research raised shares of Riley Exploration Permian to a “strong sell” rating in a research report on Monday, November 3rd. Roth Capital began coverage on shares of Riley Exploration Permian in a research note on Monday, October 13th. They set a “buy” rating and a $36.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Riley Exploration Permian has an average rating of “Moderate Buy” and an average target price of $41.50.

Insider Buying and Selling at Riley Exploration Permian

In related news, CEO Bobby Riley sold 12,500 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer directly owned 369,431 shares of the company’s stock, valued at $9,254,246.55. This represents a 3.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Corey Neil Riley sold 3,500 shares of Riley Exploration Permian stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $24.87, for a total value of $87,045.00. Following the transaction, the insider directly owned 162,065 shares in the company, valued at approximately $4,030,556.55. This trade represents a 2.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.70% of the company’s stock.

Riley Exploration Permian Stock Performance

Shares of Riley Exploration Permian stock opened at $25.92 on Thursday. 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, Inc. has a 52 week low of $21.98 and a 52 week high of $37.55. The firm’s 50 day moving average is $27.01 and its two-hundred day moving average is $26.99. The firm has a market capitalization of $569.44 million, a P/E ratio of 4.60 and a beta of 1.20.

Riley Exploration Permian Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 6th. Investors of record on Tuesday, October 21st were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 6.2%. This is a boost from Riley Exploration Permian’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Tuesday, October 21st. Riley Exploration Permian’s dividend payout ratio is presently 39.12%.

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.