Summit Global Investments Reduces Position in Riley Exploration Permian, Inc. $REPX

Summit Global Investments lowered its position in shares of Riley Exploration Permian, Inc. (NYSE:REPX) by 40.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,805 shares of the company’s stock after selling 5,869 shares during the period. Summit Global Investments’ holdings in Riley Exploration Permian were worth $231,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in REPX. CWM LLC raised its stake in shares of Riley Exploration Permian by 13.0% during the first quarter. CWM LLC now owns 4,221 shares of the company’s stock valued at $123,000 after acquiring an additional 486 shares during the last quarter. SummerHaven Investment Management LLC raised its position in Riley Exploration Permian by 2.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 28,619 shares of the company’s stock valued at $751,000 after purchasing an additional 552 shares during the last quarter. Empowered Funds LLC raised its position in Riley Exploration Permian by 1.8% during the 1st quarter. Empowered Funds LLC now owns 31,549 shares of the company’s stock valued at $920,000 after purchasing an additional 562 shares during the last quarter. Prudential Financial Inc. lifted its holdings in Riley Exploration Permian by 1.5% in the 2nd quarter. Prudential Financial Inc. now owns 55,342 shares of the company’s stock worth $1,452,000 after buying an additional 825 shares during the period. Finally, Bailard Inc. grew its position in shares of Riley Exploration Permian by 11.2% in the 2nd quarter. Bailard Inc. now owns 9,500 shares of the company’s stock worth $249,000 after buying an additional 958 shares during the last quarter. Institutional investors own 58.91% of the company’s stock.

Insider Transactions 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 shares were sold at an average price of $25.05, for a total value of $313,125.00. Following the transaction, the chief executive officer owned 369,431 shares in the company, valued at $9,254,246.55. The trade was a 3.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Corey Neil Riley sold 3,500 shares of Riley Exploration Permian stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $24.87, for a total transaction of $87,045.00. Following the completion of the transaction, the insider directly owned 162,065 shares of the company’s stock, valued at $4,030,556.55. This trade represents a 2.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 4.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on REPX shares. William Blair initiated coverage on Riley Exploration Permian in a report on Friday, November 21st. They set an “outperform” rating for the company. Roth Capital began coverage on shares of Riley Exploration Permian in a research report on Monday, October 13th. They set a “buy” rating and a $36.00 price objective on the stock. Finally, Zacks Research raised shares of Riley Exploration Permian to a “strong sell” rating in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $41.50.

Riley Exploration Permian Stock Down 0.3%

REPX stock opened at $27.07 on Thursday. The business has a 50 day moving average of $26.71 and a 200 day moving average of $27.05. The firm has a market cap of $594.70 million, a PE ratio of 4.80 and a beta of 1.20. Riley Exploration Permian, Inc. has a twelve month low of $21.98 and a twelve month high of $37.55. 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 business also recently declared a quarterly dividend, which was paid on Thursday, November 6th. Stockholders of record on Tuesday, October 21st were given a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, October 21st. This represents a $1.60 annualized dividend and a dividend yield of 5.9%. This is a boost from Riley Exploration Permian’s previous quarterly dividend of $0.38. Riley Exploration Permian’s 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.