Algert Global LLC Trims Stock Holdings in Riley Exploration Permian, Inc. (NYSE:REPX)

Algert Global LLC cut its stake in shares of Riley Exploration Permian, Inc. (NYSE:REPX - Free Report) by 65.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,494 shares of the company's stock after selling 31,580 shares during the period. Algert Global LLC owned approximately 0.08% of Riley Exploration Permian worth $437,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. CWM LLC raised its holdings in shares of Riley Exploration Permian by 1,191.7% in the 2nd quarter. CWM LLC now owns 1,240 shares of the company's stock valued at $35,000 after buying an additional 1,144 shares during the period. Ariadne Wealth Management LP purchased a new stake in Riley Exploration Permian during the second quarter worth about $36,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Riley Exploration Permian during the second quarter worth about $39,000. Point72 DIFC Ltd acquired a new stake in shares of Riley Exploration Permian during the second quarter worth about $51,000. Finally, Copeland Capital Management LLC acquired a new position in shares of Riley Exploration Permian in the third quarter valued at approximately $48,000. 58.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Bobby Riley sold 4,636 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $35.19, for a total value of $163,140.84. Following the transaction, the chief executive officer now owns 321,739 shares of the company's stock, valued at $11,321,995.41. This represents a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 19,919 shares of company stock worth $568,177. Company insiders own 3.90% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Truist Financial increased their target price on shares of Riley Exploration Permian from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, November 14th.

Riley Exploration Permian Stock Up 0.3 %

NYSE:REPX traded up $0.09 during midday trading on Friday, reaching $35.10. The company had a trading volume of 45,537 shares, compared to its average volume of 112,301. Riley Exploration Permian, Inc. has a 12-month low of $21.27 and a 12-month high of $37.15. The firm has a market capitalization of $753.95 million, a price-to-earnings ratio of 6.22 and a beta of 1.34. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.53. The stock's fifty day simple moving average is $29.97 and its 200-day simple moving average is $28.34.

Riley Exploration Permian Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Thursday, October 24th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.33%. The ex-dividend date was Thursday, October 24th. This is a boost from Riley Exploration Permian's previous quarterly dividend of $0.36. Riley Exploration Permian's dividend payout ratio (DPR) 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.