JPMorgan Chase & Co. Cuts Stock Position in Riley Exploration Permian, Inc. (NYSE:REPX)

JPMorgan Chase & Co. lessened its stake in shares of Riley Exploration Permian, Inc. (NYSE:REPX - Free Report) by 45.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,930 shares of the company's stock after selling 21,030 shares during the quarter. JPMorgan Chase & Co. owned about 0.12% of Riley Exploration Permian worth $660,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Ariadne Wealth Management LP purchased a new stake in Riley Exploration Permian in the second quarter valued at approximately $36,000. Copeland Capital Management LLC purchased a new stake in Riley Exploration Permian in the 3rd quarter valued at $48,000. Point72 DIFC Ltd purchased a new position in Riley Exploration Permian during the 2nd quarter worth $51,000. CWM LLC increased its stake in Riley Exploration Permian by 115.9% in the third quarter. CWM LLC now owns 2,677 shares of the company's stock valued at $71,000 after purchasing an additional 1,437 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Riley Exploration Permian in the third quarter valued at about $108,000. 58.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Truist Financial boosted their price target on Riley Exploration Permian from $45.00 to $47.00 and gave the company a "buy" rating in a research report on Monday, January 13th.

Riley Exploration Permian Price Performance

Shares of Riley Exploration Permian stock traded down $0.06 during trading on Tuesday, hitting $32.97. 71,612 shares of the company were exchanged, compared to its average volume of 96,260. The firm has a 50 day moving average price of $33.61 and a 200 day moving average price of $29.99. The stock has a market capitalization of $708.26 million, a price-to-earnings ratio of 5.83 and a beta of 1.46. 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 fifty-two week low of $21.27 and a fifty-two week high of $37.55.

Riley Exploration Permian Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Thursday, January 23rd will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date is Thursday, January 23rd. Riley Exploration Permian's dividend payout ratio is presently 26.95%.

Insider Buying and Selling

In other Riley Exploration Permian news, CEO Bobby Riley sold 4,636 shares of Riley Exploration Permian stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $35.19, for a total value of $163,140.84. Following the completion of the sale, the chief executive officer now owns 321,739 shares in the company, valued at $11,321,995.41. The trade was a 1.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.90% of the stock is owned by company insiders.

Riley Exploration Permian Company 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.