Martingale Asset Management L P Increases Position in Riley Exploration Permian, Inc. (NYSE:REPX)

Martingale Asset Management L P increased its holdings in shares of Riley Exploration Permian, Inc. (NYSE:REPX - Free Report) by 292.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,621 shares of the company's stock after purchasing an additional 21,321 shares during the quarter. Martingale Asset Management L P owned approximately 0.13% of Riley Exploration Permian worth $758,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in REPX. Victory Capital Management Inc. boosted its stake in Riley Exploration Permian by 61.0% during the third quarter. Victory Capital Management Inc. now owns 39,091 shares of the company's stock valued at $1,036,000 after buying an additional 14,810 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Riley Exploration Permian by 95.5% during the second quarter. Renaissance Technologies LLC now owns 139,000 shares of the company's stock valued at $3,935,000 after buying an additional 67,900 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Riley Exploration Permian during the second quarter valued at approximately $1,856,000. Bailard Inc. boosted its stake in Riley Exploration Permian by 56.5% during the second quarter. Bailard Inc. now owns 27,977 shares of the company's stock valued at $792,000 after buying an additional 10,100 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in Riley Exploration Permian by 5.2% during the third quarter. Empowered Funds LLC now owns 29,566 shares of the company's stock valued at $783,000 after buying an additional 1,474 shares during the last quarter. Hedge funds and other institutional investors own 58.91% of the company's stock.

Insider Buying and Selling

In other Riley Exploration Permian news, CEO Bobby Riley sold 8,981 shares of the firm's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $26.49, for a total transaction of $237,906.69. Following the transaction, the chief executive officer now directly owns 326,375 shares in the company, valued at $8,645,673.75. This trade represents a 2.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders sold 21,229 shares of company stock valued at $614,249. Insiders own 3.90% of the company's stock.

Wall Street Analysts Forecast Growth

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

Riley Exploration Permian Trading Down 0.2 %

Shares of NYSE:REPX traded down $0.08 during trading on Tuesday, hitting $34.84. The company had a trading volume of 68,404 shares, compared to its average volume of 124,117. The stock has a market cap of $748.36 million, a price-to-earnings ratio of 6.53 and a beta of 1.42. Riley Exploration Permian, Inc. has a one year low of $21.27 and a one year high of $37.15. The company has a fifty day simple moving average of $30.13 and a two-hundred day simple moving average of $28.41. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.70 and a quick ratio of 0.64.

Riley Exploration Permian Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 7th. Investors of record on Thursday, October 24th were paid a dividend of $0.38 per share. This is a positive change from Riley Exploration Permian's previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date was Thursday, October 24th. Riley Exploration Permian's dividend payout ratio (DPR) is currently 26.95%.

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.