Royce & Associates LP Has $5.47 Million Stake in Riley Exploration Permian, Inc. (NYSE:REPX)

Royce & Associates LP lessened its position in shares of Riley Exploration Permian, Inc. (NYSE:REPX - Free Report) by 10.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 206,564 shares of the company's stock after selling 23,691 shares during the period. Royce & Associates LP owned about 0.96% of Riley Exploration Permian worth $5,472,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Mackenzie Financial Corp acquired a new stake in Riley Exploration Permian in the 2nd quarter valued at about $4,392,000. AQR Capital Management LLC acquired a new stake in Riley Exploration Permian in the 2nd quarter valued at about $3,723,000. Marshall Wace LLP acquired a new stake in Riley Exploration Permian in the 2nd quarter valued at about $2,396,000. First Eagle Investment Management LLC lifted its stake in Riley Exploration Permian by 42.8% in the 2nd quarter. First Eagle Investment Management LLC now owns 252,214 shares of the company's stock valued at $7,140,000 after purchasing an additional 75,650 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Riley Exploration Permian by 95.5% in the 2nd quarter. Renaissance Technologies LLC now owns 139,000 shares of the company's stock valued at $3,935,000 after purchasing an additional 67,900 shares during the last quarter. Institutional investors own 58.91% of the company's stock.

Riley Exploration Permian Stock Performance

REPX stock traded down $0.19 during mid-day trading on Tuesday, hitting $34.69. 89,782 shares of the company were exchanged, compared to its average volume of 125,606. The business has a 50 day simple moving average of $28.36 and a 200-day simple moving average of $27.76. 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 has a market capitalization of $745.25 million, a PE ratio of 6.15 and a beta of 1.34. Riley Exploration Permian, Inc. has a 1-year low of $21.27 and a 1-year high of $35.40.

Riley Exploration Permian Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Shareholders of record on Thursday, October 24th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, October 24th. This is an increase from Riley Exploration Permian's previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 4.38%. Riley Exploration Permian's dividend payout ratio (DPR) is 26.95%.

Insiders Place Their Bets

In other news, CEO Bobby Riley sold 6,302 shares of Riley Exploration Permian stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $26.52, for a total value of $167,129.04. Following the completion of the sale, the chief executive officer now directly owns 335,356 shares in the company, valued at approximately $8,893,641.12. The trade was a 1.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.90% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Truist Financial raised their target price on shares of 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 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.