Cornercap Investment Counsel Inc. Cuts Stake in Riley Exploration Permian, Inc. (NYSE:REPX)

Cornercap Investment Counsel Inc. decreased its holdings in Riley Exploration Permian, Inc. (NYSE:REPX) by 33.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,780 shares of the company’s stock after selling 8,792 shares during the period. Cornercap Investment Counsel Inc. owned approximately 0.08% of Riley Exploration Permian worth $471,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. CWM LLC boosted its position in Riley Exploration Permian by 1,191.7% during 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 2nd quarter valued at $36,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Riley Exploration Permian during the 2nd quarter valued at $39,000. Copeland Capital Management LLC purchased a new stake in Riley Exploration Permian during the 3rd quarter valued at $48,000. Finally, Point72 DIFC Ltd purchased a new stake in Riley Exploration Permian during the 2nd quarter valued at $51,000. Hedge funds and other institutional investors own 58.91% of the company’s stock.

Riley Exploration Permian Stock Down 1.0 %

Shares of NYSE REPX opened at $34.29 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.53. Riley Exploration Permian, Inc. has a 12 month low of $21.27 and a 12 month high of $35.40. The firm has a market capitalization of $736.55 million, a PE ratio of 6.41 and a beta of 1.34. The firm has a fifty day simple moving average of $28.17 and a two-hundred day simple moving average of $27.65.

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 issued a $0.38 dividend. The ex-dividend date was Thursday, October 24th. This is a positive change from Riley Exploration Permian’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 4.43%. Riley Exploration Permian’s dividend payout ratio is 26.95%.

Analyst Ratings Changes

Separately, Truist Financial increased their price target on shares of Riley Exploration Permian from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday.

Insiders Place Their Bets

In related news, CEO Bobby Riley sold 8,981 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $26.49, for a total value of $237,906.69. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.90% of the company’s stock.

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.