Summit Global Investments Sells 5,869 Shares of Riley Exploration Permian, Inc. $REPX

Summit Global Investments decreased its stake in shares of Riley Exploration Permian, Inc. (NYSE:REPX) by 40.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,805 shares of the company’s stock after selling 5,869 shares during the period. Summit Global Investments’ holdings in Riley Exploration Permian were worth $231,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. American Century Companies Inc. grew its position in Riley Exploration Permian by 25.8% in the 1st quarter. American Century Companies Inc. now owns 484,614 shares of the company’s stock worth $14,136,000 after purchasing an additional 99,273 shares during the period. Geode Capital Management LLC boosted its stake in shares of Riley Exploration Permian by 14.9% in the 2nd quarter. Geode Capital Management LLC now owns 319,695 shares of the company’s stock worth $8,386,000 after buying an additional 41,574 shares during the last quarter. Nuveen LLC bought a new stake in shares of Riley Exploration Permian in the first quarter worth $926,000. LSV Asset Management increased its position in Riley Exploration Permian by 116.0% during the second quarter. LSV Asset Management now owns 54,200 shares of the company’s stock valued at $1,422,000 after acquiring an additional 29,105 shares during the last quarter. Finally, Denali Advisors LLC purchased a new stake in Riley Exploration Permian during the second quarter valued at $745,000. Hedge funds and other institutional investors own 58.91% of the company’s stock.

Insider Buying and Selling

In related news, CEO Bobby Riley sold 12,500 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $25.05, for a total value of $313,125.00. Following the sale, the chief executive officer owned 369,431 shares in the company, valued at approximately $9,254,246.55. The trade was a 3.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Corey Neil Riley sold 3,500 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $24.87, for a total transaction of $87,045.00. Following the sale, the insider directly owned 162,065 shares in the company, valued at approximately $4,030,556.55. The trade was a 2.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 4.70% of the company’s stock.

Riley Exploration Permian Trading Down 0.3%

Riley Exploration Permian stock opened at $27.07 on Thursday. Riley Exploration Permian, Inc. has a 1 year low of $21.98 and a 1 year high of $37.55. The firm’s 50 day moving average price is $26.71 and its 200-day moving average price is $27.05. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.70 and a quick ratio of 0.64. The stock has a market cap of $594.70 million, a P/E ratio of 4.80 and a beta of 1.20.

Riley Exploration Permian Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 6th. Stockholders of record on Tuesday, October 21st were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 5.9%. This is a positive change from Riley Exploration Permian’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Tuesday, October 21st. Riley Exploration Permian’s payout ratio is presently 39.12%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Roth Capital began coverage on Riley Exploration Permian in a research note on Monday, October 13th. They set a “buy” rating and a $36.00 price target for the company. William Blair started coverage on shares of Riley Exploration Permian in a report on Friday, November 21st. They issued an “outperform” rating on the stock. Finally, Zacks Research upgraded shares of Riley Exploration Permian to a “strong sell” rating in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Riley Exploration Permian has an average rating of “Moderate Buy” and an average price target of $41.50.

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.