Cornercap Investment Counsel Inc. Sells 8,792 Shares of Riley Exploration Permian, Inc. (NYSE:REPX)

Cornercap Investment Counsel Inc. reduced its position in shares of Riley Exploration Permian, Inc. (NYSE:REPX) by 33.1% in the third quarter, Holdings Channel reports. The firm owned 17,780 shares of the company’s stock after selling 8,792 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Riley Exploration Permian were worth $471,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Koss Olinger Consulting LLC increased its stake in Riley Exploration Permian by 2.3% during the 3rd quarter. Koss Olinger Consulting LLC now owns 18,326 shares of the company’s stock valued at $485,000 after purchasing an additional 409 shares in the last quarter. Quest Partners LLC boosted its holdings in shares of Riley Exploration Permian by 38.6% during the 2nd quarter. Quest Partners LLC now owns 3,815 shares of the company’s stock valued at $108,000 after acquiring an additional 1,062 shares during the last quarter. CWM LLC boosted its holdings in shares of 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 acquiring an additional 1,144 shares during the last quarter. Ariadne Wealth Management LP purchased a new stake in shares of Riley Exploration Permian during the 2nd quarter valued at about $36,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Riley Exploration Permian during the 2nd quarter valued at about $39,000. 58.91% of the stock is currently owned by institutional investors.

Riley Exploration Permian Stock Performance

Shares of NYSE REPX opened at $34.29 on Friday. The firm’s 50-day moving average price is $28.17 and its 200-day moving average price is $27.65. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.53. The company has a market cap of $736.55 million, a PE ratio of 6.41 and a beta of 1.34. Riley Exploration Permian, Inc. has a 52-week low of $21.27 and a 52-week high of $35.40.

Riley Exploration Permian Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Thursday, October 24th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date was Thursday, October 24th. This is an increase from Riley Exploration Permian’s previous quarterly dividend of $0.36. Riley Exploration Permian’s dividend payout ratio (DPR) is presently 26.95%.

Analyst Ratings Changes

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

Insider Activity

In related news, CEO Bobby Riley sold 8,981 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $26.49, for a total value of $237,906.69. Following the transaction, the chief executive officer now owns 326,375 shares of the company’s stock, valued at approximately $8,645,673.75. This trade represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.90% of the company’s stock.

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.