PCG Wealth Advisors LLC Sells 2,337 Shares of Riley Exploration Permian, Inc. (NYSE:REPX)

PCG Wealth Advisors LLC trimmed its stake in shares of Riley Exploration Permian, Inc. (NYSE:REPX) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,989 shares of the company’s stock after selling 2,337 shares during the quarter. PCG Wealth Advisors LLC owned about 0.49% of Riley Exploration Permian worth $2,781,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Empowered Funds LLC grew its stake in Riley Exploration Permian by 8.0% during the first quarter. Empowered Funds LLC now owns 26,112 shares of the company’s stock worth $862,000 after buying an additional 1,925 shares in the last quarter. Russell Investments Group Ltd. raised its position in Riley Exploration Permian by 785.9% during the first quarter. Russell Investments Group Ltd. now owns 4,571 shares of the company’s stock valued at $151,000 after purchasing an additional 4,055 shares in the last quarter. Avantax Advisory Services Inc. bought a new stake in Riley Exploration Permian during the first quarter worth $290,000. First Eagle Investment Management LLC boosted its holdings in shares of Riley Exploration Permian by 77.2% in the 1st quarter. First Eagle Investment Management LLC now owns 176,564 shares of the company’s stock valued at $5,827,000 after purchasing an additional 76,932 shares in the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Riley Exploration Permian in the 1st quarter valued at $640,000. 58.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Riley Exploration Permian

In other news, CEO Bobby Riley sold 8,981 shares of Riley Exploration Permian stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $26.49, for a total transaction of $237,906.69. Following the transaction, the chief executive officer now owns 326,375 shares in the company, valued at approximately $8,645,673.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.90% of the stock is owned by company insiders.

Riley Exploration Permian Price Performance

NYSE:REPX traded up $0.56 on Wednesday, hitting $28.80. The company had a trading volume of 14,382 shares, compared to its average volume of 127,564. The firm has a 50 day moving average of $27.23 and a two-hundred day moving average of $27.60. The stock has a market capitalization of $620.47 million, a price-to-earnings ratio of 5.89 and a beta of 1.33. Riley Exploration Permian, Inc. has a 52 week low of $21.27 and a 52 week high of $34.90. The company has a current ratio of 0.63, a quick ratio of 0.58 and a debt-to-equity ratio of 0.62.

Riley Exploration Permian (NYSE:REPX) last released its quarterly earnings data on Wednesday, August 7th. The company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.13). The firm had revenue of $105.40 million for the quarter, compared to analyst estimates of $106.62 million. Riley Exploration Permian had a net margin of 23.95% and a return on equity of 25.74%. On average, research analysts anticipate that Riley Exploration Permian, Inc. will post 6.37 earnings per share for the current year.

Riley Exploration Permian Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Thursday, October 24th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $1.52 annualized dividend and a dividend yield of 5.28%. This is an increase from Riley Exploration Permian’s previous quarterly dividend of $0.36. Riley Exploration Permian’s dividend payout ratio is currently 30.89%.

Wall Street Analyst Weigh In

Separately, Truist Financial reduced their price objective on Riley Exploration Permian from $45.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, September 30th.

About Riley Exploration Permian

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.