Denali Advisors LLC Trims Stock Position in Riley Exploration Permian, Inc. (NYSE:REPX)

Denali Advisors LLC decreased its stake in Riley Exploration Permian, Inc. (NYSE:REPX) by 61.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,200 shares of the company’s stock after selling 21,147 shares during the period. Denali Advisors LLC’s holdings in Riley Exploration Permian were worth $436,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of REPX. Kennedy Capital Management LLC grew its stake in Riley Exploration Permian by 0.4% during the 3rd quarter. Kennedy Capital Management LLC now owns 106,795 shares of the company’s stock worth $3,395,000 after buying an additional 405 shares during the last quarter. PCG Wealth Advisors LLC grew its position in shares of Riley Exploration Permian by 3.2% during the fourth quarter. PCG Wealth Advisors LLC now owns 117,912 shares of the company’s stock worth $3,212,000 after acquiring an additional 3,680 shares during the last quarter. Strs Ohio grew its position in shares of Riley Exploration Permian by 300.0% during the fourth quarter. Strs Ohio now owns 1,200 shares of the company’s stock worth $32,000 after acquiring an additional 900 shares during the last quarter. Jackson Hole Capital Partners LLC increased its holdings in shares of Riley Exploration Permian by 17.4% in the 4th quarter. Jackson Hole Capital Partners LLC now owns 449,925 shares of the company’s stock valued at $12,256,000 after acquiring an additional 66,621 shares during the period. Finally, Swiss National Bank raised its position in Riley Exploration Permian by 20.5% in the 4th quarter. Swiss National Bank now owns 15,900 shares of the company’s stock valued at $433,000 after purchasing an additional 2,700 shares during the last quarter. 58.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Truist Financial lowered their price objective on shares of Riley Exploration Permian from $51.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday, May 6th.

Insider Buying and Selling at Riley Exploration Permian

In other news, CEO Bobby Riley sold 10,020 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $26.57, for a total value of $266,231.40. Following the completion of the sale, the chief executive officer now owns 381,658 shares in the company, valued at approximately $10,140,653.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Riley Exploration Ho Bluescape sold 700,000 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $25.52, for a total transaction of $17,864,000.00. Following the transaction, the insider now owns 4,521,767 shares of the company’s stock, valued at $115,395,493.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Bobby Riley sold 10,020 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $26.57, for a total value of $266,231.40. Following the completion of the transaction, the chief executive officer now owns 381,658 shares of the company’s stock, valued at approximately $10,140,653.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 712,520 shares of company stock valued at $18,196,756. 3.90% of the stock is owned by company insiders.

Riley Exploration Permian Stock Performance

NYSE REPX opened at $28.68 on Thursday. The firm has a market cap of $617.77 million, a P/E ratio of 5.83 and a beta of 1.36. Riley Exploration Permian, Inc. has a 52-week low of $21.27 and a 52-week high of $38.00. The business’s 50-day moving average price is $26.90 and its 200 day moving average price is $26.47. The company has a quick ratio of 0.53, a current ratio of 0.59 and a debt-to-equity ratio of 0.74.

Riley Exploration Permian (NYSE:REPX) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.11. The company had revenue of $99.74 million during the quarter, compared to analysts’ expectations of $96.65 million. Riley Exploration Permian had a return on equity of 25.64% and a net margin of 24.16%. On average, equities research analysts expect that Riley Exploration Permian, Inc. will post 6.45 earnings per share for the current year.

Riley Exploration Permian Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Thursday, April 25th were given a $0.36 dividend. The ex-dividend date was Wednesday, April 24th. This represents a $1.44 dividend on an annualized basis and a yield of 5.02%. Riley Exploration Permian’s dividend payout ratio (DPR) is 29.27%.

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.