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

Denali Advisors LLC lessened its holdings in Riley Exploration Permian, Inc. (NYSE:REPX) by 61.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 13,200 shares of the company’s stock after selling 21,147 shares during the period. Denali Advisors LLC owned about 0.06% of Riley Exploration Permian worth $436,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of REPX. Kennedy Capital Management LLC lifted its position in shares of Riley Exploration Permian by 0.4% during the third quarter. Kennedy Capital Management LLC now owns 106,795 shares of the company’s stock valued at $3,395,000 after buying an additional 405 shares during the last quarter. Strs Ohio lifted its position in Riley Exploration Permian by 300.0% during the fourth quarter. Strs Ohio now owns 1,200 shares of the company’s stock valued at $32,000 after acquiring an additional 900 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Riley Exploration Permian by 92.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,004 shares of the company’s stock valued at $55,000 after acquiring an additional 962 shares in the last quarter. Navellier & Associates Inc. grew its holdings in Riley Exploration Permian by 18.0% in the fourth quarter. Navellier & Associates Inc. now owns 12,322 shares of the company’s stock worth $336,000 after purchasing an additional 1,878 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Riley Exploration Permian by 20.5% during the fourth quarter. Swiss National Bank now owns 15,900 shares of the company’s stock worth $433,000 after purchasing an additional 2,700 shares in the last quarter. 58.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at Riley Exploration Permian

In other Riley Exploration Permian news, insider Corey Neil Riley sold 2,500 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $26.61, for a total transaction of $66,525.00. Following the sale, the insider now owns 146,837 shares in the company, valued at approximately $3,907,332.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related 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 transaction 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 $10,140,653.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Corey Neil Riley sold 2,500 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $26.61, for a total transaction of $66,525.00. Following the transaction, the insider now owns 146,837 shares of the company’s stock, valued at $3,907,332.57. The disclosure for this sale can be found here. Insiders have sold a total of 712,520 shares of company stock valued at $18,196,756 in the last ninety days. Company insiders own 3.90% of the company’s stock.

Riley Exploration Permian Price Performance

Shares of REPX stock opened at $28.68 on Thursday. Riley Exploration Permian, Inc. has a fifty-two week low of $21.27 and a fifty-two week high of $38.00. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.53 and a current ratio of 0.59. The firm has a market capitalization of $617.77 million, a price-to-earnings ratio of 5.83 and a beta of 1.36. The stock’s 50-day simple moving average is $26.90 and its 200-day simple moving average is $26.47.

Riley Exploration Permian (NYSE:REPX) last released its earnings results on Wednesday, May 8th. The company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.11. Riley Exploration Permian had a net margin of 24.16% and a return on equity of 25.64%. The company had revenue of $99.74 million for the quarter, compared to the consensus estimate of $96.65 million. As a group, equities analysts forecast that Riley Exploration Permian, Inc. will post 6.45 earnings per share for the current fiscal year.

Riley Exploration Permian Announces Dividend

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

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.