Corton Capital Inc. Has $232,000 Stock Position in Riley Exploration Permian, Inc. (NYSE:REPX)

Corton Capital Inc. reduced its stake in shares of Riley Exploration Permian, Inc. (NYSE:REPX) by 11.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,257 shares of the company’s stock after selling 913 shares during the quarter. Corton Capital Inc.’s holdings in Riley Exploration Permian were worth $232,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of REPX. New York State Teachers Retirement System acquired a new position in shares of Riley Exploration Permian during the fourth quarter valued at about $33,000. Summit Investment Advisors Inc. increased its stake in Riley Exploration Permian by 44.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,189 shares of the company’s stock valued at $38,000 after acquiring an additional 368 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Riley Exploration Permian in the 4th quarter valued at approximately $77,000. Travelers Companies Inc. bought a new stake in shares of Riley Exploration Permian in the 4th quarter worth approximately $80,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Riley Exploration Permian during the 4th quarter worth approximately $110,000. 58.91% of the stock is owned by institutional investors.

Insider Activity at Riley Exploration Permian

In related news, insider Corey Neil Riley sold 3,500 shares of Riley Exploration Permian stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $27.34, for a total value of $95,690.00. Following the completion of the transaction, the insider now directly owns 125,974 shares of the company’s stock, valued at $3,444,129.16. The trade was a 2.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Bobby Riley sold 15,000 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $33.37, for a total transaction of $500,550.00. Following the sale, the chief executive officer now directly owns 296,375 shares in the company, valued at approximately $9,890,033.75. This represents a 4.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,477 shares of company stock valued at $770,589 in the last ninety days. Insiders own 3.90% of the company’s stock.

Riley Exploration Permian Stock Performance

NYSE REPX opened at $24.88 on Thursday. Riley Exploration Permian, Inc. has a twelve month low of $21.98 and a twelve month high of $37.55. 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 stock has a market cap of $535.44 million, a P/E ratio of 4.41 and a beta of 1.56. The company’s 50-day simple moving average is $26.88 and its 200 day simple moving average is $30.67.

Riley Exploration Permian Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Thursday, April 24th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 6.11%. The ex-dividend date of this dividend is Thursday, April 24th. Riley Exploration Permian’s dividend payout ratio is currently 35.68%.

Analysts Set New Price Targets

Separately, Truist Financial upped their target price on Riley Exploration Permian from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, January 13th.

Riley Exploration Permian 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.